Ca Commercial Loans

TMC Reports Continued Strong Results

SAN FRANCISCO -- TMC, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, reports its year-to-date loan volume as of June 30, 2011. For the first nine months of the fiscal year, TMC has financed $197 million in SBA 504 commercial real estate loans, a 42 percent increase from the same period the prior year. TMC funded 235 loans, a 50 percent increase from the same period last year. Based on these results, TMC ranked number two in the nation for total loan volume and number three for the number of SBA 504 loans approved during this period.

“We are on pace to match our best year ever,” said Barbara Morrison, CEO and founder of TMC. “Our performance this year indicates that more businesses have the balance sheets that are necessary for growth. The borrowing capacity of small businesses as a whole has increased, and they are taking advantage of attractive property values and low interest rates to acquire commercial space. For businesses that weathered the downturn, there are phenomenal buying opportunities.” TMC’s portfolio saw the greatest gains in healthcare, grocery stores, and the apparel sector.

TMC’s average loan size increased by six percent to $836,000. “This reflects that bigger companies are acquiring bigger spaces,” said Morrison. One of the provisions of the jobs bill increased the size limits for 504 loans enabling larger businesses to qualify for SBA financing. The bill also increased the maximum loan amount available for all companies, with additional funds available for manufacturers and energy efficient projects.

Sustained recovery hinges on small business confidence and job retention.

“As a CDC it is our role to ensure that businesses stay in their buildings and as a result, retain their employees,” noted Morrison. “When businesses are in trouble and have cash flow problems, we are able to modify loans and provide businesses with the time and flexibility needed to recover. We have seen this make a significant impact with our borrowers this year. We see them recover, and we save jobs.”

This fiscal year, the small businesses TMC has assisted with SBA 504 financing have retained more than 5,800 jobs, and committed to creating more than 2000 new jobs.

“Providing a CEO a tax break has no influence on job creation,” said Morrison. “The small business sector will continue to slowly grow us out of recession. However, viable policies and lending practices need to be implemented to make sure the economy does not take two steps back for every one step forward.

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Commercial mortgages are loans taken to purchase a property that will be used for a business or commercial purpose. Properties that will be used as shopping centers, industrial centers, offices, golf courses, resorts, hotels, parking garages, car washes, and other such purposes are termed commercial properties. In California, the best way to apply for a mortgage for a commercial property is to directly contact a commercial mortgage lender. Commercial mortgage lenders also assist the organizations in finding out the mortgage best suited for their type of business. For instance, a mortgage for a single tenant office will be considerably less than that for a heavy manufacturing industry building. This is because the heavy manufacturing industry building will be a bigger structure, with all the measures for dealing with emergencies put into it. On the other hand, this building will be preferably on the outskirts of the city, whereas a commercial office will be situated in the heart of the city. Therefore, based on these criteria, the value of the property and the commercial purpose will play a big role in determining the cost, rate and value of the mortgage. However, it is always a good idea to compare quotes from various commercial mortgage lenders before purchasing the mortgage. These quotes can be obtained free of cost, by putting a request through their official website, by contacting commercial property brokers or by calling the customer service centers of the company.

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