SomerCor Board Feature: Tom Huffman
Get to Know the SomerCor Board of Directors: Tom Huffman
Get to know the SomerCor Board of Directors! Our Board is comprised of accomplished leaders that span the financial service industry and are dedicated to our mission. This week, meet Tom Huffman with Wintrust Community Banks.
Tell us a little bit about yourself and your professional experience:
I grew up in a large family in St Louis. I am second of seven kids. I attended Marquette University. Upon graduation, I return home and started working for small community bank (First Bank) near my parent’s home. The bank expanded into Chicago and California during my tenure. In 1999, I transferred to Chicago for the bank and moved my young family to Glenview. Today, my wife and I still live in Glenview and two of my kids are adults and my youngest is still in college. In 2006, I was part of the executive team that purchased Ridgestone Bank. During my tenure, the bank became a top SBA lender in the Midwest. In 2011, I moved to Wintrust to start an SBA Lending unit for them. Wintrust relationship banking model was a good fit for my 20 plus years of business banking and commercial real estate lending experience. The customer first model has served us well. For the last two years, Wintrust Community Banks collectively is the number one SBA lender in Illinois.
Why were you interested in serving on the SomerCor Board:
Over the years, I have volunteered for the local park district, school and parish. When the opportunity for me to provide my professional / SBA expertise, I jumped at the chance to give back to the small business community of Chicagoland.
What are your goals for SomerCor’s growth and our impact on small businesses:
The primary goal of any and all Community Development Companies (CDC) like SomerCor is job creation via SBA 504 lending program. SomerCor has a great reputation. I would like SomerCor to become and maintain a top 10 national CDC with a focus on manufacturing, construction and other well paid industries. With that as our base, SomerCor can then grow their small business grant programs like SBIF and NOF. The final leg of the three legged stool would be to provide micro loans to small businesses owned by underserved business owners via SBA Community Advantage loan program.
The SomerCor mission is to grow businesses, create jobs, and increase impactful investment in every community through the SBA 504 loan program and other financing and grant initiatives. SomerCor serves the entire state of Illinois and Kenosha and Rock counties in Wisconsin.
