May 2024 SBA 504 Debenture Rates

25 Year 6.55%  |  20 Year 6.65%  |  10 Year 6.89%

Rates include monthly servicing fees to CDC, SBA, and central servicing agent; based on SBA FY24 fees. SBA 504 refi rates are approximately 3 basis points higher than debenture pricing noted above.

Dream it, Do it.

To inquire about an SBA 504 Loan or the City of Chicago SBIF grant. Please click the link below:

How We Help You

Leading with Small Business Administration (SBA) 504 loans, SomerCor offers a unique range of financial solutions to help grow your business. Our objective is to identify the best financial option for your business and guide you through the entire process.

Commercial property lending
$25K-$5.5M (SBA portion)
SBA 504 loans are for owner-occupied property financing (or refinancing) toward land and building purchase or enhancement, including equipment and fixture purchase. Can be applied to projects of any dollar amount.
Permanent building improvement
Up to $250K
City of Chicago Small Business Improvement Fund (SBIF) grants can be used in eligible TIF districts for the improvement of your commercial building interior, exterior, mechanical systems and more, or to acquire adjacent land parcels.
Building rehab or new construction
Up to $250K
City of Chicago Neighborhood Opportunity Fund (NOF) grants are for commercial property acquisition, improvement or new construction in select commercial corridors on Chicago’s South, Southwest and West Sides.

Need help finding the right kind of financing assistance?

Who We Are

Catalysts for the Entrepreneurial Dream

For more than a quarter century, we have helped entrepreneurs like you obtain the financing they need to realize their business dreams. We are a non-profit, small business lender that offers SBA 504 and SBA 7(a) Community Advantage loans, and we administer the City of Chicago’s Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF) grants.

Purpose Driven

Behind every good business is a compelling vision.  And a need for capital.  Our purpose is to guide your vision to reality through impactful financial solutions. That’s because business growth, job creation and community impact are our priorities.

Values Oriented

We get how tough it can be. That’s why we never forget compassion, patience and honesty when we work with you.  With our lending partners, we work efficiently and ethically to provide outstanding customer service and tangible results.


30  Years of Business Impact

as of June 30, 2022


Years in business


$Billions in funding


Businesses helped


Jobs created


Communities helped

Client Stories

Explosive growth fueled by multiple SBA 504 loans

Tek Pak provides precision thermoforming packaging solutions for the electronics, healthcare and consumer industries.  In 1997, the SBA honored them as Illinois exporter of the year. Over the course of 20 years, they have received five SBA 504 loans to purchase their building and equipment, and make leasehold improvements.

I highly recommend SomerCor because without their expertise in how the loan package through the SBA works, it’s difficult to know what the key points are.  You need that help or education.” – Tony Beyer, Owner

Significant business expansion from property acquisition

As their popularity and business grew, Hopleaf, a gastro-pub located in the Chicago Andersonville neighborhood accessed multiple SBA 504 loans since 2012 to expand into two adjacent buildings. Hopleaf has been featured on The Food Network as well as The Travel Channel and has earned a Michelin “Bib Gourmand” designation twice.

Expanded services with equipment purchases

DLV Printing Services was founded in 1992 to provide quality printing, copying, silk screening and apparel embroidery for local businesses, schools, churches and municipalities. The owner utilized an SBA 7(a) Community Advantage loan to purchase and renovate a larger facility for her growing business.

“SomerCor was great. They’re easy to work with. They came out. They walked me through the process. It’s not like the normal loan; you get more of a personal relationship.” – Vernita Johnson, Owner