January 31, 2013
A number of Resource Capital employees who lost their jobs on Christmas Eve have been hired by San Francisco-based TMC Capital.
TMC has hired Jim Azevedo, a former Senior Vice President of Resource Capital, as the head of its new Sacramento operations.
“This is a great fit. TMC is a dominant player in the Bay Area and there is a lot of synergy that can be leveraged between the Bay Area and Sacramento markets,” said Jim Azevedo, Senior Vice President, TMC Financing. “I’ve always said that I’m only as good as the team I represent, and TMC is making a big commitment by also hiring operations staff from Resource, which means that there will be a lot of consistencies in our service delivery.”
TMC has hired former Resource Capital employees Jason Tydeman, Senior Loan Officer; Diane Pulley, Senior Loan Officer; Cheryl Southworth, Servicing Associate; and Jim Peterson, Servicing Officer. TMC plans to open a new branch office located at 3300 Douglas Boulevard, Suite 270, Roseville, CA to serve the greater Sacramento region.
“TMC is very innovative in their approach to processing 504 loans,” said Azevedo. “I think TMC’s forward-thinking approach and lending expertise will be well received by the players in our marketplace.”
“TMC Financing is the largest Certified Development Company here in Northern California and one of the strongest CDCs in the country,” said SBA San Francisco Office District Director Mark Quinn. “For TMC to expand their services by opening a branch office in Sacramento is great news for small businesses in the area who want to purchase and enhance their own facilities with fixed rate financing through the SBA 504 program.”
TMC provides access to the SBA’s 504 Loan Program, which provides growing small- and medium-sized businesses with long-term, below-market, fixed-rate financing with only 10% borrower down-payment required. Loan proceeds can be used to purchase, construct, or renovate buildings and other fixed assets to expand or modernize the business.
“Jim and the operations staff we are hiring in Sacramento provide a wealth of SBA knowledge and experience,” said Barbara Morrison, TMC’s President and CEO. “We are pleased to take advantage of this