Sundance ElDorado Self Storage Holds Unique Event To Benefit Charity Local Community And Save Its Business From US Bank
Unique Community Event to rally the community around a good charity event, help local people buy and sell goods, and promote the business owners cause to save their business from an attack by US BANK
- Sacramento, CA (1888PressRelease) April 21, 2012 - Self Storage Sponsors Unique Sales and Charity Event to Save its Business from US Bank and benefit Autism Speaks.
It's not Storage Wars, its tenants opening their storage bins to sell their own goods and creative business owners providing a "day rate" to vendors. More than 1500 expected Saturday April 21, 2012 to benefit charity and show support for their neighborhood storage facility that is under attack from US Bank.
Sundance Eldorado Self Storage LP, owner and operator of a new 404 unit self storage facility has been paying it's bills and fighting US Bank for almost two years to complete the mortgage modification it offered. Now, facing foreclosure from US Bank, owners have decided to take their case to the public and political allies. In a unique move Sundance Eldorado has embarked on a unique trademarked strategy hosting a giant extravaganza "storage sale" April 21, 2012 from 9am-3pm. "We have gone out to tell our community, the media, the politicians, and US Bank that we want to keep our business", said manager of operations Don Smith. Resident Manager Andrea Brown hit the streets with thousands of flyers for support of her campaign and everyone has responded. "We are expecting more than 1500 people here Saturday morning to find bargains, enjoy entertainment and food, buy a raffle ticket for the Disneyland Trip giveaway, to help a charity close to by heart, and to sign petitions supporting our fight to keep the business my father started", said Brown. "We have provided a high class affordable setup and many of our tenants and outside vendors have paid a fee to open up shop and sell their extra things in storage or from one of our vacant lockers. It's an affordable way to bring the community together that benefits charity, our tenants, and our own business who is under attack", added Brown.
Sundance Eldorado, like many others in this economy faced a pending balloon loan to US Bank and unable to negotiate an extension was forced to file for Chapter 11 re-organization in June 2010. According to company legal representatives, unlike many companies that have filed for bankruptcy, Sundance Eldorado has increased their business more than 100%, made payments to US Bank every month, put $225,000 in a trust account and offered to guarantee 3 years of payments to US Bank in a reorganization plan filed in Federal Court.
Don Smith, manager of operations, and a company turnaround expert said "Despite our efforts, US Bank, who received more than $200 Billion of taxpayer money in the banking bailout, continues to spare no expense in its effort to foreclose on this property. We know they have spent at least $500,000 in legal fees to discredit the management team and prove that we cannot make enough money to make payments, yet we have not missed one court ordered payment. Those legal fees have been reimbursed to US Bank by the FDIC - us - the US taxpayers. Our politicians have created the laws that make it legal for US Bank and others to fight us with our own money, take our homes and our businesses, then to beat it all, they submit paperwork to the FDIC and get full payment for the loan. Furthermore, once they own the property, they liquidate it and keep those proceeds too."
Smith added, " If we were deadbeats that didn't pay our bills, I could understand this, but we paid our bills, and guaranteed future payments yet we lost the case and unless US Bank is held accountable for their actions we will lose our business and they will receive millions more to fund their legal thievery against countless others". " In the last two quarters, US Bank has posted their highest profits in history and most of that came directly from bank bailout funds after people lost their homes and businesses", said Smith.
"I'm not a politician, said Smith, just a businessman trying to help this family and its partners save their business. We've made a dramatic impact on the community, increased revenues and guaranteed that this bank will get their payments so one has to ask why US BANK spent hundreds of thousands of dollars to get the court order to close down this business and fire sale it off. Companies just do not do that unless there is a bigger financial incentive and that's why we exercising our rights to go public and tell our story in hopes of saving this business and help many others do the same".
"The company is asking every person that has lost their home, their business, or is currently being affected by similar circumstances to share their comments at facebook.com under saveourbusiness or sundance self storage" said Smith. We also encourage you to contact your congressman, and the following people at US Bank:
Attorney Jane Springwater jspringwater ( @ ) friedumspring dot com ; 415-834-3803
US Bank VP, Don Adams donald.adadms ( @ ) usbank dot com; 415-774-2260
US Bank VP, Nancy Dalbello nancy.dalbello ( @ ) usbank dot com; 415-774-2253
About Sundance Eldorado Self Storage LP:
The company owns and operates a newer 404 unit self storage facility strategically located by Brown's Ravine Marina on Folsom Lake in Eldorado Hills, California. The facility caters to consumers, businesses and boaters. The facility offers 24 hour security and a variety of unit sizes from 10x10 to 12x30 for large needs or indoor boat storage. For More information contact Don Smith, 916.941.9234 or email sundanceselfstorage ( @ ) gmail dot com
NOTE: The media and political action parties are encouraged to visit the facility on Saturday April 21, 2012. A press statement will be made by members of management and interested political party members. The general public is encouraged to sign an onsite petition to promote this effort.
Contact: Don Smith
Sundance Eldorado Self Storage
Fax 916.256.2006 2341 Hidden Acres Dr
ElDorado Hills CA 95762