SBIF

SOMERCOR CELEBRATES 30 YEARS OF SMALL BUSINESS LENDING

Retrieved on: 
Thursday, July 21, 2022
ALP, Small Business Administration, NOF, Small business, CDC, CEO, Compliance, SBA 504 Loan, National Association, City, SBIF, Ecosystem, Business Development Company, Economic development, SBA, Growth, Bank

SomerCor provides small business owners with affordable financing through the U.S. Small Business Administration (SBA) 504 loan program, an economic development initiative that helps small businesses expand their operations through the purchase of real estate or fixed equipment.

Key Points: 
  • SomerCor provides small business owners with affordable financing through the U.S. Small Business Administration (SBA) 504 loan program, an economic development initiative that helps small businesses expand their operations through the purchase of real estate or fixed equipment.
  • SomerCor also administers small business grants on behalf of the City of Chicago to promote new economic development in underserved neighborhoods.
  • SomerCor is a non-profit lender, certified by the Small Business Administration, which specializes in originating and servicing SBA 504 loans.
  • SomerCor also administers the Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF) grants for the city of Chicago.

CIBC, SomerCor & World Business Chicago Join Mayor Lightfoot to Present a New Small Business Accelerator Program, "Black & Latino Excellence Investment Summit"

Retrieved on: 
Thursday, June 16, 2022
Solution, Entrepreneurship, CIBC Bank USA, Public sector, View, CEO, Summit, Small Business Administration, JPMorgan Chase, SBIF, CIBC, Small business, NOF, SBA, City, Growth, World Business, Human, Program, Community Impact Newspaper, WBC, Acquisition, Workforce, Color, Wintrust Financial, Multimedia, Airline, Video game, Black

CHICAGO, June 16, 2022 /PRNewswire/ -- CIBC, SomerCor and World Business Chicago will join Chicago Mayor Lori Lightfoot today, June 16, at an event to recognize inaugural small business accelerator program, Black & Latino Excellence Investment Summit, assisting development opportunities requiring capital. 

Key Points: 
  • CHICAGO, June 16, 2022 /PRNewswire/ -- CIBC, SomerCor and World Business Chicago will join Chicago Mayor Lori Lightfoot today, June 16, at an event to recognize inaugural small business accelerator program, Black & Latino Excellence Investment Summit, assisting development opportunities requiring capital.
  • "The City is committed to working with partners like World Business Chicago, CIBC, and SomerCor to scale up employment opportunities and small businesses in Black and Hispanic communities across our city.
  • SomerCor is a non-profit lender, certified by the Small Business Administration, that specializes in originating and servicing SBA 504 loans.
  • World Business Chicago (WBC) serves a critical role in driving inclusive and equitable recovery throughout the city's 77-neighborhoods.

SomerCor and NAWBO Chicago Collaborate to Empower Women Entrepreneurs

Retrieved on: 
Monday, March 28, 2022
National Association of Women Business Owners, Human, Public policy, SBA, Multimedia, National Association, Small Business Administration, Woman, CEO, SBIF, Small business, NOF, NAWBO, Female, Management

As a nonprofit, Small Business Administration (SBA) certified lender, SomerCor is a natural fit to support NAWBO Chicago members with their capital needs.

Key Points: 
  • As a nonprofit, Small Business Administration (SBA) certified lender, SomerCor is a natural fit to support NAWBO Chicago members with their capital needs.
  • "Working with NAWBO Chicago helps expand SomerCor's footprint in a committed effort to be a resource for women small business owners," said SomerCor President and CEO, Manuel Flores.
  • "This spring we are excited to host a new three-part education series to empower women entrepreneurs as they seek and plan how to use capital for their businesses in growth mode."
  • SomerCor also administers the Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF) grants for the city of Chicago.

SomerCor CEO, Manuel Flores, Tapped to Co-lead Cook County Economic Development Advisory Subcommittee for Small Businesses

Retrieved on: 
Tuesday, November 2, 2021
Chairperson, United States House Small Business Subcommittee on Economic Growth, Tax and Capital Access, SVP, Ecosystem, Cook County Board of Commissioners, Flores, SBA 504 Loan, Small business, PNC Financial Services, Policy, SBIF, Community development bank, NOF, Community development, CEO, Growth, Homart Development Company, Small Business Administration, SBA, CDC, Committee, EDAC, GDP, Management, Renewable energy

CHICAGO, Nov. 2, 2021 /PRNewswire/ -- SomerCor , a Small Business Administration (SBA) Certified Development Company (CDC), is proud to announce that President & CEO, Manuel Flores, was appointed Co-Chair of the newly created Small Business Subcommittee of the Cook County Economic Development Advisory Committee (EDAC) .

Key Points: 
  • CHICAGO, Nov. 2, 2021 /PRNewswire/ -- SomerCor , a Small Business Administration (SBA) Certified Development Company (CDC), is proud to announce that President & CEO, Manuel Flores, was appointed Co-Chair of the newly created Small Business Subcommittee of the Cook County Economic Development Advisory Committee (EDAC) .
  • EDAC is an advisory body comprised of business leaders and economic development professionals appointed by Cook County Board President Toni Preckwinkle.
  • The past year, Cook County worked diligently to create policies and a platform to assist small businesses.
  • The Small Business Subcommittee will be tasked with providing policy and strategic guidance to support the ongoing work and growth of the Cook County Small Business Agenda and related initiatives.

SomerCor, Leading SBA 504 Lender, Grows its Board of Directors

Retrieved on: 
Tuesday, September 21, 2021
Public sector banks in India, Small Business Administration, SBA 504 Loan, First Midwest Bancorp, SBA, Small business, Board of directors, Community Bank, DLK, GAC, JPMorgan Chase, Associate, IBA, CDC, Board, Business, CEO, Lee, NOF, LLC, SBIF, Community development, Byline Bank, Commercial, Infrastructure Development Company, Fifth Third Bank, Economic development, Bank, Rizal Commercial Banking Corporation, Industry, Community development financial institution, CDFI, Management, Drug

The new board members span across the financial services industry, bringing new sector perspectives and expertise to the organization.

Key Points: 
  • The new board members span across the financial services industry, bringing new sector perspectives and expertise to the organization.
  • "SomerCor has been serving small businesses and SBA 504 lending partners for more than 29 years.
  • "These Board appointments reflect our readiness to increase our lending and community development impact as a mission-based SBA lender."
  • SomerCor is a non-profit lender, certified by the Small Business Administration, that specializes in originating and servicing SBA 504 loans.