SomerCor 504, Inc.: SBA Lending Record
What SBA's own loan files show about SomerCor 504, Inc. as an SBA lender, and how a lender's record bears on a feasibility study.
SomerCor 504, Inc.: the SBA record
1,130 approved loans sit against SomerCor 504, Inc. in FY2017 to FY2026 files, $1.02 billion gross. SBA records SomerCor 504, Inc. in Illinois. Every one of the 1,130 loans is a holding: SomerCor 504, Inc. holds or last held each, per SBA. The record shows 18 SBA 7(a) loans and 1,112 SBA 504 loans. On 504 loans, SomerCor 504, Inc. is the development company. The 504 code and the 7(a) code both point to SomerCor 504, Inc., so the figures here are joint. SomerCor 504, Inc.'s FY2026 is a complete fiscal year. $1.02 billion gross across 1,130 loans is the scale of SomerCor 504, Inc.'s record. SBA, not SomerCor 504, Inc., stands behind the 1,130 loans; the figures show holdings, not policy.
719 loans among SomerCor 504, Inc.'s 1,130 carry no named class. SomerCor 504, Inc. lists these classes: Full-service restaurant at 81; Child care center (57); Hotel and motel, 47; Limited-service restaurant (45); Automotive mechanical repair (car and truck), 27; Car wash (19); Fitness center (19); Self storage (13); Beverage manufacturing (breweries, wineries, distilleries) at 13; Gas station and truck stop at 12; Rehabilitation and therapy clinic (9); Dental office (8); Beauty salon at 8; Coffee shop and snack bar, 8. 81 Full-service restaurant loans sit beside 719 unclassed ones in SomerCor 504, Inc.'s 1,130. SomerCor 504, Inc.'s class lines cover part of 1,130. 57 Child care center loans trail 81 Full-service restaurant at SomerCor 504, Inc.
SomerCor 504, Inc.: where the loans sit
By state at SomerCor 504, Inc.: Illinois, 1,099; Wisconsin at 14; Indiana at 6. Illinois is also where SBA records SomerCor 504, Inc., so the book starts at home. 1,099 of SomerCor 504, Inc.'s 1,130 loans sit in Illinois. SomerCor 504, Inc.'s table maps 1,130 loans, no boundary for sites beyond Illinois.
SomerCor 504, Inc.: the floors
The floor is 16.4%: cancellations after approval, FY2017 to FY2024, at SomerCor 504, Inc. Ceiling 21.0%: undisbursed loans count as cancelled. Floor 0.00%: charged off to date among 425 loans disbursed in FY2017 to FY2021. 0.00% is the five-year figure. 0.00% is a floor with no charge-off on record across 425 loans. 16.4% cancelled means approval is not funding. 0.00% of 425 charged off; cash flow must hold. For SomerCor 504, Inc., test one is site demand. For SomerCor 504, Inc., test two is full project cost. For SomerCor 504, Inc., test three is debt service coverage. At SomerCor 504, Inc., test four is the appraisal.
SomerCor 504, Inc.'s book gives a lender $1.02 billion gross across 1,130 loans. SomerCor 504, Inc.'s book gives a borrower 1,130 holdings, not terms. The 1,130 loans cannot show how SomerCor 504, Inc. would treat a request. 81 Full-service restaurant loans head the list. SomerCor 504, Inc.'s file ends at holdings. Any request to SomerCor 504, Inc. rests on its own study. The record stops at 1,130 loans held by SomerCor 504, Inc.
SBA loans held by SomerCor 504, Inc.
SBA guarantees these loans; the lender does not. The lender's name and every figure come from the U.S. Small Business Administration's public 7(a) and 504 FOIA file (data.sba.gov).
7(a) lender is the bank or lender the loan is currently assigned to (or last held it), as SBA records it; 504 lender is the Certified Development Company (CDC). 504 third-party (first-lien) lenders are free text with no identifier and are not credited.
One organisation under two SBA identifiers: a CDC (504) that also lends under 7(a), linked by equal normalised name and equal lender state (manifests/ld2/lender-links.csv).
| Loans approved, FY2017 to FY2026 | 1,130 |
|---|---|
| Gross dollars approved | $1.02 billion |
| SBA 7(a) loans | 18 |
| SBA 504 loans | 1,112 |
Cancellation and charge-off
| Cancelled after approval, FY2017 to FY2024 approvals (a floor) | 16.4% |
|---|---|
| The same, counting loans still undisbursed as cancelled (a ceiling) | 21.0% |
| Charged off to date, FY2017 to FY2021 disbursed loans (a floor) | 0.00% |
| Charged off within five years of approval | 0.00% |
| Loans in that cohort | 425 |
Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.
Loans by asset class
| Asset class | Loans |
|---|---|
| Not in any of the 39 asset classes | 719 |
| Full-service restaurant | 81 |
| Child care center | 57 |
| Hotel and motel | 47 |
| Limited-service restaurant | 45 |
| Automotive mechanical repair (car and truck) | 27 |
| Car wash | 19 |
| Fitness center | 19 |
| Self storage | 13 |
| Beverage manufacturing (breweries, wineries, distilleries) | 13 |
| Gas station and truck stop | 12 |
| Rehabilitation and therapy clinic | 9 |
| Dental office | 8 |
| Beauty salon | 8 |
| Coffee shop and snack bar | 8 |
| Caterers (includes banquet halls with catering staff) | 7 |
| Medical office (physicians) | 7 |
| School (elementary and secondary, including charter) | 6 |
| Grocery store | 6 |
| Marina | 5 |
Classes with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.
Loans by project state
States with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.
A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.
Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; Loan Analytics lender cell LP-cdc-0188194.
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