MAY 19, 2023

The National Association for Latino Community Asset Builders (NALCAB) has awarded TMC Community Capital $35,000 in funding and specialized training to more effectively serve minority business owners (MBEs) by adopting new lending technology, improving systems and processes, and  increasing the flow of loan capital. The award is supported by the US Department of Commerce, Minority Business Development Agency.

TMC Community Capital was selected as one of six established nonprofit lenders across the country that provide small business lending and development services to low-wealth and underserved populations that have difficulty accessing capital. Along with grant funds, awardees will receive technical assistance to enhance staff lending expertise, operational efficiency and IT/software performance. TMC Community Capital will also be certified to access the NALCAB Small Business Loan Guarantee (SBLG) Program - a flexible new loan product that increases the size and frequency of business loans going to MBEs by lowering the overall credit risk of participating nonprofit lenders and allowing them to lend more confidently to borrowers with limited collateral and credit history.