SAN FRANCISCO, Jan 30, 2012 (BUSINESS WIRE) –
TMC Financing (
www.tmcfinancing.com ),
a leading Certified Development Company (CDC) providing SBA 504
commercial real estate financing in California and Nevada, is ranked by
the SBA as the #1 SBA lender nationwide by volume with $77.7 million in
SBA 504 loans approved in the first quarter of fiscal year 2012 (October
through December). TMC’s borrowers from the first quarter were able to
retain 2,664 jobs, and are expected to create 660 new jobs in California
and Nevada.
“This is a major milestone for TMC, as it is the first time in our
history that we achieved the number one ranking nationwide by volume,”
said Barbara Morrison, TMC’s president and CEO. “It it is also an
indication that the SBA’s recent changes to the 504 program are
resulting in larger loans that enable job creation and economic growth
when we most need it.”
For the fiscal year ended September 30, 2011, TMC financed $268 million
in SBA 504 commercial real estate loans, a 47% increase over the
previous year, leveraging $706 million in total loan financing provided
to growing businesses.
SBA 504 loans enable the business owner to purchase, renovate or
construct commercial real estate with as little as 10 percent down,
using below-market, fixed-rate financing. SBA 504 loans are structured
with a first mortgage from a conventional lender, and a second mortgage
from a Certified Development Company (CDC), such as TMC Financing,
backed by the SBA. (Conventional loans usually require 25% down, making
the SBA 504 loans attractive for business owners who are intent on cash
preservation.)
ABOUT TMC:
During the past 30 years, TMC has provided approximately $6.4 billion in
financing for more than 3,900 businesses throughout California and
Nevada. This financing has resulted in the creation of 27,000 jobs. TMC
has been ranked in the top five Certified Development Companies
nationwide for over a decade, and is the number one SBA 504 Lender in
Northern California and Las Vegas. TMC’s experienced staff works
directly with borrowers, first mortgage lenders and real estate brokers
to tailor financing packages that meet SBA program guidelines and the
borrower’s credit capacity. For more information, visit
http://www.tmcfinancing.com
or
http://www.sba.gov .
SOURCE: TMC Financing
for TMC Financing
Ken Stram, 415-652-3610
ken@2bridgepr.com
Copyright Business Wire 2012
Article source: http://www.marketwatch.com/story/tmc-financing-ends-first-quarter-as-1-sba-lender-nationwide-2012-01-30