Despite his impressive portfolio of successful hotels along the Gulf Coast, including the Hilton on Pensacola Beach, MacQueen was turned down by more than 50 banks, including every one in Pensacola.
But MacQueen didn't get mad — well, maybe a little — he got creative. He began thinking in unconventional terms, and it paid off, to the tune of $38 million.
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http://www.pnj.com/article/20090628/BUSINESS/906280309/Carlton-Proctor--Innovative-financing-for-new-hotel
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