“Control your own destiny, grow your business and build equity for your future!” #SFSBW2016 Interview: TMC Financing
#SFSBW2016 asked our sponsors to share insights, best practices, and examples of how they help small business owners flourish. Today we hear from TMC Financing.
What is your company’s mission?
TMC provides owner-occupied commercial real estate financing to Bay Area businesses through the SBA 504 loan program. Own your building with as little as 10 percent down at below-market, long-term, FIXED interest rates.
How does your organization support and engage the small business community?
TMC Financing is the No. 1 SBA 504 lender in Northern California.
TMC has the fastest loan turnaround time at SBA among our peers.
We have helped more than 5,000 businesses buy, build or renovate commercial real estate projects totally more than $8 billion in California and Nevada.
What tools and resources has your organization created to help small businesses tap into new opportunities to reach new customers, increase their revenue, and grow their business?
After labor, occupancy costs are a small business’ biggest expense. We help small business owners control those costs by owning their own buildings. You might as well write that rent check to yourself.
We guide small business owners through the SBA lending process for the purchase, construction or renovation of commercial real estate or other fixed assets like machinery/equipment.
Building owners build equity, stabilize their businesses and can set themselves up for a sound future.
What are the trends you see when you think about the small business marketplace, and how will these trends shape the future of small business?
In San Francisco, we see small businesses being forced out their long-time locations by rising rent. Owning your facilities can solve that problem and set you up for success.
Can you share one brief story about how your company is helping San Francisco businesses thrive?
One of our clients, TEF Design, is an architecture firm that does a lot of work with the City of San Francisco and other public entities. They had leased office space in Union Square for decades, but suddenly rents were skyrocketing and they faced having to pay double for the same space.
They were looking at having to leave the city and perhaps risk losing some important clients. We helped them buy their own building, remodel the space to fit their needs and save money on their occupancy costs.
And, coincidentally, the previous owners of the building TEF bought had financed the building with TMC many years prior.
In the past 35 years, we’ve financed an amazing number of small business buildings in San Francisco.
What words of advice or wisdom would you like to share with small business owners?
Owning your building makes a lot of sense for most small businesses. Controlling your costs helps you control your own destiny, grow your business and build equity for your future.
Many of our small business owners say buying their building was the best retirement plan they never planned!
The process may seem daunting, but TMC has been doing this for decades. We’ve earned the SBA’s highest rating (4 stars), which means our loans get expedited processing.
Our job is to serve as a guide and advocate for the small business owner and we love every minute of it!