Bank of Colorado demands repayment of loans from construction companies – Greeley Tribune

GREELEY – The Greeley branch of the Bank of Colorado has filed a lawsuit against a former construction and landscaping company, its successor company, and several individuals and businesses who guaranteed bank loans that subsequently defaulted.

The lawsuit, filed on March 4, alleges One Stop Construction and Landscapes Inc., a Westminster company, defaulted on a $ 2.5 million promissory note, with $ 912,213 unpaid.

One Stop sold the business to SALMAC LLC and Robert McAllister using $ 2.6 million in financing secured by buyers. OSC Holdings LLC of Highlands Ranch, ATN Holdings LLC of Westminster, Colorado Construction and Landscapes Inc. of Broomfield and Jesse Alfaro of Broomfield have also provided commercial guarantees. Alfaro is listed as President of One Stop Construction & Landscapes, a trading name of SALMAC. A total of $ 2.4 million remains to be paid on the SALMAC ticket.

The bank is demanding reimbursement of all the notes, which total $ 3.3 million, and is asking the court to order SALMAC to deliver collateral, which includes inventory, furniture, machinery, vehicles, books and records, intangible assets and contracts with third party customers. The collateral is located in Larimer and Weld counties, as well as Westminster and other undetermined locations, according to the lawsuit.

The lawsuit demands repayment of the loans and asks the court to order SALMAC to justify why the collateral should not be withdrawn and returned to the bank.

Calls to affected parties were not returned or encountered unconfigured mailboxes.

© 2021 BizWest Media LLC

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