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 hotel in the downtown district, will be a dynamic center of gravity for the North Coast on Mendocino’s historic Main Street, while Hill House Inn – famed as the setting for the drama TV series “Murder She Wrote” – will be restored as a hilltop retreat featuring the largest and most flexible meeting and event spaces on the North Coast, with ocean views and walking access to downtown Mendocino. Both properties will feature authentic local design elements and highlight regional artisans and makers through curated programming.

“This is what rural revitalization looks like,” said Zach Chandler, SVP, Government Guaranteed Lending for Thomas Financial Group. “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.”

With an 80% USDA guarantee, a 30-year term, and no balloon payments, the loan provides unmatched peace of mind for the borrower, particularly in a volatile rate environment.