TMC Financing President and Founder Barbara Morrison has been named a GlobeSt.com Lender Influencer. Morrison is one of the top lending executives to receive the annual honor, announced in an article dated Tuesday, June 8. Of the many highlights for the honor, Morrison's securing small businesses funding in California, Arizona, and Nevada stood out as a crowning achievement.
GlobeSt.com also recognized Morrison as an advocate for equality in the small business lending industry.
Barbara Morrison's Leadership Has Been Crucial to Funding Businesses in Need
Under Morrison's leadership, more than 6,000 businesses have received Small Business Administration (SBA) funds through TMC Financing, with total funding of over $10 billion.
In addition to her work with TMC Financing, Morrison also founded TMC Community Capital, the sister company to TMC Financing. TMC Community Capital provides safe, affordable, and convenient access to capital for women of color and underserved communities. The microlender is organized as a nonprofit and offers online access to business microloans.
TMC Financing Expanded Capital Access for Businesses Facing Pandemic Pressure
Another foundation of Morrison's recent recognition may be found in her work during the pandemic. In the months following the pandemic, shelter-in-place orders saw a significant upswing in calls and emails for the organization. TMC Financing received more than 100 contacts, and in response, Morrison formulated a highly successful community outreach program to meet the high demand.
The companies "Small Business Big Heart" program assisted around 200 businesses receiving $750,000 in total grants. Additionally, TMC Financing funded over $105 million in PPP loans for more than 1,100 businesses. Many business owners were in danger of closing their doors permanently before receiving Small Business Big Heart funding.
Under Morrison, TMC Financing has also been involved in the community in other ways
The company partnered with San Joaquin County in Northern California to bring attention to and facilitate its small business grant program. With TMC's assistance, county officials were able to launch $6 million in grant funding for nearly 650 small businesses from various industries.
TMC Financing Is Hiring to Meet Increased Demand
Throughout 2020, Morrison directed more than 30 new TMC Financing team members to meet increased demand. The company continues to set internal records for SBA 504 commercial real estate loans processed and concluded successfully. Operations are growing throughout its three-state service area.
The SBA 504 commercial real estate loan is a flagship initiative of the Small Business Administration. TMC Financing's SBA 504 program enables business owners to finance retail property purchases at favorable rates with low down payments. The business owner's net worth is not a factor.
According to TMC Financing, nearly all for-profit businesses are eligible for the SBA 504 program. It is not a pandemic-related program and is not expected to expire.
Following the honors from GlobeSt.com, TMC Financing's President Morrison expressed her commitment to expanding capital funding available for small businesses. Business owners interested in funding opportunities are encouraged to contact TMC Financing.
Prestigious business news website GlobeSt.com is part of the ALM news network, formerly American Lawyer Media. ALM was formed in 1979. As one of the leading digital publications for investors and business leaders, its industry awards are highly sought-after, particularly in lending.
About TMC Financing
TMC Financing is the no. 1 provider of SBA 504 commercial real estate loans in the Western Region of the U.S., helping small businesses expand throughout California, Nevada, and Arizona.