SOURCE: Meadows Bank

Meadows Bank

September 30, 2010 13:10 ET

Meadows Bank Provides $2.4 Million SBA 504 Construction Financing for a New Assisted Living Facility in Sacramento, CA

LAS VEGAS, NV--(Marketwire - September 30, 2010) - 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 $2.4 million in SBA 504 construction and permanent financing to Florin Road Partners to construct a new assisted living facility in Sacramento, CA.

"Meadows Bank was great to work with and was able to provide the construction financing that we needed to move forward with this project," said John Cimino, head of development for Florin Road Partners. "Greg Leuterio, VP of Meadows Bank, and the bank's government guaranteed lending department was instrumental in guiding us through the process of obtaining an SBA loan." Florin Road Partners is comprised of members who own, manage and operate assisted living facilities in California and Nevada.

"Meadows Bank is excited to be financing this project which will create in excess of 15 new jobs and help satisfy the growing demand for elderly care in the Sacramento area. We are pleased to have the SBA and Greater Sacramento Certified Development Company as our partners in providing this financing." said Greg Leuterio, Vice President for Meadows Bank.

About Meadows Bank: Meadows Bank is a community bank headquartered in Las Vegas, NV with loan production offices in Salt Lake City, UT and Sacramento, CA. Meadows Bank specializes in SBA and USDA Rural Development lending and has a full 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.