SOURCE: TMC Development

September 29, 2009 13:47 ET

TMC Development Closes $3 Million Las Vegas Medical Building Purchase Using SBA Financing

Orthopaedic Specialists of Nevada LLC Receives Funds Under SBA 504 Real Estate Program

SAN FRANCISCO, CA--(Marketwire - September 29, 2009) - TMC Development, a leading Certified Development Company providing SBA loans in California and Nevada, today announced the closing of a $3 million sale for Orthopaedic Specialists Inc., a Las Vegas-based medical practice devoted to the diagnosis, treatment, rehabilitation and prevention of musculosketeal injuries and diseases. Owners Dr. Mark Sylvian, Dr. Michael Monroe and Dr. Richard Wulff obtained a Small Business Administration (SBA) 504 loan from TMC Development to purchase and make improvements to two office buildings located at 3233 and 3217 W. Charleston and 1109 Cashman Drive, Las Vegas, NV, 89102. The 21,600 square-foot real estate purchase provides the business with twice the space of their previous leased location while offering fixed occupancy costs and room for growth.

"Orthopaedic Specialists needed more space to expand their business, and now is the perfect time to purchase a property for this purpose," said Barbara Morrison, CEO of TMC Development. "Healthy businesses who want to move from leasing to owning or expand into a larger space can take advantage of the current historically low SBA interest rates, the high inventory of properties, and financing available for projects up to $20 million."

The SBA created the 504 loan program in 1980 to provide financing for successful, growing, small and medium-sized businesses. Loan proceeds can be used to purchase, renovate or construct commercial real estate properties, or for the acquisition of equipment that has a life expectancy of 10 years or more.

As a Certified Development Company, TMC Development has been providing SBA financing to borrowers for over 25 years. TMC's staff works directly with borrowers, first mortgage lenders, and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower's credit capacity.

About TMC Development Corporation

TMC Development has been ranked in the top 10 Certified Development Companies in the nation for over a decade. During the past 27 years TMC has provided over $5 billion in financing for more than 3,200 businesses throughout California and Nevada. For more information go to http://www.tmcd.com.

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