TMC Financing Appoints Omar Salah as New President and CEO, Transitioning Leadership

TMC Financing Appoints Omar Salah as New President and CEO

TMC Financing, a renowned nonprofit and one of the largest Certified Development Companies (CDC) in the nation, has officially announced the appointment of Omar Salah as President and CEO. This leadership transition comes as Barbara Morrison, the founder and longtime leader of TMC, steps down after decades of dedication to fostering small business growth.

A Legacy of Leadership

Barbara Morrison founded TMC Financing in 1981, establishing it as a key player in supporting small businesses through affordable financing. Over her impressive tenure, TMC has facilitated more than $16 billion in SBA 504 commercial real estate loans, positively impacting the lives of over 8,000 small businesses across five states, including California, Nevada, Arizona, Oregon, and Hawaii. This has contributed to the creation of an estimated 78,000 jobs, a testament to Morrison's commitment to economic development and her profound influence on the SBA 504 community.

DJ Kurtze, Chair of the TMC Financing Board, expressed immense gratitude for Morrison's leadership, stating, "Barbara is truly an icon in the SBA 504 community. Her vision, tenacity, and unwavering commitment to small businesses have shaped not only TMC, but the entire industry. We are deeply grateful for her decades of leadership and the legacy she leaves behind."

Reflecting on her time at TMC, Morrison stated, "I am incredibly proud of what TMC has accomplished and the extraordinary team that made it possible. Together, we've built an organization that drives small business job creation and economic growth. I'm confident that TMC will continue to thrive under Omar's leadership."

Introducing Omar Salah

Omar Salah, the newly appointed President and CEO, brings over 20 years of extensive experience in banking, entrepreneurship, and innovation. Before joining TMC, he served as Executive Vice President and National Director of Small Business Banking for Comerica Bank. In this role, Salah was influential in launching several innovative initiatives, including the bank's first small business digital lending program and Zelle for Small Business.

His prior experience also includes significant contributions at MUFG Union Bank where he established a new Small Business Banking organization and spearheaded the rollout of the Paycheck Protection Program (PPP).

Salah holds a doctorate from the University of Southern California, where he focused on human performance improvement and organizational trust. Additionally, he has an MBA from the University of California, Irvine, and a bachelor's degree from California State University, San Marcos.

Vision for the Future

Salah's strategic vision and operational expertise are highly regarded, positioning him as the ideal leader to build on Barbara Morrison's legacy. Kurtze noted, "Omar brings a rare blend of strategic vision, operational excellence, and a deep commitment to small business success. His leadership experience and innovative mindset make him the perfect person to lead TMC into its next era."

Salah himself expressed his enthusiasm for the role and the work ahead, stating, "I'm honored to join TMC and lead an organization that has empowered thousands of small businesses to grow and thrive. I look forward to working with our dedicated team and partners to expand access to capital and opportunity for entrepreneurs across TMC's footprint."

The leadership change was facilitated by Kate Shattuck and Michael Givner of Korn Ferry, who conducted a national executive search to identify a successor. Kurtze expressed his appreciation for their professionalism and insight during the selection process, emphasizing the importance of finding a leader who is not only qualified but also deeply aligned with TMC's mission and values.

About TMC Financing

TMC Financing is a nonprofit 501(c)(4) organization dedicated to promoting economic development and job creation by facilitating access to affordable financing for small businesses. Since its inception, TMC has provided approximately $16 billion in SBA 504 financing, significantly contributing to job creation and economic growth in the regions it serves. TMC is acknowledged as the top SBA 504 lender in the U.S., underscoring its crucial role in supporting small businesses in their journey towards success.

With the helm now passed to Omar Salah, TMC Financing looks forward to continuing its mission under new leadership, eager to embrace the future and explore innovative pathways to further support small businesses across the country.