SBA 504 Loan Program Key to Made in America Manufacturing Initiative

SomerCor President & CEO, Manny Flores, was on hand for the U.S. Small Business Administration Made in America Manufacturing Initiative road show in Peoria, IL. The effort seeks to cut $100B in regulation, expand access to capital, and create dedicated infrastructure to support manufacturers.

One of the outlined goals of this new SBA initiative is to reduce barriers to capital for manufacturers through the SBA 504 loan program – a zero-subsidy financing option for business owners to buy, build, and refinance fixed assets. 

Being at the launch was a great opportunity to connect with local manufacturers and SBA leadership – including SBA Administrator, Kelly Loeffler, SBA Associate Administrator, Lisa Shimkat, SBA Acting Chief Counsel for the Office of Advocacy, Chip Bishop, SBA Great Lakes Regional Administrator, Everett Woodel, Jr., and SBA Illinois District Director, Willette LeGrant.

To learn more about the initiative, view the official press release here and visit the program’s new landing page.

Sign up for the SomerCor e-newsletter to receive the latest updates on the SBA 504 loan program. For additional information, connect with a member of SomerCor’s loan origination team.