Lenders › SomerCor 504, Inc.
504 CDCChicago, Illinoiscertified development company14th of 182 by approvals
SomerCor 504, Inc.
SBA 504 loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SomerCor 504, Inc., based in Chicago, Illinois, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 650 of its 504 loans worth $656M in FY2021 to FY2025, which places it 14th of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 121 approvals totalling $162M, up 8% on FY2024 (112). FY2026 to 30 Jun 2026 adds 60 more.
The median approval was $587K, against $657K for the 504 program as a whole; 7.1% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 8 states and territories and 53 counties, led by Illinois (96.6%), Wisconsin (1.8%) and Indiana (0.6%). The largest industry group was accommodation and food services at 20.3% of approvals, and 9.1% of approvals were to franchise businesses.
Of 1,244 disbursed loans approved in FY2010 to FY2021, SBA records 17 as charged off (1.4%), 652 as paid in full and 575 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 60 | $54.4M | $506K | $907K | 635 |
| FY2025 | 121 | $162M | $739K | $1.3M | 1,299 |
| FY2024 | 112 | $119M | $566K | $1.1M | 1,143 |
| FY2023 | 100 | $104M | $509K | $1.0M | 1,032 |
| FY2022 | 185 | $166M | $598K | $899K | 3,374 |
| FY2021 | 132 | $104M | $471K | $788K | 862 |
| FY2020 | 105 | $80.4M | $430K | $765K | 617 |
| FY2019 | 71 | $59.6M | $506K | $840K | 523 |
| FY2018 | 85 | $51.5M | $412K | $606K | 445 |
| FY2017 | 106 | $85.7M | $460K | $808K | 682 |
| FY2016 | 101 | $72.4M | $445K | $717K | 1,284 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 468 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Illinois | 504 program |
|---|---|---|---|
| Approvals in these years | 1,469 | 4,304 | 85,591 |
| Cancelled or never disbursed | 225 | 626 | 12,514 |
| Disbursed loans | 1,244 | 3,678 | 73,077 |
| Paid in full | 652 | 1,684 | 35,491 |
| Charged off | 17 | 61 | 905 |
| Still outstanding (status exempt from disclosure) | 575 | 1,933 | 36,681 |
| Charged off, share of disbursed loans | 1.4% | 1.7% | 1.2% |
| Dollars charged off, share of disbursed dollars | 0.5% | 1.4% | 0.9% |
| Dollars charged off | $4.1M | $35.4M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 106 | 11 | 0 | 0.0% | 0.1% |
| FY2020 | 92 | 13 | 0 | 0.0% | 0.1% |
| FY2019 | 59 | 15 | 0 | 0.0% | 0.3% |
| FY2018 | 69 | 19 | 0 | 0.0% | 0.4% |
| FY2017 | 88 | 37 | 0 | 0.0% | 0.8% |
| FY2016 | 92 | 44 | 1 | 1.1% | 1.0% |
| FY2015 | 69 | 33 | 0 | 0.0% | 1.2% |
| FY2014 | 98 | 63 | 0 | 0.0% | 1.3% |
| FY2013 | 120 | 80 | 1 | 0.8% | 1.4% |
| FY2012 | 184 | 140 | 4 | 2.2% | 2.0% |
| FY2011 | 140 | 102 | 5 | 3.6% | 2.1% |
| FY2010 | 127 | 95 | 6 | 4.7% | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $587K | $657K |
| Average approval | $1.0M | $1.0M |
| Approvals of $150,000 or less | 7.1% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 17.4% | 14.4% |
| Approvals to franchise businesses | 9.1% | 9.0% |
| Jobs supported per approval, as reported | 11.9 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 1.4% | 1.2% |
States served
| # | State of the business (8 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Illinois | 628 | $629M | 96.6% | |
| 2 | Wisconsin | 12 | $14.5M | 1.8% | |
| 3 | Indiana | 4 | $4.0M | 0.6% | |
| 4 | Missouri | 2 | — | 0.3% | |
| 5 | Massachusetts | 1 | — | 0.2% | |
| 6 | Arizona | 1 | — | 0.2% | |
| 7 | Kentucky | 1 | — | 0.2% | |
| 8 | Texas | 1 | — | 0.2% |
In Illinois the lender accounts for 35.6% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (53 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Cook County, IL | 297 | $256M | 45.7% | |
| 2 | DuPage County, IL | 79 | $98.6M | 12.2% | |
| 3 | Kane County, IL | 58 | $54.0M | 8.9% | |
| 4 | Lake County, IL | 50 | $55.7M | 7.7% | |
| 5 | Will County, IL | 36 | $60.6M | 5.5% | |
| 6 | McHenry County, IL | 26 | $21.1M | 4.0% | |
| 7 | Kendall County, IL | 11 | $9.6M | 1.7% | |
| 8 | Sangamon County, IL | 7 | $5.0M | 1.1% | |
