Thomas Financial Group Secures $19.975 Million USDA Loan for Major Mendocino Hotel Restoration

Thomas Financial Group Secures $19.975 Million USDA Loan for Major Mendocino Hotel Restoration

Benzinga
July 22, 2025

ATLANTA, July 22, 2025 (GLOBE NEWSWIRE) -- Thomas Financial Group, a wholly owned subsidiary of Community Bankshares Inc., is proud to announce the successful closing of a $19.975 million USDA Business & Industry (B&I) loan for the refinance and full renovation of two historic hospitality assets in downtown Mendocino: The Mendocino Hotel & Garden Suites and Hill House Inn.

This milestone project, originated and underwritten by Thomas Financial Group, was financed through the USDA's B&I program. The project will preserve and revitalize all guest rooms across the two properties, relaunch a centerpiece food and beverage destination, reactivate the largest indoor event space on California's North Coast, and create over 50 new high-paying jobs, tripling the current staff and restoring these historic landmarks to full operation.

Once thriving anchors of the Mendocino community, both the Mendocino Hotel & Garden Suites and Hill House Inn had fallen into disrepair. With this USDA loan, the new owners, Castle Peak Holdings, will launch a comprehensive restoration that enhances the guest experience while preserving the charm and history that define this iconic coastal village.

The planned improvements include:

Expansive renovations across both properties.

Restoration of a three-meal restaurant and historic lobby bar at Mendocino Hotel.

Reopening of North Coast's largest indoor wedding venue.

Upgrades to room layouts, ADA compliance, and coastal-facing suites.

Activation of public gathering spaces for locals and tourists alike.

The Mendocino Hotel & Garden Suites, the only full-service ...

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