TMC Community Capital is setting up shop in Downtown San Jose

TMC Community Capital is moving into their Downtown San Jose office at 44 S. 1st Street. on July 1st. The company specializes in providing affordable microloans ranging from $5,000 to $50,000 to underserved entrepreneurs. 

I love both their backstory and their mission. Have a look at the full press release below:

San Jose, CA –  TMC Community Capital is proud to announce the grand opening of its new office in Downtown San Jose, marking a significant milestone in the nonprofit microlender’s mission to advocate for financial justice among marginalized communities in California.

TMC Community Capital is a provider of affordable loans, ranging from $5,000 to $50,000, with a mission to support and serve various entrepreneurs, particularly women-owned, low-income, and under-resourced small businesses in California.

TMC Community Capital is not just a financial lifeline; it is a beacon of empowerment. Through tailored financing options, the organization provides vital capital necessary for businesses to grow, create jobs, and make lasting contributions to the local economy. By fostering a culture of knowledge-sharing, TMC Community Capital empowers entrepreneurs to navigate the challenges of business ownership and achieve sustainable growth.

The City of San Jose is known for its entrepreneurial spirit, but local entrepreneurs often face significant challenges. With extensive experience working with hundreds of small businesses in the area, TMC Community Capital is making it clear that they are here to open doors for local entrepreneurs.

At an early age, Daniel Fernandez and his family would wake up early to help his grandmother sell home goods at Berryessa and Capitol Flea Markets. His mother worked night shifts at the Oakland Post Office processing plant and sold handmade apparel on the side to subsist as a single mother to three boys. These experiences instilled in Daniel a deep understanding of the critical role entrepreneurship and informal work play in his community. This personal history fuels his dedication to TMC Community Capital's mission.

"We are thrilled to expand our presence in San Jose, a vibrant and diverse city with immense entrepreneurial potential." said Daniel Fernandez, CEO of TMC Community Capital. "Our new office will enable us to provide even more targeted support to small business owners who are often overlooked by traditional lenders. We are here to ensure that they have the resources and guidance they need to thrive."

TMC Community Capital’s impact is undeniable. To date, the organization has lent more than $7.3 million, served over half the counties in California, created more than $4 million in additional wage earnings, and generated over $14 million in local economic impact. In 2023 alone, 82% of their loans went to entrepreneurs of color, with more than half of their loan volume supporting women-owned businesses.

TMC Community Capital will officially move into its new San Jose office on July 1st. This new chapter in San Jose underscores the organization’s continued commitment to opening doors and creating opportunities for small business owners throughout California.

For more information about TMC Community Capital and their services, please visit tmccommunitycapital.org

About TMC Community Capital: 

TMC Community Capital is transforming the landscape of microfinance by addressing unmet needs and meeting small businesses where they are. As a nonprofit microlender, TMC Community Capital is dedicated to leveling the financial playing field and empowering women-owned, low-income, and under-resourced small businesses in California. By driving financial equity, bridging the digital divide, and delivering an outstanding user experience, TMC Community Capital ensures these businesses have the resources they need to thrive.

TMC Community Capital's mission is clear: to build a world where every entrepreneur, regardless of their background or circumstances, has equal access to capital and opportunities. The organization firmly believes that every individual deserves a chance to pursue their dreams and make a positive impact in their communities.

As a CDFI-approved microlender, TMC Community Capital is committed to breaking down financial barriers and fueling innovation. Through tailored financing options, the organization provides vital capital necessary for businesses to grow, create jobs, and make lasting contributions to the local economy. By fostering a culture of knowledge-sharing, TMC Community Capital empowers entrepreneurs to navigate the challenges of business ownership and achieve sustainable growth.