Community Advantage Loans

Loan Process

At SomerCor, we’ve made the loan process efficient and easy to understand. Our goal is to process the loan quickly and send businesses on their way to continued growth.

Here’s how it works:

Step 1

Applicant submits the necessary forms to SomerCor 504, Inc.

Step 2

The request is underwritten for eligibility and credit criteria.

Step 3

Submitted to Loan Committee for decision.

Step 4

If approved, submitted to SBA for approval.

Step 5

Loan authorization is received from SBA.

Step 6

Authorization is reviewed with the client and counsel.

Step 7

SomerCor counsel closes according to authorization requirements.

Step 8

Funds disbursed.

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Download the application form:

Contact Us

Chicago Main Office
601 South LaSalle, Suite 510, Chicago, IL 60605 map
P: (312) 360 3300   F: (312) 757 4370   Email

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