Biz Buzz: Estate Financial investors complain to county

Management of loans by Paso business is questioned; complaints may be sent to state

County Deputy District Attorney Steven von Dohlen confirmed Tuesday that a number of investors in Estate Financial have called his office to complain about the way the lender has managed its loans and are seeking possible legal recourse to get their money back.

At this point, von Dohlen’s office is taking complainants’ names and their information to follow-up if needed.

In these kinds of matters, he said, the District Attorney’s Office refers complaints to the state’s Department of Real Estate and Department of Corporations, as well as local law enforcement agencies if there is evidence of fraud.

The Department of Corporations and Department of Real Estate are the state regulatory agencies that issue licenses to and have jurisdiction over Estate Financial.

“We understand (investors’) frustration and the potential losses they are facing,” von Dohlen said. “This is what investors need to do to move this forward.”

Once the complaints are filed, investors should be given the name of someone assigned to the case, von Dohlen said. Although both state agencies are swamped with complaints statewide, von Dohlen was certain that regulators are looking into investors’ complaints.

“We have been in contact with both agencies in the matter,” he said. “I know they have received the complaints and that the departments are actively working on the complaints they’ve received.”

Tom Poole, spokesman for the Department of Real Estate, said he could not comment on any possible investigation into Estate Financial.

Von Dohlen said the two state agencies could take a range of actions against Paso Robles-based Estate Financial. That could include probation, suspension or revocation of its license to do business, assessment of fines against the company or referral of the case to civil or criminal prosecutors, including the state Attorney General’s Office and the county District Attorney’s Office.

In a civil case, investors who feel they were wronged could sue for restitution, von Dohlen said.

He added that he was unable to give more details on the status of Estate Financial’s case “because of the risk of jeopardizing an investigation.”

He did not know of any civil or criminal filings against Estate Financial at this time.

—Melanie Cleveland

Grand opening set for Royer Cycle & Marine

Finishing touches are almost complete on the new Royer Cycle&Marine showroom in Atascadero.

Workers have finished installing a fluorescent sign on the former Central Coast Mitsubishi on San Palo Road. The car dealership went out of business last year.

The new boat shop will be the third location for Lemoore-based Royer, which operates other dealerships in the Central Valley, salesman Mark Mantel said. It will carry various brands, including MasterCraft, Glastron and Skeeter boats.

The dealership had its soft opening earlier this month and is planning a grand opening in April, Mantel said.

—Stephen Curran

United Way searching for grant volunteers

United Way of San Luis Obispo County is looking for volunteers who are interested in being grant readers for its 2008-09 community impact fund process. The organization awards grants to health and human service programs that serve the county’s most pressing needs in the areas of education and health. Funding requests are reviewed by a group of community volunteers who make funding recommendations to the United Way board of directors.

The grant review process will take place in April. Volunteers attend an initial orientation, independently review five to eight applications and meet as a group with other volunteers for a final panel discussion. A volunteer job description is available at www.unitedwayslo.org . For more information, contact Kara Edwall at 541-1234 or email her at kedwall@unitedwayslo.org . —Tonya Strickland

Central Coast Decks receives certification

Composite decking materials manufacturers Trex Co. in Winchester, Va., and TimberTech in Wilmington, Ohio, recently certified Central Coast Decks of Pismo Beach.

The South County contractor was also chosen to provide deck inspection, repair and replacement services in San Luis Obispo County by BrightServ in Dallas, a national administrator of the Trex materials warranty program.

Composite decking materials, an alternative to traditional wood decks, includes using recycled wood, water and plastic in the manufacturing process.

Central Coast Decks is the deck-building division of Premium Property Services Inc., a licensed general contractor. The company has been a locally owned family business since 2003 and specializes in custom decks, railings, pergolas, gazebos and fences using composite materials.

—Tonya Strickland