OAKLAND, CA—Programs offered by the Small Business Administration played a vital role in keeping small businesses afloat this year, and the SBA achieved historic numbers in small business lending as a result. In addition to the traditional SBA 504 and 7a loans, the SBA offered Paycheck Protection Program/PPP loans and Economic Injury Disaster loans.
The SBA 504 program enables a business owner to purchase, renovate, construct or refinance commercial real estate with only a 10% down payment and below-market fixed-rate financing.
During the pandemic-fueled downturn this year, Oakland-based TMC Financing saw the desperation in its small business community and was compelled to get involved. In fiscal year 2020, TMC provided $305 million for nearly 300 small and mid-sized businesses throughout California and Nevada via the SBA 504 program.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
