As published in: Yahoo Finance
TMC Financing (TMC Financing) a leading Certified Development Company (CDC) providing U.S. Small Business Administration (SBA) 504 commercial real estate financing in California and Nevada today celebrates in Las Vegas. TMC Financing received SBA certification in 2007 to provide services in the Nevada counties of Carson City Clark Douglas Esmeralda Lyon Mineral Nye Storey and Washoe.
“Making the decision to purchase a building is one of the most significant steps a business can take towards securing its future” said Barbara Morrison President and CEO TMC Financing. “With the SBA 504 program that decision becomes much easier to make because it provides 90% financing and long-term below-market fixed interest rates.”
TMC Financing’s Las Vegas office was started by Ann Santiago and Cindy Santilena two industry leaders who have been active in the SBA 504 loan program in Las Vegas for nearly 25 years. In their five years of leading TMC Financing’s efforts in Nevada Ann and Cindy have provided a total of $107 million in financing to 73 businesses creating and retaining 2239 jobs in the region.
“Small businesses make Las Vegas one of America’s greatest cities” said Ann Santiago Senior Vice President TMC Financing. “Everyone at TMC is honored to have the privilege of serving the local small business heroes who are creating jobs and growing the economy.”
“I am pleased to congratulate TMC on five years of making dreams come true for Las Vegas business men and women” said Edward Cadena SBA Nevada District Director. “Our goal at the SBA is to help small businesses grow and succeed and create new jobs but this doesn’t happen by magic. It takes great partners like TMC who work hard to help borrowers finance new facilities which results in increased sales more jobs positive cash flow and economic growth throughout the region. TMC’s Nevada team is excellent!”
“The 504 program allowed us to reduce our monthly operating costs which allowed us to spend more money towards advertising which brought in more customers. We were able to hire more people as a result” said Michael Spears one of the Owner of Collision Authority the largest and most successful chain of auto body shops in Las Vegas and Henderson Nevada. Collision Authority has added approximately 30 employees since its first 504 loan and expects to add 18 new jobs when they open their new North Las Vegas facility at 2902 E. Craig Road.
“TMC was very knowledgeable and helpful Ann Santiago of TMC treated us like family” said Spears.
In fiscal year 2012 TMC emerged as Las Vegas’ leading 504 lender by both number of loans and loan volume. During the fiscal year which ended on September 30 2012 TMC made 39 loans for a total of $79 million in total small business project financing creating and retaining 1300 jobs.
During the past 30 years TMC has provided approximately $6.4 billion in financing for more than 3900 businesses throughout California and Nevada. This financing has resulted in the creation of 27000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade and is the number one SBA 504 Lender in Northern California and Las Vegas. For more information visit TMC Financing or SBA