SomerCor Hires Springfield Banking Leader Darin Gehrke to Head Its SBA 504 Lending in Central and Southern Illinois

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Oct 12, 2022, 10:00 ET

CHICAGO, Oct. 12, 2022 /PRNewswire/ -- SomerCor, a non-profit, Certified Development Company (CDC) licensed by the Small Business Administration (SBA) under the SBA 504 loan program, is proud to announce the hire of veteran SBA banker, Darin Gehrke, as Senior Vice President and Market Lead for Central and Southern Illinois. Based in Springfield, Gehrke will lead strategy planning and business development to expand SomerCor's SBA 504 lending and other economic development services in Central and Southern Illinois.

Gehrke comes to SomerCor with more than 15 years of SBA 504 and commercial lending experience. Most recently, Gehrke served as Community Bank President at Town and Country Bank in Jacksonville, Illinois, where he oversaw a diverse banking portfolio that included agriculture, commercial, and SBA loans. Previously, Gehrke spent more than ten years at SomerCor as a Vice President, SBA 504 Loan Officer.

In addition to his commercial lending work, Gehrke served as Mayor of the Village of Woodson from 2006 to 2013, where he focused his efforts on growing economic development for the Village. Presently, Gehrke is the Treasurer of the Jacksonville Regional Economic Development Corporation, an organization that supports investment and job creation in Morgan and Scott counties in Illinois.

"We are thrilled to welcome Darin back to the SomerCor team," said Manuel Flores, SomerCor President and CEO. "He is highly respected for his SBA lending track record and economic development work. SomerCor has served clients throughout Illinois for 30 years and it is important to have team members, like Darin, who have strong local ties to our communities."

"Joining SomerCor gives me the unique opportunity to combine my expertise in commercial lending and economic development," said Gehrke. "SomerCor is doing exceptional work with its SBA 504 lending and small business grant services. I look forward to connecting SomerCor with new lending partners and small businesses to grow local economies in Central and Southern Illinois."

The SBA 504 loan program is financing that helps entrepreneurs buy, build, or refinance commercial real estate and fixed equipment for their businesses with fixed, below market interest rates for 10, 20, or 25 years. SomerCor partners with banks and other lenders that use the SBA 504 program in their small business and commercial lending portfolios.

Most for-profit businesses in the U.S. are eligible for the SBA 504 Program. Contact SomerCor to speak to a loan officer and see if an SBA 504 loan is right for your project or small business client.

About SomerCor

The SomerCor 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 and Kenosha and Rock counties in Wisconsin. For more information visit www.somercor.com

Contact: Kim Brisky // (312) 505-7032 // [email protected]

SOURCE SomerCor