SOURCE: Meadows Bank

Meadows Bank

July 12, 2010 17:16 ET

Meadows Bank Provides $6.0 Million USDA Financing to Ruby Vista Lodging Associates, LLC dba Marriott TownPlace Suites

LAS VEGAS, NV--(Marketwire - July 12, 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 $6.0 million in USDA Rural Development financing to Ruby Vista Lodging Associates, LLC to construct an 85 room Marriott TownPlace Suite hotel in Elko, NV.

"Meadows Bank did a remarkable job in getting us a USDA guaranteed loan for the construction of our project in Elko, NV," said Nate Taylor, VP of Development for Ruby Vista Lodging Associates, LLC. "The bank's government guaranteed lending department was instrumental in guiding us through the paperwork and processes required to qualify for a USDA Rural Development loan." Ruby Vista Lodging Associates, LLC is comprised of members who own, manage and operate approximately nine Marriott flagged hotels in the West since 1992.

"Meadows Bank is proud to be financing this project in rural Nevada, which will create in excess of 40 new jobs at a time when Nevada's unemployment level is among the worst in the nation. We are pleased to have the USDA as our partner in providing this financing and look forward to partnering with the USDA on future financing requests," said Cal Regan, Senior Vice President and SBA Manager 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. The bank started its government guaranteed lending department in January, 2010 by hiring a team of experienced SBA/USDA lenders, processors and underwriters. The experience of this team makes the process of applying for and receiving an SBA or USDA loan more efficient than at a bank that does not specialize in government guaranteed 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

Contact Information

  • Media Contact:
    Calvin Regan
    Email Contact
    phone (702)471-2040