CHICAGO, Jan. 2, 2019 /PRNewswire/ -- SomerCor, Chicago's leading Small Business Administration (SBA) Certified Development Company (CDC), announces today the appointment of Brian Comiskey, CPA, as Executive Vice President and Chief Lending Officer of the firm. In this role, Comiskey will be leading a strategic reboot of SomerCor's SBA 504 loan program focusing on improving operations and driving growth.
Comiskey brings to SomerCor more than 20 years of experience delivering financing solutions to small and lower-middle market businesses, including 11 years at SomerCor from 1995-2006. Most recently, Comiskey was Vice President, Senior Relationship Manager at Growth Corp where he originated and underwrote more than 400 new loan commitments during his tenure there.
"Brian's extensive loan origination experience and SBA 504 expertise will significantly contribute to our growth plan," said Manny Flores, President and CEO, SomerCor. "Our focus is the excellent delivery of financing options to small businesses in close and trusted collaboration with lenders and the Small Business Administration. Brian is a strong leader with influence and credibility. His passion for building client relationships and serving small businesses along with his SBA knowledge will shine through in his new role as we continue our mission to be an outstanding CDC."
The addition of Comiskey to the SomerCor team will support Flores' vision to realize the firm's full potential to become a premier CDC partner of choice for entrepreneurs, SBA lenders and economic development organizations. This new appointment will directly impact the firm's ability to expand and diversify the firm's overall loan referral network and enhance existing banking relationships.
"I am honored to be leading the effort to transform SomerCor's lending programs to provide the highest level of service to our clients and to extend our outreach in the markets we serve," said Comiskey.
In addition to his past roles at Growth Corp and SomerCor, Comiskey has held roles at The Money Store Investment Corporation and the First National Bank of Chicago. He earned a bachelor's degree in finance from Arizona State University. Comiskey received an MBA from the University of Chicago Booth School of Business with concentrations in finance, strategic management, and entrepreneurship. Comiskey is a Certified Public Accountant and he served as Co-Chair of the Economic Development Advisory Board in the Village of Orland Park from 1999-2017.
About SomerCor
SomerCor is a Certified Development Company (CDC), a nonprofit corporation certified by the Small Business Administration (SBA). Founded in 1992, SomerCor provides capital to entrepreneurs throughout Illinois with a mission of business growth and job creation by offering SBA 504 loans in partnership with banks, credit unions and other lending institutions. In addition to SBA 504 loans, SomerCor also facilitates and processes SBA 7(a) Community Advantage loans, City of Chicago's Small Business Improvement Fund grants, and City of Chicago's Neighborhood Opportunity Fund grants. SomerCor is committed to growing economic development opportunities for businesses, entrepreneurs, employees and communities through partnerships with lending institutions and economic development agencies. SomerCor is ranked a Top 25 National CDC for SBA 504 loans and is Chicago's largest 504 loan provider. It holds and services a loan portfolio in excess of $487 million, comprised of more than 965 loans to Illinois entrepreneurs. For more information visit www.somercor.com.
About the SBA 504 Loan Program
The Small Business Administration (SBA) developed the Certified Development Company/504 Loan Program (504 loan program) to promote economic development, create and retain jobs and meet certain additional public policy goals including providing capital to women, veteran and minority-owned businesses. The program helps lenders, such as national banks and federal savings associations provide eligible small businesses with long-term financing to acquire and improve major fixed assets for owner-occupied commercial real estate and heavy machinery. The program helps businesses by giving them access to long-term, fixed-rate financing with as little as 10 percent owner equity.
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SOURCE SomerCor
