SomerCor Awarded CDC of the Year for SBA 504 Lending Excellence

CHICAGO, Feb. 10, 2026 /PRNewswire/ -- SomerCor, a non-profit, Certified Development Company (CDC) licensed by the Small Business Administration (SBA), proudly announces its selection as the CDC of the Year by the Coleman Report, a leading national publication covering the SBA lending industry.

The award recognizes exceptional performance, operational excellence, and sustained impact in SBA lending. SomerCor distinguished itself through strong SBA 504 loan production, consistent performance across economic cycles, and its commitment to advancing economic development in the communities it serves.

SomerCor reached a major milestone in 2025, marking its fifth consecutive year originating over $100 million in SBA 504 loans. The organization approved 121 new loans and funded 81 projects - a combined investment exceeding $245 million in SBA financing. This capital, along with grant program investment, fueled 261 businesses across 231 communities, sustaining 1,919 jobs and financing nearly 17 million square feet of commercial and industrial space.

Beyond SBA lending, SomerCor plays a central role in regional economic development through long-standing public and private-sector partnerships. In 2025, the organization celebrated its 25th anniversary as the City of Chicago's Small Business Improvement Fund (SBIF) grant administrator, through which SomerCor deployed more than $153 million in public funding to over 2,200 businesses citywide.

SomerCor is also a recipient of the Cook County Community Financial Institution Capacity Building Grant, an initiative to expand access to capital for small businesses across Cook County through nonprofit lending partners. This investment enabled the creation of SomerCor's SBA 504 Down Payment Assistance Program, designed to help emerging businesses and first-time owner-occupied real estate buyers overcome upfront capital barriers. Additionally, SomerCor launched its VetLoan Advantage initiative, expanding access to financing support for veteran-owned businesses.

"We are honored to be recognized as CDC of the Year by the Coleman Report," said Manuel Flores, President and CEO of SomerCor. "This distinction belongs to our team and to the many lenders, economic development organizations, and public-sector partners who work alongside us to help businesses grow, invest, and create jobs to make our communities stronger and more vibrant."

Founded more than 30 years ago, SomerCor is an SBA Accredited Lenders Program (ALP) CDC, a designation awarded to high-performing CDCs nationwide. In 2025, SomerCor also received national recognition as an Inc. Magazine Power Partner, and earned the Great Company Culture designation from Culture ID, underscoring its commitment to partnership, service excellence, and a values-driven company culture.

To learn more or to connect with a SomerCor loan officer, visit www.somercor.com

https://somercor.com/starthere/

About SomerCor
SomerCor's mission is to grow businesses, create jobs, and increase impactful investment in every community through the SBA 504 loan program and other financing and grant initiatives. SomerCor serves the entire state of Illinois, Kenosha and Rock counties in Wisconsin, and Jasper, Lake, Newton, and Porter counties in Indiana. https://somercor.com/

Contact: Kim Brisky // [email protected]

SOURCE SomerCor