The SomerCor Way

SomerCor-team-dinner

Mission

We are catalysts for the entrepreneurial dream. We assist in bringing the entrepreneurial vision into reality through impactful financial solutions. We help businesses grow and positively impact the owners, employees, and communities.

Vision

To be a premier SBA lending and economic development company; thereby helping as many Americans as possible take the next steps towards fulfilling their entrepreneurial dreams.

Values

We care about our clients and believe in treating them with compassion, integrity, fairness, and honesty. We work efficiently and ethically with our partners to provide outstanding customer service and tangible results. In doing so, we have the greatest positive impact on our clients, their businesses, employees, and communities.

Excellence in Service and Integrity

SomerCor is an Accredited Lender Program (ALP) Certified Development Company. ALP status is a prestigious designation granted by the U.S. Small Business Administration to high performing, non-profit SBA 504 lending companies.

SomerCor is a Better Business Bureau accredited business with an A+ rating.

A seal that says accredited lender program sba 5 0 4 loan.
A + rating bbb accredited business

SBA Lending Expertise

Partnering with SomerCor means collaborating with a trusted SBA lending resource. We build lasting relationships with financial institutions, including banks, credit unions, and alternative lenders. By working with us to finance SBA 504 loans, lenders can:

  • Access New Business Opportunities
  • Maintain a First-Lien Position in the Loan
  • Reduce Loan Exposure and Mitigate Risk
  • Foster Long-Term Connections Within the Community
  • Expand Community Reinvestment Act Credit Opportunities

Grant Administration Expertise

SomerCor administers grant and loan funds provided by economic development organizations, including municipalities. By partnering with us, organizations can enhance their impact and extend their reach, creating more jobs, stimulating the local economy, and broadening the tax base.

Your Trusted Partner

At SomerCor, we understand the challenges you face and the hard work you put in to create an economic impact. We are not just a service provider; we are your partner in success. Whether you're a business owner, a lender, or an economic development organization, we are here to deliver impactful financial solutions tailored to your specific needs. Contact us today, and let us help you achieve your business goals.

SomerCor Significant Events

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JULY 21: SomerCor 504, Inc incorporates in Illinois

SomerCor Board of Directors elects Karen Lennon, President & Executive Director, first woman to lead an Illinois CDC

SomerCor moves into its first location at Two East 8th Street, Chicago

SomerCor SBA 504 portfolio reaches $100,000,000 mark

SomerCor enters into an agreement with the city of Chicago to administer the SBIF grant program

SomerCor enters into an agreement with the city of Chicago to administer the Central Loop Improvement Fund program

SomerCor celebrates 10 years of service 

SomerCor Board of Directors elects Russ Lenich, President & Executive Director

NADCO awards SomerCor the Arthur Goodman Achievement and Diversity Award for administering the Small Business Improvement Fund

SomerCor SBA 504 portfolio reaches $250,000,000 mark

SomerCor moves into 601 S. LaSalle Street, Chicago

SomerCor Board of Directors elects David Frank, President & Executive Director

NADCO awards SomerCor the Greatest Increase in Number of 504 Loan Approvals – Portfolio over $200 Million

NADCO awards SomerCor the Greatest Increase in Percentage of 504 Loan Approvals – Portfolio over $200 Million

Crain’s Chicago Business names SomerCor one of the Largest SBA Lenders in Illinois

SomerCor celebrates 20 years of service 

SomerCor enters into an agreement with U.S. Small Business Administration to become a Community Advantage lender

NADCO awards SomerCor the NADCO Diamond Award for Innovation in Economic Development

SomerCor Board of Directors elects Eric Spokas, President & Executive Director

SomerCor enters into an agreement with the city of Chicago to administer the NOF grant program

U.S. Small Business Administration awards SomerCor, the Illinois Community Advantage Lender of the Year

SomerCor Board of Directors elects Manuel “Manny” Flores, President & Chief Executive Officer

SomerCor achieves accreditation with the Better Business Bureau with an A+ rating

U.S. Small Business Administration awards SomerCor the Illinois Community Advantage Lender of the Year

SomerCor partners with the city of Chicago, Cook County, and the State of Illinois in dispersing more than $10.2 million in emergency COVID-19 small business relief grants

U.S. Small Business Administration awards SomerCor prestigious SBA Accredited Lender Program (ALP) Status, a designation granted to high performing CDCs

SomerCor moves into the historic Rookery Building at 209 S. LaSalle St, Chicago

SomerCor receives SBA Local Economic Area (LEA) expansion authority to lend in Kenosha and Rock counties in Wisconsin.

