SomerCor

Listed

Direct business lender for equipment financing and commercial real estate loansChicago, IllinoisBased in Illinois; service area not yet provided

BBLL 000436Listed Oct 2026From public recordsLast checked Oct 31, 2026

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About

SomerCor provides SBA 504 finance for owner-occupied property and heavy equipment. It works with a third-party lender, with the borrower typically contributing at least ten percent of project cost.

Direct business lender. Directly funds business financing; products and terms depend on the lender.

This entry starts from public records. The lender fills in the rest when it claims the entry, which is free.

What they lend

Equipment financing Commercial real estate loans SBA 504 loans

General small business

From the lender's own site and public records.

A second look at SomerCor

SomerCor provides SBA 504 finance for owner-occupied property and heavy equipment. It works with a third-party lender, with the borrower typically contributing at least ten percent of project cost.

Nonprofit SBA Certified Development Company and 504 loan originator/servicer.

Published by Levr, not by SomerCor. This is a source-based profile and editorial assessment, not customer reviews or a promise of approval. Sources checked October 31, 2026.

Visit the official provider website →

Programs and published requirements

Compare the specific program and legal funding entity on your offer. Advertised limits and minimums do not guarantee eligibility or your price.

SBA 504 loans

Typical structure: Third-party lender 50%, CDC/SBA-backed debenture up to 40%, borrower at least 10%.
Term: The CDC portion has fixed-rate terms of ten, twenty or twenty-five years.
Uses: Property purchase, construction, renovation, long-life fixed equipment and eligible debt refinancing.
Market: Illinois, Kenosha/Rock counties in Wisconsin and Jasper/Lake/Newton/Porter counties in Indiana.

Provider sources: Official lending and lender information · Official lending and lender information

When it may fit

Our assessment of the published programs

Regional businesses acquiring fixed assets with sufficient equity and qualifying occupancy.

What to weigh carefully

Working capital, inventory and goodwill are excluded from this 504 product.
New businesses and special-purpose properties can require higher equity; bank-loan terms differ from the fixed CDC portion.

Questions before you accept an offer

What down payment applies to my project and business age?
How will interim funding and the bank portion be structured?

Ask for written terms. Compare net cash received, total repayment, fees, payment timing and early-payoff costs for the same financing need.

Prepare your comparison

Use the same questions and figures for each offer you receive.

Alternatives to research

These are options for a related financing need, not a ranking or a claim of equivalent eligibility or pricing.

Growth Corp

Growth Corp provides another 504 comparison in overlapping Illinois/Indiana markets.

PNC Bank

PNC offers a bank/SBA comparison in eligible regional markets.

The lender

Type: Direct business lender
Legal name: Not yet provided Add it
Founded: 1992
Charter: Not yet provided Add it
Headquarters: Chicago, Illinois
Service area: Based in Illinois; service area not yet provided
Meets in person: Not yet provided Add it
Languages: Not yet provided Add it
Program approvals: SBA 504
Also lends to consumers: Not yet provided Add it
Website: somercor.com
LinkedIn: Not yet provided Add it

Loan officers at this lender

No loan officers listed yet. Work here? Claim your profile.

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Request contact

Tell us what your business needs. Our team reviews your request before arranging the next step.

Charter and approvals

SBA 504 lender

Location

Based in Illinois; service area not yet provided.

Sources: SomerCor overview (Oct 31, 2026), Official firm website (Oct 31, 2026), Official firm website (Oct 31, 2026), Official brokerage logo (Oct 31, 2026).

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