#United States #Chicago #Small Business #SomerCor #Hannah White

SomerCor Appoints Hannah White as Managing Director

In a significant move to bolster its strategic efforts, SomerCor, a nonprofit organization certified by the U.S. Small Business Administration (SBA), has officially announced the appointment of Hannah White as its new Managing Director of Development and Strategic Partnerships. This comes at a pivotal time for SomerCor as it continues its vital economic development initiatives with a focus on enhancing support for small businesses.

A Focus on Philanthropic Initiatives

Hannah White brings a wealth of experience to this role, having previously served as the Chief Impact Officer at Main Street America, where she was instrumental in driving community development initiatives on a national scale. Her extensive background in fundraising and partnership-building uniquely positions her to lead SomerCor's efforts in developing and expanding its philanthropic programs. Under her leadership, SomerCor aims to increase access to both capital and resources for small businesses in the region, addressing one of the primary challenges these businesses face—access to funding.

During her time at Main Street America, White spearheaded numerous initiatives that resonated with community members and business owners alike. This experience will allow her to effectively leverage both philanthropic and public funding for SomerCor’s ongoing projects, including the SBA 504 Down Payment Assistance Program, in collaboration with the Cook County Small Business Source and the VetLoan Advantage Program designed for veteran entrepreneurs.

Strategic Vision for Growth

Manny Flores, President and CEO of SomerCor, expressed enthusiasm about White joining the team. He highlighted her strong track record in fostering partnerships and securing the necessary resources that drive significant economic impact. “Her leadership will be crucial as we strive to cultivate strong relationships across the philanthropic, corporate, and public sectors, ultimately expanding the support we offer to businesses and communities,” he stated.

White's appointment is aligned with SomerCor’s broader strategic plan and its transition to a charitable organization under the 501(c)(3) tax-exempt status. This transition is crucial as it allows SomerCor to diversify its program funding and enhance its impact on economic growth and stability.

Commitment to Economic Empowerment

“I’m thrilled to join SomerCor, an organization renowned for its local impact and ambitious goals,” White commented on her new role. She emphasized her firsthand understanding of the challenges business owners encounter, particularly regarding access to capital. White is passionate about collaborating with partners and funders to expand available resources that create jobs, strengthen communities, and support entrepreneurial growth.

Under her guidance, SomerCor plans to bolster its development strategy, ensuring that it not only meets existing demands but also anticipates and addresses future needs within the small business community.

About SomerCor

SomerCor stands as a beacon for small businesses, providing long-term, fixed-rate financing through the SBA 504 program to aid in business expansion, real estate acquisition, and equipment investments. Along with financial support, SomerCor administers various economic development grant programs in partnership with local governments and collaborates with lenders, business owners, and other stakeholders. This collaborative approach aims to catalyze job creation and investment throughout Illinois, Northwest Indiana, and Southeast Wisconsin. To learn more about SomerCor or to explore partnership opportunities, visit www.somercor.com.