03-04-2010
“Business Chronicles” featured an interview with our own Ann Santiago
In a recent broadcast of the radio show “Business Chronicles,” one of our building development officers from the Nevada office, Ann Santiago, was interviewed.
Archive for the ‘TMC Press’ Category
12-10-2009
Bank of San Francisco Recognizes TMC’s Working Solutions!
Happy holidays from all of your friends at Bank of San Francisco!
We are pleased to announce that we will be making a contribution to TMC Development Working Solutions on behalf of our clients and other friends of the Bank. We believe that there is no better way to show our holiday spirit than by making a contribution to an organization that supports our vibrant, local community. Working Solutions does just that.
09-30-2009
Press: TMC Closes $1.1 Million Real Estate Purchase For Mansa, LLC
TMC Development Closes $1.1 Million Real Estate Purchase For Mansa, LLC Using SBA 504 Real Estate Financing
Napa convenience store, Kwikee Mart, receives funds under SBA loan program
San Francisco, CA – September 17, 2009 – TMC Development, a leading Certified Development Company providing SBA loans in California and Nevada, today announced the closing of a $1.1 million real estate purchase for Mansa, LLC dba Kwikee Mart, a Napa-based convenience store. Owner Satindar Dhillon obtained a Small Business Administration (SBA) 504 loan from TMC Development to purchase the acquisition of a 3,464 square foot building located at 2962 and 2984 Jefferson Street, Napa, CA 94558.
SBA created the 504 loan program in 1980 to provide financing for successful, growing, small and medium-sized businesses. Loan proceeds can be used to purchase, renovate or construct commercial real estate properties, or for the acquisition of equipment that has a life expectancy of 10 years or more.
“Kwikee Mart has become an asset in the Napa community,” said Barbara Morrison, CEO of TMC Development. “The owner was able to take advantage of the current historically low SBA rates under the 504 program to purchase the building he was leasing. The change from being a renter to an owner will allow him to stabilize occupancy costs, receive tax benefits, and build equity for his business.”
As a Certified Development Company, TMC Development has been providing SBA financing to borrowers for over 25 years. TMC’s staff works directly with borrowers, first mortgage lenders, and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity.
About TMC Development
TMC Development has been ranked in the top 10 Certified Development Companies in the nation for over a decade. During the past 27 years TMC has provided over $5 billion in financing for more than 3,200 businesses throughout California and Nevada. For more information go to www.tmcd.com.
09-30-2009
Press: TMC Closes $7.3 Million Sale for Craig P. Kenny & Associates
TMC Closes $7.3 Million Sale for Craig P. Kenny & Associates Using SBA 504 Real Estate Financing
Las Vegas law firm receives SBA funds to build 20,000 SF downtown office
San Francisco, CA – September 17, 2009 – TMC Development, a leading Certified Development Company providing SBA loans in Nevada and California, announced the closing of a $7.3 million deal for Craig P. Kenny & Associates Inc., a Las Vegas law practice. Owner Craig Kenny obtained a Small Business Administration (SBA) 504 loan from TMC Development to purchase the land and fund the construction of a 20,000 square-foot building located at the south-east corner of Clark Avenue and 8th Street, Las Vegas, NV 89101.
For over 16 years Craig P. Kenny and Associates has been serving greater Las Vegas with legal services specializing in personal injury, worker’s compensation, medical negligence, and criminal defense. With Craig Kenny’s commitment to assisting the local community it has always been important that his business be located in the heart of downtown Las Vegas. The SBA loan used to build the new facility is a replacement for 2 prior leased locations and offers the business room to grow with their continued success. Making the leap from leasing to owning also provides fixed occupancy costs, tax benefits, and the opportunity to build equity for the business.
SBA created the 504 loan program in 1980 to provide financing for successful, growing, small and medium-sized businesses. Loan proceeds can be used to purchase, renovate or construct commercial real estate properties, or for the acquisition of equipment that has a life expectancy of 10 years or more.
“Craig P. Kenny & Associates has chosen the perfect time to start construction on a new property,” said Barbara Morrison, CEO of TMC Development. “Healthy businesses who want to move from leasing to owning or expand into a larger space can take advantage of the current historically low SBA interest rates and financing available for projects up to $20 million.”
As a Certified Development Company, TMC Development has been providing SBA financing to borrowers for over 25 years. TMC’s staff works directly with borrowers, first mortgage lenders, and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity.
About TMC Development
TMC Development has been ranked in the top 10 Certified Development Companies in the nation for over a decade. During the past 27 years TMC has provided over $5 billion in financing for more than 3,200 businesses throughout California and Nevada. For more information go to www.tmcd.com.
09-04-2009
Press: TMC Closes 3 East Bay Real Estate Sales
Published in the: San Francisco Business Times – September 2, 2009
TMC Development helps with three real estate deals
TMC Development, a company that provides Small Business Association financing in California and Nevada, helped three firms close deals to buy sites in East Bay totaling close $9 million.
The properties were given loans through the SBA’s 504 program for small to medium sized businesses.
The three deals include:
•Philippine Fruit Corp. purchased a 61,792-square-foot building at 33288 Alvarado Niles Road and 33589 Central Avenue in Union City for $6.5 million.
•1Source Electrical Contractors purchased a 12,054-square-foot building at 600-628 Pinnacle Place in Livermore for $1.275 million.
•Bay Area Trenchers purchased an 11,000-square-foot industrial building at 8240 Enterprise Drive in Newark for $1.2 million.
“The SBA 504 program was designed for companies like these who prefer to operate their businesses in builidings that they own, rather than pay rent to a landlord,” said Barbara Morrison, CEO of TMC Development. “With SBA rates at historic lows this is the perfect time for healthy businesses to take advantage of this financing and make the move to own their building.”
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08-10-2009
TMC Closes $10.5 Million Deal for Service West, Inc.
East Bay modular office installation business receives SBA financing under new SBA Energy Efficient Public Policy Goals
TMC Development, a leading Certified Development Company providing SBA loans in California and Nevada, today announced the closing of a $10.5 million project for Service West, Inc. an East Bay-based provider of installation, storage and delivery services for contract office furniture. A Small Business Administration (SBA) 504 loan was used to purchase a 130,000 square foot commercial building located at 2054-2070 Burroughs Avenue in San Leandro. The subject property is a replacement property for 3 existing locations. The Service West, Inc. loan was the first project TMC Development had approved under SBA’s new Engery Efficiency Public Policy Goals.
SBA recently expanded the 504 loan program to offer increased financing (up to $4 million on the SBA portion of each 504 loan as opposed to the $2 million standard maximum) for any project designed to reduce energy consumption by at least 10% or which generates renewable energy or fuels.
“Service West is a perfect example of how recent changes to the SBA 504 loan program make this type of financing an even better fit for larger projects,” said Barbara Morrison, President of TMC Development. “With a high loan-to-value ratio, significant fee reductions as part of the President’s effort to stimulate the economy with the ARRA, and SBA’s new energy policy, it is truly an ideal time for businesses to take advantage of available 504 financing.”
SBA interest rates are at historic lows and financing is available for projects up to $20 million. TMC has been providing SBA financing to borrowers for over 25 years. TMC’s staff works directly with borrowers, first mortgage lenders, and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity. To learn more please visit our website at www.tmcd.com or contact us at 888.989.8855.