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

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Sep 21, 2021, 11:00 ET

CHICAGO, Sept. 21, 2021 /PRNewswire/ -- SomerCor, a Small Business Administration (SBA) Certified Development Company (CDC), announces the appointment of five new members to its Board of Directors. The new board members span across the financial services industry, bringing new sector perspectives and expertise to the organization. These board members were recruited to help SomerCor expand their small business lending footprint, strengthen its commitment to diversity and inclusion, and help enhance economic development in under-resourced communities throughout Illinois.

"SomerCor has been serving small businesses and SBA 504 lending partners for more than 29 years. We know how critical it is for entrepreneurs to have access to capital to grow and create more jobs in our communities, especially in under-resourced urban neighborhoods and rural areas of Illinois," said Manuel Flores, President and CEO of SomerCor. "These Board appointments reflect our readiness to increase our lending and community development impact as a mission-based SBA lender."

James Bruno is Vice President, Area Manager for Business Banking at JPMorgan Chase. His team provides financial and banking services to businesses with revenues of $1-20 million. He has extensive commercial lending experience including SBA 7(a) and 504 financing.

Erica King is the President at Greenwood Archer Capital^™ (GAC), a non-profit Community Development Financial Institution (CDFI). GAC provides technical assistance and loans up to $200,000 to minority owned businesses in Chicago and greater Cook County, Illinois.

Michael Martino is the head of Chicago Business Banking and Emerging Middle Market Banking at Fifth Third Bank. With nearly 20 years in the industry, he oversees Fifth Third's commercial business banking activities, including SBA lending throughout the Chicago region.

Julie Winterbauer is Vice President, Bank and Partner Relations at the Illinois Bankers Association (IBA). Based in Springfield, IL, she has been with the IBA for almost 20 years, leading member recruitment, partner relations, and networking events.

Simon Yohanan is Senior Vice President, Managing Director of Middle Market Banking at Commercial Banking at First Bank Chicago. He has over 20 years of community banking experience delivering financial solutions to middle market business and non-profits.

"I am proud to welcome these new members to the SomerCor Board and look forward to serving with them," said Jon Winick, SomerCor Board Chair. "Their professional experience and expertise enable us to provide SomerCor with more diverse, strategic guidance and strong, corporate governance."

The new members join Jon Winick (Clark Street Capital) and Manuel Flores (SomerCor) on the Board, whose members also include; Dean Avdalas (Byline Bank), Brian Burke (First Midwest Bank), Jeffrey Bronswick (Bronswick Benjamin P.C.), Lynn Dubajic (DLK, LLC), Thomas Huffman (Village Bank & Trust – A Wintrust Community Bank), Santiago Martinez (Gold Coast Bank), Michael Plumb (Lee & Associates of Illinois, LLC), Margy Sweeney (Akrete), and William W. Towns (Gorman & Company).

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 through access to capital. For more information visit www.somercor.com.

Contact:
Kim Brisky,
[email protected]

SOURCE SomerCor