Get a financial adviser to avoid small business headaches

February 5th, 2014

Get a financial adviser to avoid small business headaches

TMC’s Las Vegas team was recently mentioned in Vegas Inc as financial advisers in the commercial mortgage process.

Click here for the full article, or read below:

Get a financial adviser to avoid small business headaches
By Rob Langrell

Brad Burdsall, center, of Egg Works, describes building plans in his new store near Village Center Circle with Ann Santiago, right, and Cindy Santilena, both senior vice presidents in business development at TMC Financing.

It’s essential to have a plan when managing your wealth, whether it be personal or corporate. Luckily, the Las Vegas Valley is home to a plethora of financial executives ready to help.

From tax attorneys and CPAs to wealth advisers and loan specialists, experts can help people and businesses figure out solutions to their financial quandaries.

It’s just a matter of finding the right adviser.

Tax and estate lawyers can help with financial planning, advise on tax strategies and, if necessary, negotiate with the IRS. Accountants can make sure taxes are filed properly, handle financial records and prepare reports. Banks and credit unions can advise on investment plans, while certified development corporations can help small businesses get off the ground or expand.

Ann Santiago, senior vice president of business development, TMC Financing

Ann Santiago swells with pride when she sees storefronts of businesses that she and her company helped finance and get off the ground.

In 2013 alone, TMC issued 40 loans worth $30.1 million as part of the Small Business Administration’s 504 loan financing program, designed for growing small and medium businesses that need financing for purchases, renovations or construction.

“I just love to drive down the street and see a business that we helped,” Santiago said. “It is so satisfying. Most of our clients are private business owners or family-owned businesses. Making a real estate purchase is a dream for many of them. All of their hard work pays off when they can finance those dreams. There is a certain amount of pride and joy in their business endeavors.”

Ann Santiago, senior vice president of business development, TMC Financing

Santiago opened TMC’s Las Vegas office in 2007. Under her leadership, it has grown to become the top SBA 504 lender in Clark County for the past three years.

“We are like the lending department of the SBA,” Santiago said. “We are nonprofit and licensed and regulated by the SBA. There are only 275 certified development corporations in the country. Not everyone can be one.”

Certified development corporations offer standardized fees and interest rates, as well as low down payments, 20-year low fixed rate terms and reduced loan fees.

TMC works directly with borrowers, first mortgage lenders and real estate brokers to tailor financing packages that meet SBA standards and the credit capacity of each business.

Since 1981, the company has provided more than $7.5 billion in SBA 504 financing for more than 4,500 businesses and has ranked among the top five certified development corporations nationally for more than a decade.

TMC’s financing has helped create more than 33,000 jobs in Nevada and Northern California, Santiago said.

Santiago, for instance, helped arrange for La Bonita Supermarkets, a local grocery store chain with five locations that cater to Hispanic shoppers, to move into a store at Rainbow Boulevard and Flamingo Road after another big box shop vacated the space.

La Bonita “totally remodeled it, put in a bakery, a deli and a smoothie shop,” Santiago said. “They hired 142 employees, too. That whole strip mall is picking up momentum because of that. It’s really neat to see that area thrive now.”

Santiago graduated from UCLA and worked for the Nevada Development Corporation, another local certified development corporation, from 1995 to 2007. She is a member of the National Association of Industrial and Office Properties and Commercial Real Estate Women Network.

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