SomerCor 504, Inc.
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by SomerCor 504, Inc.
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 621112 | Offices of Physicians, Mental Health Specialists | 8 | $800K | $100K | 33.3% |
| 621610 | Home Health Care Services | 8 | $400K | $50K | 33.3% |
| 237990 | Other Heavy and Civil Engineering Construction | 8 | $640K | $80K | 33.3% |
Geographic Distribution
SBA lending activity for SomerCor 504, Inc. by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 24 | $1.8M | 100.0% |
Why Choose SomerCor 504, Inc.?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 24 SBA loans approved, totaling $1.8M in financing
- ✓Industry Expertise: Specialized focus on Offices of Physicians, Mental Health Specialists, Home Health Care Services, Other Heavy and Civil Engineering Construction
- ✓Competitive Terms: Average interest rate of 10.83% with flexible term lengths averaging 84 months
- ✓Loan Range: Loan sizes from $50K to $100K, with an average of $77K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in IL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about SomerCor 504, Inc. SBA lending
What types of businesses does SomerCor 504, Inc. typically finance?
SomerCor 504, Inc. specializes in SBA 7(a) lending to specific industries including offices of physicians, mental health specialists, home health care services, other heavy and civil engineering construction. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are SomerCor 504, Inc.'s typical SBA loan terms?
SomerCor 504, Inc.'s SBA 7(a) loans typically feature an average interest rate of 10.83% and average term length of 84 months (approximately 7 years). Loan sizes range from $50K to $100K, with an average loan size of $77K.
Do I need a business valuation for a SomerCor 504, Inc. SBA loan?
Yes, SomerCor 504, Inc. typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does SomerCor 504, Inc. compare to other SBA lenders?
SomerCor 504, Inc. has originated 24 SBA loans totaling $1.8M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does SomerCor 504, Inc. lend in?
SomerCor 504, Inc. provides SBA 7(a) financing with particularly strong presence in IL. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.