SomerCor

06/03/2026

Health care providers in private practice wear many hats. In addition to being a critical part of our health care system, they are also small business owners.

The loan program can help individual and group health care provider practices looking for more space and the freedom to personalize it to meet the highest level of patient care. Learn how the SBA 504 loan program can provide health care professionals financing to lower monthly payments, leverage equity for cash out, and build a stronger practice going forward: https://hubs.li/Q04j-NbM0

The SBA 504 loan program can help individual and group health care provider practices looking for more space and the freedom to personalize it to meet the highest level of patient care. It can be a great financing option for doctors, dentists, optometrists, physical therapists, mental health practit...

06/02/2026

Calling all manufacturers - SomerCor is excited to partner with the IL Small Business Development Center - SBDC at Chicagoland Chamber, Bank of America, Make It In Illinois, and the Illinois Innovation Network for Industry Ignited - Chicago Manufacturing & Capital. Join SomerCor SVP, Mike Piazza, on June 17th for a dynamic convening of manufacturers, capital providers, and ecosystem partners designed to connect small and mid-sized manufacturers with the financial resources, workforce solutions, and contracting opportunities needed to grow.

Register here https://hubs.li/Q04jN2j80 or via QR code to attend this FREE event. Attendees will also have the option to tour the MTEC facility and expand their network within Chicago’s manufacturing ecosystem.

06/01/2026

A new round of districts are open for applications in June! Register now at: https://hubs.li/Q04jBZ5R0 to join SomerCor and the City of Chicago Department of Planning & Development for a webinar on June 3rd at 1pm to learn how to apply for up to $250,000 in grant funds to make permanent building improvements to your small business.

05/29/2026

Congratulations to Angelica Garcilazo on being the first recipient of the SomerCor Cook County Down Payment Assistance Program (DPAP)!

Angelica's insurance agency has been in business over seven years. She partnered with SomerCor SVP, Eric Bacon, and Eduardo Aguilar (Old National Bank) on an loan for the purchase of a building in Chicago's Archer Heights neighborhood to stabilize occupancy costs, build equity, and grow her customer base.

In partnership with the Cook County Source, SomerCor launched DPAP to help businesses purchase their first own-occupied commercial real estate with the SBA 504 program. Eligible businesses can receive up to $25,000 in grant funds to reduce upfront costs and invest that capital back into their operations.

Thank you to Xochitl Flores and her team at the Cook County Bureau of Economic Development for their support of DPAP. And a special shoutout to U.S. Small Business Administration Illinois District Office Director, Willette LeGrant, and SomerCor Board Member Brian Burke, for joining us to mark this milestone.

Own the business? Own the building!

05/28/2026

SomerCor is excited to be a Title Sponsor for the upcoming Achieve Summit, hosted by the Southland Development Authority! In partnership with the Cook County Source, our team will be on hand to promote the power of ownership through the loan and the SomerCor Cook County Down Payment Assistance Program.

Register today at https://hubs.li/Q04jhJcK0 to connect with entrepreneurs, investors, developers, and business leaders who are building the future of the Southland region. Join us June 4-6 at the Wind Creek Southland. Own the business? Own the building!

05/27/2026

The loan presents an attractive, low-cost way for lawyers, accountants, insurance agents, architects, and other professional service providers to acquire fixed assets and position their practices for growth. The SBA 504 program can be used to purchase and renovate office spaces, invest in new equipment, and expand existing facilities - building equity and long-term security and control over occupancy costs.

A big SomerCor shoutout to the team members who worked on this project: Michael Piazza, Eugene Lee, Laura Morales, David Sommers, and Sue Skinner. Contact SomerCor today to learn more!

05/26/2026

Congratulations to the latest round of Neighborhood Opportunity Fund grantees! Eleven businesses across the South, Southwest, and West Sides are designated to receive $2.1 million in grant funding to support permanent building improvements and strengthen neighborhood commercial corridors.

Interested in applying for grant funding? Register now to attend a webinar info session on June 2nd hosted by the City of Chicago Department of Planning & Development: https://hubs.li/Q04hSSgQ0. SomerCor is proud to be the administrator of this impactful program.

05/25/2026

05/22/2026

It was a busy time in Washington, DC, for the SomerCor team at the National Association of Development Companies - NADCO Spring Summit! First - a big shout out to Eric Bacon for headlining a panel on best practices for CDCs to get complicated deals across the finish line.

Later in the week, Manny Flores, Elisabeth Williams, Amber Smith, Kimberly Blair, Hannah White, Sarah Boghossian, and Maya Ksiezyc went to Capitol Hill on behalf of SomerCor to advocate for the program.

It was great to connect with legislators and U.S. Small Business Administration leadership on how to modernize the SBA 504 loan program to make it more accessible and impactful for small and mid-size businesses - including increasing the maximum debenture size for projects to $10 million.

Thank you to Congressman Bill Foster, Congresswoman Robin Kelly, and Rep. Darin LaHood for meeting with our team! And special recognition to House Small Business Committee Ranking Member, Nydia Velazquez, for all her years of service.

05/21/2026

The SomerCor Annual Charitable Golf Outing is back! Join us on July 27, 2026, for another round at the Midlothian Country Club.

Sponsorship opportunities and foursomes are available now! Proceeds from the golf outing will be earmarked to support SomerCor’s participation in the National Association of Development Companies - NADCO VetLoan Advantage Program, a national initiative designed to support military veterans in starting or growing their businesses.

Scan the QR code or visit https://hubs.li/Q04hxrnb0 to select a sponsorship or sign-up your foursome! Thank you for your support and we look forward to seeing you on the course. ⛳