SomerCor Partners with IMEC & Cook County to Support Manufacturers

On May 1st, SomerCor teamed up with IMEC, the Cook County Bureau of Economic Development (BED), and the Southland Development Authority, for an event highlighting available resources for manufacturers.

The day kicked off with remarks by Cook County Commissioner Donna Miller. She was followed by Christine Nappo with Cook County BED. After representatives from the County, our event host, South Suburban College in Oak Forest, outlined how they train students in critical skills and help them secure employment with local manufacturers. Attendees also had the opportunity to tour their state-of-the-art Maker Lab that features 3D printers, laser engraving/cutting equipment, and CNC machines.

The bulk of the program focused on the Cook County Manufacturing Reinvented Grant (CCMRG). This program, administered by IMEC, provides eligible manufacturers in suburban Cook County up to $25,000 in grant funds. The grant must be used to address one of four key areas of need: operations, growth, leadership, or workforce. The grant is currently open and accepting applications.

SomerCor President & CEO, Manny Flores, also had the opportunity to present on the SBA 504 loan as a compliment to the CCMRG. For manufacturers ready to buy, build, or refinance commercial real estate or heavy equipment, the 504 can be a great financing solution.

The event closed with a panel discussion featuring the resource providers on-hand, as well as two local manufacturers. A special shoutout to Johny Roumanidakis, President of Netcom Inc, for speaking on the panel. Netcom is a SomerCor client and has also taken advantage of the CCMRG.

To learn more about how your manufacturing business can use SBA 504 program as a financing solution, download the program flyer and connect with a member of SomerCor’s loan origination team today!