SOMERCOR 504 INC
Programs
Small Business Financing Assistance
PROVIDE FINANCING ASSISTANCE FOR SMALL BUSINESSES, ADMINISTER CITY OF CHICAGO GRANT PROGRAMS AND OTHER ECONOMIC DEVELOPMENT ACTIVITIES.GeographiesNot indicatedDatesOct 1, 2022 – Sep 30, 2023Source990No causes providedNo populations provided–$4.1MSBA Community Advantage Program
THE ORGANIZATION WAS GRANTED AUTHORITY TO PARTICIPATE IN THE SBA COMMUNITY ADVANTAGE PROGRAM. THE PROGRAM ALLOWS CERTIFIED DEVELOPMENT COMPANIES ("CDC'S") TO FUND COMMUNITY ADVANTAGE LOANS BETWEEN $50,000 AND $350,000. AT LEAST 60% OF THE LOANS DISTRIBUTED ARE REQUIRED TO BE IN UNDERSERVED MARKETS.GeographiesNot indicatedDatesOct 1, 2022 – Sep 30, 2023Source990No causes providedNo populations provided–$624.9K
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