NOW OPEN! The Chicago Department of Planning and Development is accepting applications for Chicago's Neighborhood Opportunity Fund (NOF). NOF provides reimbursement grants up to $250,000 to small business owners and landlords. Funds must be used for construction and renovation costs for small businesses and cultural establishments along eligible South, Southwest, and West Side commercial corridors. Ready to learn more and apply? As the program administrator for NOF, we are hosting a joint information session with DPD on December 5th at 11am. Register now at chicago.gov/nof. #economicdevelopment #BuiltByChi
SomerCor
金融服务
Chicago，Illinois 5,730 位关注者
A top 20 CDC, SomerCor is a non-profit certified by the SBA facilitating SBA 504 & 7(a) CA loans, and SBIF & NOF grants.
关于我们
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 Chicago’s South,
- 网站
-
https://somercor.com
SomerCor的外部链接
- 所属行业
- 金融服务
- 规模
- 11-50 人
- 总部
- Chicago，Illinois
- 类型
- 非营利机构
- 创立
- 1992
- 领域
- Real Estate & Equipment Financing、Small Business Improvement Fund (SBIF)、Community Advantage Lender、SBA 504 loan、Economic Development和Neighborhood Opportunity Fund
地点
-
主要
获取路线
209 S La Salle St
203
US，Illinois，Chicago，60604
SomerCor员工
-
MANNY FLORES
President & CEO - SomerCor / SBA 504 / SBA 7a Community Advantage / Economic Development Leader / Small Business Lender
-
Milan (Mickey) Maslic
Executive Vice President at SomerCor
-
Darin Gehrke
Senior Vice President - Market Leader Central and Southern Illinois
-
Reuben Waddy
Vice President at SomerCor
动态
-
According to the 2024 FDIC Small Business Lending Survey, lack of expertise and qualified personnel is a top reason why lenders limit their SBA program lending: https://hubs.li/Q02ZB0D20. Certified Development Companies (CDCs), like SomerCor, exist to help close the information gap for all lenders and expand access to capital for businesses through the #SBA504 loan program. At SomerCor, our expert staff serves with the dual purpose of helping business owners access the 504 loan and partnering with participating lenders to navigate the SBA lending process quickly and efficiently. Contact us today to learn how SomerCor can support your institution's SBA lending portfolio! #sbaloan #accesstocapital #buildbuyrefi
-
-
The holidays are here! Is your small business ready to make the most of the season? Check out these tips from the U.S. Small Business Administration to set you up for success: https://hubs.li/Q02ZmLmH0 #smallbusinessresource #ShopSmall ???
-
-
#IllinoisStrong - Intersect Illinois, Illinois Department of Commerce and Economic Opportunity, Illinois Finance Authority/Climate Bank, Illinois Chamber of Commerce, Illinois Manufacturers' Association, Illinois Bankers Association, and Community Bankers Association of Illinois
President & CEO - SomerCor / SBA 504 / SBA 7a Community Advantage / Economic Development Leader / Small Business Lender
Illinois ranks 2nd in the nation for corporate expansions and relocations for the second straight year. (Source: Site Selection Magazine, March 2024) Why companies choose Illinois: - World leading talent from major research universities. - Availability of desirable real estate sites and buildings. - Lower real estate and business operating costs. - Abundant and affordable supplies of water, power, and other essential utility infrastructure. - Strategic logistical location in the center of North America with near access to one of the largest industrial markets, Chicago . -?Access to six Class I railroads and multiple international airports. -?Construction costs ranking among the lowest in North America. -?Proactive and engaged economic development leadership teams at every level of government.
-
SomerCor转发了
Next week: #ShopSmall ??? on Saturday, November 30 to support the small businesses in your community! Learn more about how you can participate: https://lnkd.in/egEBvkr
-
-
Happy work anniversary to MANNY FLORES and Amber Smith! As SomerCor's President & CEO, Manny is focused on mission-oriented growth. We've hit numerous key milestones during his tenure and an impactful 2025 is on the horizon. Also, congratulations to Amber Smith, our Vice President of Marketing & Communications. She is responsible for streamlining internal and external operations and communications through technology and innovation. Her work is critical to increasing SomerCor's capacity to serve small businesses. Thanks for all that you do! #somercorstrong #dreamitdoit
-
-
We’re proud to share a transformative milestone in our mission to support small businesses, lending partners, and economic development clients: SomerCor is now a 501(c)(3) Certified Development Company! As a charitable organization, this new designation opens doors to additional resources and philanthropic opportunities, allowing us to further our mission of empowering entrepreneurs and strengthening communities. It’s a game-changer for how we can provide enhanced services, expanded programs, and innovative solutions to better support small businesses and drive meaningful economic development. This step reinforces our commitment as a premier Certified Development Company to delivering impactful support to those we serve. We are excited to leverage this new opportunity to expand our reach and deepen our impact. Stay tuned for updates as we continue building a brighter future for small businesses and communities. Let’s make great things happen together! #DreamItDoIt #NonProfit #EconomicDevelopment #SomerCorStrong #SmallBusinessSupport #CommunityImpact #SBA504 #AccesstoCapital
-
-
SomerCor转发了
Over 1,000 hours of free business education resources are available on our YouTube page, including webinar topics like: - Business Licensing - Business Planning - Business Operations - Finance - Legal - Marketing - Technology - & more! Start learning now: YouTube.com/ChicagoBACP
-
The #SBA504 loan program is a great option for small and mid-size businesses to buy, build, and refinance their own facility and heavy equipment. The SBA 504 loan offers the opportunity to build equity while creating a state of the art space personalized for optimum efficiency, safety, and flexibility to grow. Contact SomerCor today to learn more! #accesstocapital #smallbusinessfinancing #buildequity #ownyourspace #autodealership
-
-
As the administrator for Chicago's Neighborhood Opportunity Fund (NOF), we're excited to announce the application period for this impactful grant program is open! Small business owners and landlords can apply to the Chicago Department of Planning and Development by February 14, 2025, at chicago.gov/nof. Selected applicants can receive reimbursement grants up to $250,000 to fund construction and renovation projects for small businesses and cultural establishments along South, Southwest, and West Side commercial corridors. #economicdevelopment #BuiltByChi
-