SomerCor celebrates 30 years of service 

SomerCor receives SBA Local Economic Area (LEA) expansion authority to lend in Jasper, Lake, Newton, and Porter counties in Indiana

SomerCor SBA 504 Portfolio reaches $500,000,000 mark

U.S. Small Business Administration grants SomerCor Small Business Lending Company status

Proudly affiliated with:

Management Operations

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Manuel Flores

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Elisabeth Williams

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Amber Smith

VP, Marketing and Communications
(312) 360-3308
asmith@somercor.com

Small Business Grant Programs

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Silvia Orozco

VP, SBIF Program Director
(312) 360-3334
sorozco@somercor.com

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Reuben Waddy

VP, NOF Program Director
(312) 360-3319
rwaddy@somercor.com

SBA 504

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Margaret Griffin

EVP, Chief Lending Officer
(312) 360-3320
mgriffin@somercor.com

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David Sommers

EVP, Loan Servicing Director
(312) 360-3322
dsommers@somercor.com

Community Engagement

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Amber Smith

VP, Marketing and Communications
(312) 360-3308
asmith@somercor.com

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Kimberly Brisky

Managing Dir. of Communications and Engagement
(312) 360-3330
kbrisky@somercor.com

SBA 504 Loan Origination

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Margaret Griffin

EVP, Chief Lending Officer
(312) 360-3320
mgriffin@somercor.com

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Eric Bacon

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Darin Gehrke

SVP Market Lead for Central and Southern Illinois
(217) 793-1075
dgehrke@somercor.com

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Elisabeth Williams

SBA 504 Underwriting

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Manish Laroia

SVP, Chief Credit Officer
(312) 360-3311
mlaroia@somercor.com

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Katy Do

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Monika Gulati

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Daniel Reyes

SBA 504 Closing

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Monika Czubiak

Senior Closing Officer
(312) 360-3321
mczubiak@somercor.com

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Laura Morales

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Janet Pacheco

Post-Closing Administrator
(312) 360-3351
jpacheco@somercor.com

Community Development Initiatives

City of Chicago SBIF/NOF Administrators

A woman in blue shirt and black jacket

Silvia Orozco

VP, SBIF Program Director
(312) 360-3334
sorozco@somercor.com

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Reuben Waddy

VP, NOF Program Director
(312) 360-3319
rwaddy@somercor.com

A woman with red hair and an orange shirt.

LaTonya Jones

SBIF Deputy Director
(312) 360-3312
ljones@somercor.com

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Anastasia Williams

SBIF Project Coordinator
(312) 360-3336
awilliams@somercor.com

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Shalonda Fisher

SBIF Project Coordinator
(312) 360-3331
sfisher@somercor.com

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Justus Wright

SBIF Project Coordinator
(312) 360-3318
jwright@somercor.com

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Marutinandan “Nandu” Dubey

SBIF Project Coordinator
(312) 360-3307
mdubey@somercor.com

Servicing

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David Sommers

EVP, Loan Servicing Director
(312) 360-3322
dsommers@somercor.com

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Sandra Berrios

AVP, Senior Servicing Administrator
(312) 360-3310
sberrios@somercor.com

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Sue Skinner

Loan Servicing Administrator
(312) 360-3309
sskinner@somercor.com

Board of Directors

The SomerCor Board of Directors is comprised of a diverse and dynamic group of senior-level professionals and entrepreneurs. They bring banking, finance, economic development, real estate, legal, marketing, accounting, and fintech expertise.

Our Board provides corporate governance oversight and helps shape the SomerCor strategic vision.

Margy Sweeney

Chairman
Founder & CEO
Akrete

Thomas Huffman

Vice Chairman
Executive Vice President, Wintrust SBA Lending
Wintrust Community Banks

Jon Winick

Chairman Emeritus
Chief Executive Officer
Clark Street Capital

Dean Avdalas

Senior Vice President, Commercial Lending
Byline Bank

Jeffrey Bronswick

James Bruno

Vice President, Area Manager
JPMorgan Chase

Brian Burke

Senior Vice President, Commercial Banking
Old National Bank

Manuel Flores

President & CEO
SomerCor

Michael Martino

Head of Chicago Emerging Middle Market Banking
Fifth Third Bank

Erica McPherson

Michael Plumb

William W. Towns, PhD, MBA

National Market President for Community Revitalization and Public Housing
Gorman & Company

Julie Winterbauer

Senior Vice President, Marketing and Member Relations
Illinois Bankers Association

Simon Yohanan

Senior Vice President, Managing Director of Middle Market Banking
First Bank Chicago