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SomerCor, Leading SBA 504 Lender, Grows its Board of Directors

SomerCor, Leading SBA 504 Lender, Grows its Board of Directors
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Third-Generation Family-Owned Business Buys Its Building with Ease Thanks to SBA 504 Loan Program

Third-Generation Family-Owned Business Buys Its Building with Ease Thanks to SBA 504 Loan Program
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SomerCor Awarded Prestigious SBA Accredited Lender Program (ALP) Status

SomerCor Awarded Prestigious SBA Accredited Lender Program (ALP) Status
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CHICAGO, May 11, 2021 /PRNewswire/ SomerCor, a Chicago-based Certified Development Company (CDC), is proud to announce it was awarded Accredited Lender Program (ALP) status by the U.S. Small Business Administration (SBA). ALP is a prestigious designation granted by the SBA to high performing, non-profit SBA 504 lending companies.
To achieve ALP status, SomerCor underwent an extensive SBA qualification process that included the evaluation of staff expertise, as well as an assessment of performance metrics related to SomerCor s loan processing, portfolio growth and servicing, and compliance with SBA lending regulations. ....

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SBA 504 Loan Offers Affordable Financing for RV Park Acquisitions

SBA 504 Loan Offers Affordable Financing for RV Park Acquisitions
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An RV Park in Bakersfield, California was recently purchased by utilizing the SBA 504 Program. The total project cost, which included the land, the business, and equipment, totaled $8.5 million. The SBA 504 loan, administered by TMC Financing, allowed Orange Grove Holdings to make the acquisition with a down payment of only 15 percent and a below-market interest rate, fixed for 25 years.
Orange Grove RV Park, Bakersfield, CA
“We needed additional leverage to make the acquisition work. Things were easier and more manageable thanks to the SBA 504 Program. The low down payment gave us more breathing room with cash flow and now we have more cash on hand that will be used to grow the business.” ....

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Access Private Capital Announces Launch of Lending Unit

Access Private Capital Announces Launch of Lending Unit
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