SomerCor CEO, Manuel Flores, Tapped to Co-lead Cook County Economic Development Advisory Subcommittee for Small Businesses

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Nov 02, 2021, 11:05 ET

CHICAGO, Nov. 2, 2021 /PRNewswire/ -- SomerCor, a Small Business Administration (SBA) Certified Development Company (CDC), is proud to announce that President & CEO, Manuel Flores, was appointed Co-Chair of the newly created Small Business Subcommittee of the Cook County Economic Development Advisory Committee (EDAC).

EDAC is an advisory body comprised of business leaders and economic development professionals appointed by Cook County Board President Toni Preckwinkle. Members advise the County on commercial property tax incentives, policies, and strategies to advance economic growth. The past year, Cook County worked diligently to create policies and a platform to assist small businesses. The County developed a comprehensive network of service providers, including SomerCor, and a resource center designed to strengthen the small business ecosystem throughout the region. The Small Business Subcommittee will be tasked with providing policy and strategic guidance to support the ongoing work and growth of the Cook County Small Business Agenda and related initiatives.

"As we work to rebound from the pandemic and strengthen our local economy, doing it through an equity lens to make sure no community is left behind, our County government can help by developing policies and resources to enhance our small business base," said Flores. "Cook County is one of the largest in the nation, with an annual GDP of more than $425MM. Small businesses play a critical role in the County's economy - they create jobs, catalyze new investment, grow tax revenues, and revitalize communities. I am excited to be part of this new and innovative initiative."

Flores will be joined by his Co-Chair, Thurman (Tony) Smith, SVP of Community Development Banking at PNC Bank. The Subcommittee will work to develop a permanent framework within Cook County to support continued growth of small businesses and to increase local investment, especially in minority and under-resourced communities of the County.

About SomerCor
SomerCor is a non-profit lender, certified by the Small Business Administration, that specializes in originating and servicing SBA 504 loans. Since its founding in 1992, SomerCor has funded over 2300 loans with a total volume of $1.44 billion. SomerCor also administers the Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF) grants for the city of Chicago.

Based in Chicago, the SomerCor mission is to grow businesses, create jobs, and increase impactful investment in every community through access to capital. For more information visit www.somercor.com.

Contact:
Kim Brisky
[email protected]

SOURCE SomerCor