TMC Financing, a leading Southern Nevada SBA 504 lender, provided more than $18 million in financing to small businesses in 2018. Spearheaded by senior vice president of business development Chris Hunter, the company helped 22 small businesses grow, which will create or maintain 206 jobs in Southern Nevada.
“The SBA program is one of the most powerful assets a small business owner can use to grow their companies, and I am proud to have helped so many either build or purchase commercial real estate to further their missions,” said Hunter, who joined TMC Financing in late 2017 and has nearly 20 years’ experience in lending and 504 financing.
In 2018, TMC Financing provided 36 percent of SBA 504 loans in Southern Nevada, making it the second largest provider in Clark County.
“As one of only a few Certified Development Companies (CDCs) in Southern Nevada, we are honored to have been selected by so many small businesses to help them grow through commercial real estate,” said Hunter. “We expect 2019 to be another busy year of business growth and look forward to helping both new and existing clients expand their footprints.”
TMC Financing provides small and medium sized businesses with affordable financing options for purchasing commercial real estate. “This enables them to control both their occupancy costs and their futures,” said Hunter. Hunter has extensive experience in every facet of the loan process and is an advocate for small businesses and economic development.
About SBA 504 real estate loans
The U.S. Small Business Administration 504 loan program allows small-business owners to finance commercial real estate and other fixed assets with long-term, below-market, fixed interest rates. SBA 504 loans can be used to finance the total project cost (TPC), which can include the purchase price, construction/renovations, equipment, soft costs and closing costs. A typical 504 loan project requires a down payment of only 10 percent of the TPC from the borrower, with the remaining amount split between a first mortgage provided by a commercial lender and a second mortgage provided by a certified development company (CDC). By enabling owners to keep their capital working to grow the business and create jobs, the 504 program provides long-term stability to both businesses and communities. Business owners can confirm they meet the qualifications for an SBA 504 loan by visiting the TMC Financing website.
About TMC Financing
Founded in 1981, TMC Financing is the number one provider of SBA 504 commercial real estate financing in California and Nevada in regards to number of loans approved. TMC consistently ranks among the top CDCs nationwide, funding projects worth more than $9 billion across California and Nevada. More than 5,000 businesses have benefited from this financing, resulting in the creation of an estimated 60,000 jobs. For more information on SBA 504 loans and the local businesses they support, visit tmcfinancing.com