EMP WERING HOMETOWN INVESTORS

Renovo’s Paul Shaughnessy Sets Sights on Boston Area Growth

By Mark Dewyea, Contributing Writer for Originate Report

Paul Shaughnessy Managing Director,

The Renovo Financial story all started back in 2011 in a Chicago coffee shop by CoFounders Kevin Werner and Daniel Rosen—a fitting origin spot for the trendsetting, high-energy private money lender currently shaking up the lending space. The company was premised on a novel concept: staking a mutual investment in their clients’ long-term success by providing both efficient access to working capital and leveraging their collective decades of industry experience to offer actionable insights instead of merely tossing money their way and letting them either sink or swim like the competition was doing. Fueled by copious amounts of caffeine and an initial financial backing from Granite Creek Capital Partners, Kevin and Daniel steadily built a solid roster of all-star lenders and established a reputable track record of success in Chicago. Fast forward five or six years and Renovo has grown exponentially, with local lenders actively fueling savvy investors in key markets spanning from coast to coast.

The Originate Report team recently had the privilege of sitting down with one of the most innovative professionals driving Renovo’s remarkable trajectory in a key market: Paul Shaughnessy, Managing Director of Renovo Financials’ Boston office. We had the unique opportunity to talk with one of the hardest working individuals in the lending sector to discuss his inspirational career development, the strategies and techniques he implemented to originate an insane volume of loans while maintaining next-level customer satisfaction and his take on current and future trends within the private lending sector.

True Market Familiarity

Shaughnessy was born and raised in the Boston area. He had a stellar fouryear collegiate football career at a small Division 3 program, Mount Ida College—becoming the only player in school history to rack up more than 1,000 yards rushing and 1,000 yards receiving in one calendar year. His success on the gridiron caught the eye of several professional scouts which led to an invitation to the NFL Super Regional Combine, and ultimately, stints in the Arena and Canadian Football Leagues. Shaughnessy was able to successfully translate his athletic success into the professional realm, exhibiting the same grit and determination he used on the field while mastering the ins and outs of the lending industry and becoming a prominent figure in the space.

After developing an interest in the financial services sector, Shaughnessy decided to relocate to San Diego in 2014, where he homed in on his finance skills. After picking up a real estate license in both California and Massachusetts, he was able to pivot to the private lending industry, bringing with him a wealth of insights into how the funding process for investment purposes could be perfected.

But what truly sets Shaughnessy apart as a lending professional is his tremendous work ethic and dedication to facilitating the longterm success of his clients. “Paul is the kind of guy that will do twice as many loans as any of his competitors and still lose sleep on the one deal that got away,” notes James Gaskin, SVP of Corporate Development at Renovo. It is that level of commitment that allowed Shaughnessy to quickly establish himself as a respected figure in the private lending industry and garner a widespread reputation of going above and beyond to get deals across the finish line for his growing client base.

As he gained more experience in the industry, Shaughnessy began to focus on the specific needs of real estate investors and developed a deep understanding of the unique challenges and opportunities in this market. He used this knowledge to create innovative lending solutions that helped his clients achieve their goals.

Returning Home to Give Back

Despite his success, Shaughnessy never forgot his roots and remained committed to giving back to the community. This prompted him to move back to Boston and join Renovo Financial in 2020 after being impressed with the company’s energetic culture and impactful lending. Shaughnessy’s estimation of Renovo’s quality proved true during the COVID-19 era. “When the pandemic hit, capital markets shut down for the most part—but not Renovo,” notes Shaughnessy. “They were able to continue actively lending and honoring the initial commitments they made to their clients despite the industry being turned on its head seemingly overnight. The foresight to not overleverage themselves and secure key capital commitments from stable funds that had a vested interest in the long-term viability of the company speaks volumes to the quality of leadership here at Renovo and why it makes such a great organization to work for.”

But there’s a catch: Renovo had literally zero market presence in the Boston real estate lending market at the time. Shaughnessy was tasked with building the business from the ground up in one of the most competitive markets in the country amidst the fallout of a global pandemic that had turned the entire industry on its head. Quite the challenge to say the least, but Shaughnessy was not intimidated—instead relying on his ability to quickly establish trust with key clients by genuinely investing in their success and putting in the needed effort to provide them with the requisite resources to accomplish their goals. “The one defining characteristic about Paul is that he truly cares about his clients,” observes Gaskin. “He’ll do whatever it takes to set them up for success, never using them as a means to an end which you see so often in the lending space—that means working around the clock seven days a week if need be. We have quite an impressive team at Renovo comprised of top- level talent, but Paul sets himself apart even amongst these high achievers by his willingness to put in the work and commit everything to servicing his clients.”

The results Shaughnessy has generated to date certainly speak to his remarkable level of commitment. In his first year alone operating in Boston, Shaughnessy was able to generate $100 million in loan origination—a truly impressive feat considering Renovo had just opened up shop in the city and had yet to garner substantial brand awareness. Shaughnessy’s financial acumen and resourcefulness enabled him to gain the trust of his clients, and his innate ability to maintain unparalleled customer service despite a constantly escalating amount of loan servicing volume translated into a highly loyal client base. His track record of