Finance N Illinois
Michael Utterback;SomerCor

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 executive vice president and chief credit officer and Anastasia Williams to vice president, 7(a) community advantage loan program.

Finance Midwest

Money360 enters $150 million repurchase facility with JPMorgan Chase

Money360, a technology-enabled direct lender specializing in commercial real estate loans, today announced that it has entered an agreement for a $150 million master repurchase facility with JPMorgan Chase Bank, N.A. (the “facility”), which it will use to finance commercial mortgage loan originations. The facility has a two-year term and permits advancement of up to 75 percent of commercial mortgage assets.