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Finding Funding News Briefs

SomerCor and NAWBO Chicago Collaborate to Empower Women Entrepreneurs

SomerCor and NAWBO Chicago partner to finance female small business owners.

SomerCor recently announced the re-launch of a collaboration with the National Association of Women Business Owners (NAWBO) – Chicago Chapter. Formed in 1978, it is the largest of NAWBO’s U.S. chapters. NAWBO Chicago serves as the unified voice of all female entrepreneurs and represents businesses in all major industrial, service and retail sectors.

Access to capital remains a critical issue for all entrepreneurs. NAWBO’s own public policy survey found nearly two-thirds of members rated access to capital to be an extremely important, issue. As a nonprofit, SBA-certified lender, SomerCor is a natural fit to support NAWBO Chicago members with their capital needs. 

“Working with NAWBO Chicago expands SomerCor’s commitment to be a resource for women small business owners,” said SomerCor President and CEO, Manuel Flores. “This spring we are excited to host a new three-part education series to empower women entrepreneurs. This resource will help women plan how to use capital for their businesses in growth mode.”

Women-owned businesses generate $1.8 trillion in sales each year, and they employ over 10.1 million workers. When women have the resources they need to grow their businesses, there is a tremendous ripple effect in the communities they serve,” explained NAWBO Chicago Executive Director, Melissa Lagowski. “Connecting women business owners with these programs helps more businesses grow and expand. Quite simply, everybody wins.”

For more information about the SBA 504 loan program and other small business financing tools offered by SomerCor, contact Elisabeth Williams at (312) 360-3302 /

About SomerCor

SomerCor is a non-profit lender certified by the Small Business Administration that specializes in originating and servicing SBA 504 loans. Since its founding in 1992, the non-profit has funded over 2300 loans with a total volume of $1.44 billion. SomerCor also administers the Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF) grants for the city of Chicago.

Based in Chicago, the SomerCor mission is to grow businesses, create jobs, and increase impactful investment in every community through access to capital. For more information visit

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