TMC Financing’s SBA 504 Refinance loan not only lowered Muhammad Khattak’s occupancy costs by approximately $4,000 per month but proved to be a vital tool against the financial impact of the coronavirus pandemic.
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The County of San Joaquin has renewed their partnership with TMC Financing to offer an expansion of the Small Business Assistance Grant Program. This new round of grant programs offer immediate financial assistance to small businesses located in the boundaries of San Joaquin County to address unfunded expenses caused by the pandemic.
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Las Vegas Mental Health and Wellness Center purcahsed 2,609 square-foot clinic thanks to Small Business Administration (SBA) 504 Program. The SBA 504 loan program, administered through TMC Financing, offers small businesses an avenue for financing with a long-term, fixed-rate loan and a low down payment.
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TMC Financing helped Filiberto Fonseca and Gino Borello, co-owners of NewPath Landscape Services, secure over $1.6m in SBA 504 financing that funded two different projects. The funds were first used to acquire 8 acres of vacant land, then later to purchase a 4,608 square-foot building in Morgan Hill, CA.
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Ralph Jensen, the owner of a family-owned fastener shop, never dreamed he could afford to buy a building for his business. He leased his property for 25 years before he was introduced to the SBA 504 Program and realized that buying a building was within his reach. By utilizing the SBA 504 Program, Jensen purchased his building with 90 percent financing and a record low interest rate.
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Shut down by necessity and starved of customers, many small businesses are bleeding money and fighting to stave off failure.
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To mitigate the impact of COVID-19 on local businesses and their employees, the County of San Joaquin partnered with TMC Financing to offer the Small Business Assistance Grant Program.
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Many small business owners have been frustrated by the obstacles they encountered when applying for a Paycheck Protection Program (PPP) loan. However, Meenu Sandhu, a southern California entrepreneur was astonished that TMC Financing was able to respond to her inquiries, help her through the application process, and approve her loans so quickly.
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Linda Fong purchased a building at 325 5th Street in Oakland for $1,850,000 to accommodate her rapidly growing franchise, FASTSIGNS. By utilizing the SBA 504 Program again, Fong made the purchase with only a 10 percent down payment and a record low interest rate, fixed for 25 years.
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Gregg Mitchell recently joined TMC Financing as Chief Operating Officer to lead its talented team to continued delivery of market-leading SBA 504 loan performance and manage its fast-growing loan portfolio.
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