TMC Financing opening Roseville office
TMC Financing, a San Francisco-based certified development company, announced Wednesday it will open a loan production office in Roseville.
Certified development companies work with lenders and the Small Business Administration to make SBA 504 real estate loans, which offer long-term, fixed-rate financing.
TMC decided to enter the Sacramento SBA market following the abrupt closure of Resource Capital by the SBA in December, and has hired some of its former employees.
TMC hired Jim Azevedo, a former senior vice president of Folsom-based Resource Capital, as the head of TMC’s new Sacramento operation.
TMC also hired former Resource Capital employees Jason Tydeman as a senior loan officer; Diane Pulley as a senior loan officer; Cheryl Southworth as a servicing associate; and Tim Peterson as a servicing officer.
“This is a great fit. TMC is a dominant player in the Bay Area and there is a lot of synergy that can be leveraged between the Bay Area and Sacramento markets,” Azevedo saidin a news release. “I’ve always said that I’m only as good as the team I represent, and TMC is making a big commitment by also hiring operations staff from Resource, which means that there will be a lot of consistencies in our service delivery.”
The new TMC office in Roseville will be at 3300 Douglas Boulevard, Suite 270.
“Jim and the operations staff we are hiring in Sacramento provide a wealth of SBA knowledge and experience,” TMC CEO Barbara Morrison said in a news release. “We are pleased to take advantage of this opportunity to hire some of the best in the business and to make a strong commitment to the Sacramento market..”
The SBA 504 loan program allows businesses to get access to below-market priced financing with only 10 percent borrower down-payment. The loans can be used to buy, build or renovate buildings and other fixed assets.