BUILDER SHOWCASE Shore Decisions
BankNewport has continuously fueled Shoreline Properties ’ projects over the years . BY KERRI TALLMAN
Y OU MAY HAVE SEEN SHORELINE PROPERTIES ’ projects popping up all over Rhode Island without even realizing it — Liberty Hill Condominiums in Exeter , Stonebridge Crossing in Warwick and more units on the way . All the properties have one common denominator : the financial backing . Since 2014 , owner Joe Catelli has put his trust in BankNewport to help him make the right decisions for each of his new projects . Whenever he has a new idea , Catelli first consults BankNewport . “ I make the layout , and [ BankNewport ] comes in to finance infrastructure and vertical construction ,” Catelli says . “ They truly act like my partner . They come in and lay out the financial strategy . It works smoothly between the developer and bank .”
Catelli founded Shoreline Properties in 1990 after about a decade of building , and at the time he had a different bank backing his decisions . Most recently , with the help of David Ritacco of BankNewport , they were able to execute his plans for a new condominium unit .
“ We work hand-in-hand and build a relationship ,” Catelli says . “ I talk to David like a partner and sit down in his office . We work together to come up with a mutual plan that works for both parties .”
BankNewport works with businesses of all sizes , across a wide range of industries , with a team of lenders focused on providing a personalized experience by spending time understanding the customer and the business fundamentals .
They follow customers through the process from start to finish , offering financial advice along the way and being ready to jump into a new project at any point . “ It ’ s the personal touch that makes all the difference ,” Ritacco says . “ We ’ re genuinely engaged and passionate about what our customers are doing .
“ Joe has many different projects — he ’ s a fantastic client to the bank and extremely unique ,” Ritacco says . “ We ’ ve had all different experiences with just one client .”
What ’ s most important working with commercial construction companies is having face-to-face interactions , something many customers struggle to find . Being a large community bank allows BankNewport to have the resources to deliver while still prioritizing the local community .
“ A local bank , to a small business , is vital for its growth ,” Ritacco says . ◆
BankNewport 184 John Clarke Rd ., Middletown , 401-846-3400 | banknewport . com | @ banknewport | BankNewport
58 RHODE ISLAND MONTHLY ’ S NEST | 2023