SomerCor

SomerCor, a top 20 CDC, is a non-profit specializing in SBA 504 & 7(a) CA loans, and SBIF & NOF grants. Established in 1992, the organization has deployed $1.65 billion in SBA loans, creating 45,774 jobs across 1,649 communities in Illinois. SomerCor also manages small business grants for the City of Chicago, injecting over $123 million into underserved neighborhoods. Their services include SBA 504 loans for real estate and equipment financing, SBA 7(a) Community Advantage loans for working capital, and City of Chicago grant programs like SBIF and NOF, catering to businesses within specific TIF districts. With a focus on economic development and job creation, SomerCor plays a crucial role in fostering entrepreneurship and supporting small businesses in the Midwest.