TMC Promotes SBA 504 on Chinese Radio
On Tuesday, March 24, 2009 TMC participated in a popular talk show that is broadcasted daily on Sing Tao Chinese radio (1400am). The show is hosted by Ida Choy Yee-Yee and typically features business experts discussing a current subject and answering questions from callers.
The topic of Tuesday’s show was “How has the stimulus package affected U.S. Small Business Administration (SBA) lending programs” and guests included SBA Program Manager Michael Elkin, and TMC Loan Officer Audrey Kan.
Ms. Kan explained the basics of the SBA 504 loan program to listeners and described how the 2009 stimulus package made it even easier for small businesses to obtain SBA 504 financing. Presently, the biggest benefit for potential borrowers from the stimulus package is the temporary elimination of all out-of-pocket fees for SBA 504 loans. This is effective for all new loans approved after 2/17/2009 and will remain in effect through the end of 2009 or until funds are exhausted.
When combined with the extremely low interest rates for SBA 504 loans right now – the March rate of 5.53% is the lowest rate in over 6 years – the stimulus package fee elimination makes it a great time for business owners to utilize SBA 504 financing.
The stimulus package included additional items which benefit the SBA 504 loan program that are currently under review for determination of implementation dates and details. TMC will continue to post updated information as it becomes available on our website at www.tmcd.com.
TMC is very excited about the opportunity for more small businesses to have access to capital they need to sustain and grow their operations. We enjoyed participating in the Sing Tao radio show and reaching out to the local Bay Area Chinese speaking audience.