| 9 | McLean County, IL | 6 | $4.2M | 0.9% | |
| 10 | Madison County, IL | 5 | $5.4M | 0.8% | |
| 11 | LaSalle County, IL | 5 | $1.8M | 0.8% | |
| 12 | DeKalb County, IL | 4 | $13.7M | 0.6% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 132 | 20.3% | |
| 2 | Manufacturing | 97 | 14.9% | |
| 3 | Health Care and Social Assistance | 70 | 10.8% | |
| 4 | Other Services (except Public Administration) | 62 | 9.5% | |
| 5 | Retail Trade | 57 | 8.8% | |
| 6 | Professional, Scientific, and Technical Services | 34 | 5.2% | |
| 7 | Wholesale Trade | 33 | 5.1% | |
| 8 | Construction | 32 | 4.9% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 83 | 12.8% | |
| 2 | Child Day Care ServicesNAICS 6244 | 38 | 5.8% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 30 | 4.6% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 30 | 4.6% | |
| 5 | Traveler AccommodationNAICS 7211 | 27 | 4.2% | |
| 6 | General Freight TruckingNAICS 4841 | 26 | 4.0% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 19 | 2.9% | |
| 8 | Drinking Places (Alcoholic Beverages)NAICS 7224 | 14 | 2.2% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 13 | 2.0% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 13 | 2.0% |
Approval sizes
- $50,001 to $150,0007.1%46
- $150,001 to $350,00023.2%151
- $350,001 to $1 million36.3%236
- $1 million to $2 million19.7%128
- Over $2 million13.7%89
Loan terms
- Over 5 to 10 years1.8%12
- Over 10 to 20 years4.0%26
- Over 20 years94.2%612
Age of the businesses
- Existing, more than 2 years old80.9%526
- New business, 2 years or less1.1%7
- Startup, loan funds will open the business16.3%106
- Change of ownership1.7%11
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 347 | 53.4% | |
| 2 | 504 Basic | 205 | 31.5% | |
| 3 | 504 Refinancing Program | 75 | 11.5% | |
| 4 | ALP Express | 23 | 3.5% |
Franchise share
59 of 650 approvals in FY2021–FY2025 (9.1%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Hampton Inn by Hilton | 3 | 0.5% | |
| 2 | Kiddie Academy | 3 | 0.5% | |
| 3 | Comfort Inn | 3 | 0.5% | |
| 4 | Dunkin' Donut | 3 | 0.5% | |
| 5 | Tommy's Express Car Wash | 2 | 0.3% | |
| 6 | Primrose Schools | 2 | 0.3% | |
| 7 | Sleep Inn | 2 | 0.3% | |
| 8 | Ford Motor Company Dealer Sales and Service Agreement | 2 | 0.3% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | Byline Bank | 47 | 7.2% | |
| 2 | Wintrust Bank National Association | 33 | 5.1% | |
| 3 | Old National Bank | 22 | 3.4% | |
| 4 | Barrington Bank & Trust Company, National Association | 21 | 3.2% | |
| 5 | Providence Bank and Trust | 20 | 3.1% | |
| 6 | Lakeside Bank | 18 | 2.8% | |
| 7 | Pan American Bank & Trust | 17 | 2.6% | |
| 8 | Live Oak Banking Company | 15 | 2.3% | |
| 9 | Signature Bank | 14 | 2.2% | |
| 10 | The Huntington National Bank | 13 | 2.0% |
Questions and answers
How many SBA loans does SomerCor 504, Inc. make?
SBA approved 121 504 loans through SomerCor 504, Inc. in FY2025, worth $162M, and 650 over FY2021 to FY2025. That ranks 14th of 182 active CDCs by number of approvals.
How large are SomerCor 504, Inc.'s typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $587K and the average $1.0M. The program-wide median was $657K.
What is SomerCor 504, Inc.'s charge-off rate?
Of 1,244 disbursed loans approved in FY2010 to FY2021, SBA records 17 as charged off (1.4%), 652 as paid in full and 575 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does SomerCor 504, Inc. lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (83); child day care services (38); other amusement and recreation industries (30); automotive repair and maintenance (30).
Where does SomerCor 504, Inc. make SBA loans?
In 8 states and territories. Illinois 628, Wisconsin 12, Indiana 4, Missouri 2, Massachusetts 1. In Illinois it accounts for 35.6% of all 504 approvals.
Is SomerCor 504, Inc.'s SBA lending rising?
Approvals in the three latest complete fiscal years total 333, against 422 in the three before: falling (-21%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error