TMC Financing Helped 92 Arizona Small Businesses Secure $342 million in Total Financing in Fiscal Year 2023
For the second year in a row, TMC Financing remains the No. 1 U.S. Small Business Administration (SBA) 504 lender in Arizona. In fiscal year 2023, which ended September 30th, TMC Financing approved 92 SBA 504 loans for $342 million in total project costs.
“The results we achieved this year are truly remarkable,” states Geoff McGivern, TMC’s vice president of business development in Arizona. “Our debut into the Arizona market was in 2021. Now, just two years later, alongside my partner Chris Bane, we have shattered our prior financing record, amplifying our support for Arizona’s small business community.”
Chris Bane, echoing the sentiment adds, “Joining forces with Geoff and TMC has been transformative. We approved an astounding 30% more loans than any other SBA 504 lender in the state, a true milestone. I’m excited for the years ahead.”
TMC Financing, a non-profit mission-based lender, administers below-market, fixed-rate loans to small business owners to purchase, construct, or refinance fixed assets, such as commercial real estate and equipment.
Additionally, TMC Financing is the No. 1 SBA 504 lender in the nation for the third consecutive year. In fiscal year 2023, TMC Financing authorized 461 SBA 504 loans, amounting to $1.7 billion in total financing. The number and volume of loans approved by TMC Financing surpassed all other SBA 504 lenders in the country.
The loans approved by TMC Financing in 2023 are projected to create 4,475 jobs.
Since its founding in 1981, TMC has secured more than $14 billion in SBA 504 commercial real estate financing for 7,000 small businesses. As a result of this financing, these small businesses have created over 60,000 jobs.