OAKLAND, Calif., Oct. 21, 2021 /PRNewswire-PRWeb/ -- TMC Financing (TMC), one of the nation's premier SBA 504 commercial real estate lenders for nearly 40 years, today released its fiscal year 2021 results and announced that it finished fiscal year 2021 as the #1 SBA 504 lender in the Nation based on the dollar amount of 504 loans approved during the year with $448.8M in SBA 504 loans approved.
According to data compiled by the U.S. Small Business Administration for the fiscal year ending September 30, 2021, TMC helped 401 small businesses access $1,188,843,268 in total project financing, which includes the SBA portion of the financing, the bank's portion of the financing, and the borrower's down payment. The funds were used to purchase commercial property, construct new buildings, refinance commercial real estate, and purchase equipment for growing businesses. Combined, these businesses created 4,206 new jobs and retained 595 jobs as a direct result of SBA 504 program financing.
TMC was also the top lender in the San Francisco District Office Region with 133 loans approved.
"We're extremely proud of everyone on our team for producing such outstanding results in a strange and uncertain year," said Barbara Morrison, CEO and Founder, TMC Financing. "While numbers are impressive, the real impact is on the lives of the small businesses owners and their employees and families, because a business owner who can walk away from a lease payment and make the leap to building ownership is changing their life."
In addition to providing SBA 504 loans, TMC took on the added responsibility of providing Paycheck Protection Program (PPP) loans for businesses struggling to stay open during the pandemic. TMC made 1,120 loans totaling $105,545,758 during the first round PPP funding and 702 loans totaling 70,602,198 during the second round of PPP funding.
"The need was so dire that we carved out 15 people from our 504 team to provide assistance with the PPP program," said Morrison. "That's all they did, 24/7, for our clients and also for businesses that were turned away from their banks or didn't have the banking relationships needed to secure funds during a critical time."
"Thank you TMC for your quick service and professionalism towards me as a small-business owner," said Reece De Leon, owner of Botika LTC. "Your process is easy to understand, you are trustworthy and always ready to give advice and answer to my questions."
Celebrating 40 Years in Business! TMC Financing is a non-profit 501(c)4 with a mission to promote economic development and job creation for small businesses in California, Nevada, and Arizona. Since its founding in 1981, TMC has secured more than $10 billion in SBA 504 commercial real estate financing for 6,000 small businesses. As a result of the financing, these small businesses have created over 60,000 jobs. Business owners in Arizona, California, or Nevada can confirm they meet the qualifications for an SBA 504 loan by visiting the TMC Financing website at https://www.tmcfinancing.com/.
Media Contact
Ken Stram, TMC Financing, 4156523610, [email protected]
SOURCE TMC Financing
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