TMC Financing Releases Annual Small Business Outlook Survey for 2022

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TMC financing

A large majority of SBA 504 loanholders surveyed said the program has helped their business.

TMC Funding (TMC) is pleased to announce the release of its annual Small Business Outlook Survey. The Small Business Outlook Survey provides insight into the expectations of small business owners as they plan for the new year.

TMC Financing interviewed 350 small business owners from our portfolio of financing recipients in California, Arizona and Nevada to understand how the pandemic is affecting their strategy and what they hope to achieve in 2022. The news was generally upbeat.

Here are some of the most important highlights:

  • 55% of business owners surveyed plan to hire in 2022.
  • 67% said they did not plan to refinance during the year.
  • 85% of respondents said the SBA 504 loan helped their business.

The economic impact of the pandemic is losing its grip as business owners look to 2022

Overall, respondents report putting the economic impact of the pandemic in the rearview mirror. A striking 68% of respondents said their income had increased in 2021, far more than the 45% who predicted it would at the start of the year.

Looking ahead, 64% of respondents predict that 2022 will see an increase in activity. Only 7%, one of the lowest figures on record, expect their income to fall in the coming year. Twenty-nine percent say the income situation is likely to stay about the same through 2022.

A total of 4,206 jobs will be created with funding from TMC Financing in fiscal year 2021.

The SBA 504 has helped many business owners maintain stability in 2021

TMC has provided applicants with a total of $448 million in SBA 504 funding in 2021. Overseen by the Small Business Administration and issued by certified development companies, the SBA 504 loan program is designed to help business owners purchase, build or refinance owner-occupied commercial real estate.

The SBA 504 loan program offers financing at below-market fixed interest rates. Down payments as low as 10% ensure business owners maintain the cash flow they need to operate and reinvest in their business. There is no lump sum payment and all loans are fully amortized over 25 years.

A large majority (85%) of SBA 504 loanholders surveyed said the program has helped their business:

  • “It gave me stability.”
  • “It made the purchase of my building possible.”
  • “We were able to expand our geographic reach.
  • “It helped grow our business.
  • “Low interest rates mean more cash.”

As Other Federal Programs Fade, SBA 504 Continues to Grow

While many federal programs aimed at mitigating the pandemic have shut down over the past year, the SBA 504 loan program is not one of them. The SBA 504 long predates the pandemic and is just one of many long-term programs the Small Business Administration uses to promote economic growth.

Interest in the SBA 504 loan program is growing. TMC Finance executives suggest that those interested in the program contact them immediately by contacting a TMC Business Development Officer (BDO) in their area.

With expertise dating back to its founding in 1981, TMC is a leader in helping business owners successfully navigate the SBA 504 program. It has secured a total of over $10 billion in SBA commercial real estate financing 504 for over 6,000 small businesses, creating over 60,000 jobs.

As a 501(c) 4 nonprofit, the organization – led by award-winning serial entrepreneur Barbara Morrison – is on a mission to promote economic development and job creation for small businesses in its tri-state service area.

To learn more about the results of TMC’s 2022 Small Business Outlook Survey, visit https://www.tmcfinancing.com/2022-small-business-outlook/

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