January 4, 2011
SBAC member and Executive Director of SomerCor 504 Inc. David Frank, was recently interviewed by Crain’s reporter Paul Merrion in an article entitled, “Non-profits get SBA nod to offer business loans.”
SomerCor, a Chicago-based CDC, extended $90 million in 504 loans in the year ended Sept. 30th and is on pace to top $100 million this year.
The article focused on the U.S. Small Business Administration’s plans to allow community groups and other non-profit lenders to make federally guaranteed business loans.
Frank spoke about SomerCor’s plans to participate in the program and his plans to investigate them thoroughly.
To learn more about SomerCor 504 Inc. contact David Frank at (312) 360-3300 or at firstname.lastname@example.org.