SOURCE: Meadows Bank

Meadows Bank

June 29, 2011 19:48 ET

Meadows Bank Announces Recent SBA Loan Closings in California

LAS VEGAS, NV--(Marketwire - Jun 29, 2011) - Meadows Bank, a full service community bank specializing in Small Business Administration (SBA) and United States Department of Agriculture (USDA) loans, headquartered in Las Vegas, NV, announced today it has provided SBA loans totaling over $2.3 million to three businesses in California. The businesses are a car wash company in Ontario, CA; a manufacturing facility in Ontario, CA; and a tax consulting company in Paramount, CA.

The loan to the manufacturing company will create in excess of 28 new jobs in Southern California. The new loan will allow the company to purchase equipment and expand its manufacturing capability into a new line of business. Greg Leuterio, VP with Meadows Bank, was instrumental in guiding the company through the SBA loan process. "Working with Greg and the people at Meadows Bank was very refreshing. We provided the requested information and were able to receive approval on a loan that will greatly expand our business," said a representative from the company.

The car wash operator that received an SBA loan has owned and operated several car washes for the past 15 years. The owner received an SBA loan to acquire and remodel an existing car wash facility in Ontario, CA. "Meadows Bank is pleased to be able to utilize the SBA loan programs to assist this long-standing business in growing its operation during this difficult economic environment," said Greg Leuterio, VP Meadows Bank, California Loan Production Office.

The tax preparation and consulting business utilized an SBA loan from Meadows Bank to expand its office and create eight new jobs. "We are excited to be able to expand our business with the help of an SBA loan from Meadows Bank. The Bank worked with us very closely and took the time to learn our business which resulted in an approved loan," said the owner of the company.

"Meadows Bank continues to seek out qualified borrowers that need assistance from the SBA loan programs. As the economy shows signs of improvement, more and more small businesses are deciding it is a good time to expand or purchase a building. Meadows Bank is looking forward to helping these businesses by utilizing the SBA lending programs," said Calvin Regan, SVP and manager of Meadows Bank SBA Department.

About Meadows Bank: Meadows Bank is a community bank headquartered in Las Vegas, NV with loan production offices in Salt Lake City, UT; Sacramento, CA; San Diego, CA; and Denver, CO. Meadows Bank specializes in SBA and USDA Rural Development lending and has a staff of loan officers, underwriters and processors dedicated solely to SBA and USDA lending. For more information on obtaining an SBA or USDA loan through Meadows Bank, please contact one of our SBA Loan Experts at 702-471-2265 or visit our website at www.meadowsbank.com.