Somer Cor
Financial Services, 601 S Lasalle St., Chicago, Illinois, 60605, United States, 11-50 Employees
Phone Number: +13*********
Who is SOMERCOR
Catalysts for the Entrepreneurial Dream SomerCor is one of the largest non-profit SBA lenders in the Midwest and consistently ranks in the top 15 of CDCs nationwide. We are a mission-base...
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Headquarters: 601 S Lasalle St., Chicago, Illinois, 60605, United States
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Date Founded: 1992
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Employees: 11-50
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Revenue: $25 Million to $50 Million
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Active Tech Stack: See technologies
Industry: Financial Services
SIC Code: 8742
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NAICS Code: 541611 |
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Frequently Asked Questions Regarding SomerCor
Answer: SomerCor's headquarters are located at 601 S Lasalle St., Chicago, Illinois, 60605, United States
Answer: SomerCor's phone number is +13*********
Answer: SomerCor's official website is https://somercor.com
Answer: SomerCor's revenue is $25 Million to $50 Million
Answer: SomerCor's SIC: 8742
Answer: SomerCor's NAICS: 541611
Answer: SomerCor has 11-50 employees
Answer: SomerCor is in Financial Services
Answer: SomerCor contact info: Phone number: +13********* Website: https://somercor.com
Answer: Catalysts for the Entrepreneurial Dream SomerCor is one of the largest non-profit SBA lenders in the Midwest and consistently ranks in the top 15 of CDCs nationwide. We are a mission-based, nonprofit corporation certified by the Small Business Administration. Our mission is accomplished through SBA loans in partnership with lenders, and through the administration of grant funds through economic development organizations. Since 1992, SomerCor has deployed $1.65 billion in SBA loans to 3,696 businesses in 1,649 communities, leading to the creation of 45,774 jobs throughout Illinois. SomerCor also administers small business grants on behalf of the City of Chicago to promote new economic development in underserved neighborhoods. Between the Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF), more than $123 million has been invested back into the community. What we Offer: SBA 504- We help you obtain the SBA 504 loan which provides financing or refinancing for up to $5.5 million, as much as 90% of the total project cost. Use the 504 loan program to finance the purchase, or refinance, of owner occupied commercial real estate and heavy equipment. SBA 7(a) Community Advantage (CA) loans are used for working capital, debt refinance, tenant improvements, and significant purchases that are part of the day-to-day necessities of running your business. Loans range from $50,000 to $350,000, a range that often falls in a financing gap between microloans and the loan sizes that conventional lenders provide. City of Chicago Grant-Small Business Improvement Fund (SBIF) grants reimburses you for the pre-approved repair or rehab of your business facilities or adjacent land acquisition. You must be located within a specific TIF district. The maximum grant assistance is $250K. City of Chicago Grant- Neighborhood Opportunity Fund (NOF) was created by Mayor Rahm Emanuel to strengthen commercial corridors on Chicagos South,
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