Latest news with #ZachChandler
Yahoo
6 days ago
- Business
- Yahoo
Thomas Financial Group secures loan to restore hotels in California, US
Thomas Financial Group has secured a $19.97m USDA Business & Industry loan, which will be redirected towards the full renovation of Mendocino Hotel & Garden Suites and Hill House Inn, two properties in California, US. This funding also aims to refinance the properties and significantly boost local employment, creating more than 50 jobs. The comprehensive plan for both assets will not only refurbish all guest rooms but also relaunch a key food and beverage venue and the largest indoor event space on California's North Coast. Castle Peak Holdings, the new owner of these properties, is set to launch a restoration to improve the experiences of the guests. The renovation will see upgrades across both sites, restoration of a historic lobby bar and a three-meal restaurant at Mendocino Hotel. Additionally, the North Coast's largest indoor wedding venue will be reopened, and improvements will be made to room layouts, Americans with Disabilities Act (ADA) compliance, and coastal-facing suites. The projects will also focus on activating public gathering spaces for both locals and tourists. The Mendocino Hotel & Garden Suites stands as the sole full-service hotel in the downtown district. Set to be transformed into a hilltop retreat, Hill House Inn will feature meeting and event spaces, offering ocean views and convenient access to downtown Mendocino. Thomas Financial Group government guaranteed lending senior vice-president Zach Chandler said: 'We delivered a complex, long-term loan structure to support two of Northern California's most irreplaceable hospitality assets, and did it with the stability of USDA financing.' The loan has an 80% USDA guarantee and a 30-year term without balloon payments. The properties signify a substantial part of Mendocino's total hotel room inventory. "Thomas Financial Group secures loan to restore hotels in California, US" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Associated Press
20-05-2025
- Business
- Associated Press
Thomas Financial Group Closes Over $34 Million in Bridge Loans for USDA Takeout in Under 40 Days
ATLANTA, May 20, 2025 (GLOBE NEWSWIRE) -- In a powerful demonstration of speed and strategic execution, Thomas Financial Group (TFG), a wholly owned subsidiary of Community Bankshares Inc., in partnership with Siguler Guff, Phoenix Lender Services (PHX), and Community Bank & Trust, successfully originated, underwrote, and closed three hospitality bridge loans totaling over $34 million in less than 40 days. All loans are structured for USDA Business & Industry (B&I) program takeout, reinforcing the firm's capacity to deliver complex, time-sensitive financing solutions. While USDA lending is traditionally known for its thorough but lengthy approval process, TFG is redefining what's possible. Through creative structuring and seamless collaboration across its lending ecosystem, TFG and its partners provide rapid bridge loan execution to fill the timing gap – giving borrowers immediate access to capital while finalizing their long-term USDA financing. The recently closed projects will create and retain nearly 50 jobs across key rural markets. 'These transactions prove that USDA lending doesn't have to be slow or complicated,' said Zach Chandler, SVP, Government Guaranteed Lending of Thomas Financial Group. 'When you work with TFG, PHX, and Community Bank & Trust, you're getting a team that understands how to move at the speed of business – without compromising the long-term benefits of USDA-backed financing.' TFG's USDA bridge-to-permanent platform is available in all 50 states and every U.S. territory, providing borrowers in rural communities with access to flexible financing structures tailored to their timing and growth needs. In a market climate defined by rate uncertainty and capital constraints, borrowers value the security of a 30-year fully amortizing loan with no balloons or call provisions – exactly what USDA lending can provide. 'Peace of mind in today's economy is priceless,' added Chandler. 'Our ability to deliver both speed and long-term stability makes us a trusted partner for developers, business owners, and project sponsors across the country.' If you're seeking fast, creative financing for your rural project – with the peace of mind that comes from a long-term USDA solution – now is the time to act. Contact TFG today to explore our USDA bridge-to-permanent platform and discover what's possible when you partner with a team built for execution. TFG Contact Email: [email protected] Phone: (770) 655-1569 About Thomas Financial Group Thomas Financial Group, a wholly owned subsidiary of Community Bankshares Inc., is a nationally recognized leader in USDA and SBA lending. In partnership with Phoenix Lender Services and Community Bank & Trust, TFG specializes in complex capital solutions that support rural economic development, small business growth, and infrastructure expansion. About Community Bankshares Inc. Community Bankshares Inc. is a privately held financial holding company headquartered in LaGrange, Georgia, with subsidiaries including Community Bank & Trust, Thomas Financial Group, and Phoenix Lender Services. Through its network of specialized financial institutions, Community Bankshares Inc. delivers innovative, relationship-driven banking and lending services across the United States, with a strong emphasis on rural development, government-guaranteed lending, and community reinvestment. About Community Bank & Trust Community Bank & Trust is a full-service commercial bank and a subsidiary of Community Bankshares Inc. Based in LaGrange, Georgia, CB&T is an SBA Preferred Lender with a growing national footprint in USDA and small business lending. Known for its personalized service and deep lending expertise, CB&T partners with businesses and communities to deliver flexible, dependable financing solutions that support long-term growth across rural and underserved markets. About Phoenix Lender Services Phoenix Lender Services is the operational engine behind the USDA and SBA lending platform and wholly owned subsidiary of Community Bankshares Inc. Specializing in origination, underwriting, processing, closing, and servicing, Phoenix provides seamless back-end support and strategic oversight for government-guaranteed loans. With a team of seasoned professionals and a nationwide reach, Phoenix empowers lenders and borrowers with the tools and expertise needed to deliver consistent, compliant, and efficient results. Media Contact Abigail Davison Uproar by Moburst for Community Bankshares, Inc. [email protected]
