16 results for “SomerCor 504”
Finance N Illinois

SomerCor welcomes new VP, celebrates four key promotions

Chicago-based SomerCor, a Small Business Administration (SBA) Certified Development Company (CDC), has hired Michael Utterback as vice president, loan origination. In addition, the firm promoted Savannah Allen to economic development coordinator, Debra Morack to senior vice president and managing director of closing, David Sommers to execut…

Finance N Illinois

Former Chicago Alderman Manny Flores to helm SBA lender SomerCor

SomerCor, a Chicago-based Small Business Administration (SBA) Certified Development Company (CDC), has appointed Manuel “Manny” Flores as president and chief executive officer. Flores takes the reins at SomerCor after serving two years as a member of the nonprofit lender’s board of directors. Flores brings a unique blend of public and priva…

Finance N Illinois

SomerCor expands executive team, appoints Scott Klug SVP

SomerCor, one of Chicago’s leading Small Business Administration lenders and a top Certified Development Corporation nationally, announced the expansion of its executive team with the appointment of Scott Klug as senior vice president of business development. Klug will serve as an integral member of the senior management team and brings wit…

CRE Midwest

NelsonHill’s Mike Nelson: A love for macaroni & cheese and his family

| B. Herron

The three most important things to Mike Nelson is macaroni and cheese. Just kidding. What’s important to Nelson, a principal with NelsonHill, is God, family, and friends. In an interview with Chicago Industrial Properties, Nelson shared why he left a major company to launch his own with his brother, his passion for Chicago, as well as his f…

CRE Midwest

SBA 504 loan program: Ideally suited for manufacturing businesses

| Staff Writer

For years, small businesses looking to grow and expand their operations have found a powerful and supportive ally in the Small Business Administration (SBA). Its SBA 504 loan program is designed to meet the needs of small businesses by providing access to attractively priced financing options not available through conventional sources.

CRE Midwest

The state of small business lending

| Staff Writer

The Small Business Administration recently finished its fiscal year, and it was a record year on most all accounts. During fiscal year 2012, more than $1 billion in SBA loans were approved for small businesses in the State of Illinois alone. This represents a substantial increase over 2011.

CRE Midwest

Answers to commonly asked questions regarding SBA 504 refinancing

| Staff Writer

In the late fall of 2010, federal legislation was passed allowing the Small Business Administration to work with small businesses to refinance loans held on commercial real estate. Gabe Beukinga, senior vice president and team manager at SomerCor 504, recently answered some of the most commonly asked questions about the refinancing element …