SomerCor Welcomes Michael Piazza to Enhance SBA 504 Lending Services Across the Midwest

SomerCor Expands its Reach with Exciting New Hire

SomerCor, recognized as one of the foremost non-profit lenders for the Small Business Administration (SBA) 504 program in the Midwest, has made a significant addition to its team with the recruitment of Michael Piazza as Senior Vice President and Loan Officer. Based in Chicago, Piazza's extensive experience and strong background in the financing sector are poised to bolster SomerCor's lending capabilities throughout Illinois, Wisconsin, and Indiana.

With over 15 years of expertise in commercial lending, Piazza brings a wealth of knowledge particularly in SBA financing for owner-occupied real estate, equipment purchases, and business acquisitions. His most recent role was as a Senior Commercial Relationship Manager at JPMorgan Chase, where he earned accolades as a three-time National Achiever, six-time National Top Performer, and was a consistently top producer of SBA 504 loans in the Midwest region. This impressive track record highlights his ability to navigate the complex landscape of commercial financing effectively.

Manuel Flores, President and CEO of SomerCor, emphasized Piazza's impressive qualifications and network during the announcement. He stated, "Michael's background in SBA and commercial lending, coupled with his robust network, makes him an outstanding addition to the SomerCor team." He further expressed confidence that Piazza's role will enhance SomerCor's commitment to delivering exceptional service to borrowers and lending partners alike. This strategic move aligns with SomerCor's mission to connect businesses to the SBA 504 loan program, facilitating their growth and capital investments.

In his statement, Piazza expressed enthusiasm about joining the SomerCor team, praising the organization's reputation and its commitment to fostering economic development. "SomerCor's strong reputation as a trusted SBA 504 lender and its commitment to driving economic growth were key factors in my decision. I am eager to support businesses as they scale, leveraging my expertise to expand our customer base and create meaningful economic impact in the communities we serve," he said.

The SBA 504 loan program is a critical resource for business owners seeking to buy, build, and refinance commercial real estate and fixed equipment. It allows for financing of up to 90 percent, providing competitive, fixed interest rates for terms of 10, 20, or even 25 years. This program is specifically designed to promote economic expansion, and is a powerful tool for businesses focused on growing and job creation.

For those interested in the potential benefits of the SBA 504 loan program, SomerCor encourages outreach to learn how it can support business aspirations and foster growth. SomerCor’s mission revolves around empowering businesses, creating jobs, and enhancing impactful investments within communities through the SBA 504 loan program along with various financing and grant initiatives.

Established in 1992, SomerCor has proven its standing as one of the largest non-profit SBA lenders in the Midwest, consistently ranking among the top 15 Certified Development Companies (CDCs) nationwide. To date, it has successfully deployed $1.81 billion in SBA loans to 3,873 businesses, resulting in the creation of over 47,000 jobs. For further details, interested parties can visit www.somercor.com.

Overall, the inclusion of Michael Piazza within the SomerCor team signals a significant step forward in the organization’s ability to support the growth of small businesses in the Midwest, contributing to economic prosperity across the region. As the lending landscape continues to evolve, Piazza's addition is set to enhance the organization's outreach and effectiveness in connecting businesses with the financial resources they need.