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SomerCor 504, Inc.

Chicago, IL 60604

SBA Certified Development Company
2,003
Loans Approved
$1.7B
Total Volume
$824K
Avg Loan Size
10
States Served

States Served

ArizonaGeorgiaIllinoisIndianaKentuckyMassachusettsMissouriNevadaTexasWisconsin

Top Industries Financed

  • Full-Service Restaurants
  • Child Day Care Services
  • Limited-Service Restaurants
  • Hotels (except Casino Hotels) and Motels
  • General Automotive Repair

Quick Summary

SomerCor 504, Inc. is an SBA-certified Certified Development Company (CDC) headquartered in Chicago, Illinois. Since 2010, they have approved 2,003 SBA 504 loans totaling $1.7B, with an average loan size of $824K. They serve businesses across 10 states.

About SomerCor 504, Inc.

SomerCor 504, Inc. is an SBA-certified Certified Development Company (CDC) headquartered in Chicago, Illinois. Since 2010, they have approved 2,003 SBA 504 loans totaling $1.7B, with an average loan size of $824K. They serve businesses across 10 states.

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Frequently Asked Questions

What does SomerCor 504, Inc. do?

SomerCor 504, Inc. is an SBA-certified Certified Development Company (CDC) based in Chicago, Illinois. CDCs partner with banks to deliver SBA 504 loans — a long-term, fixed-rate financing program for commercial real estate and equipment. SomerCor 504, Inc. handles the SBA-backed 40% portion of the financing structure.

How many SBA 504 loans has SomerCor 504, Inc. approved?

According to SBA FOIA public records, SomerCor 504, Inc. has approved 2,003 SBA 504 loans totaling $1.7B since 2010. Their average loan size is $824K.

What states does SomerCor 504, Inc. serve?

SomerCor 504, Inc. serves businesses in 10 states: Arizona, Georgia, Illinois, Indiana, Kentucky, Massachusetts, Missouri, Nevada, Texas, Wisconsin.

How do I apply for an SBA 504 loan through SomerCor 504, Inc.?

To apply for an SBA 504 loan through SomerCor 504, Inc., contact them using the form on this page. You'll also need to work with a participating bank for the 50% bank portion. Before applying, prepare 3 years of business tax returns, personal financial statements, a business plan, and details about the property or equipment you're financing. Most 504 loans require 2+ years in business and a FICO SBSS score of 155+.

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