Elisabeth Williams named VP of SBA 504 Lending of SomerCor

Chicago-based Small Business Administration (SBA) Certified Development Company (CDC) SomerCor has hired Elisabeth (Lis) Williams as vice president of SBA 504 Lending. Williams is an experienced SBA lender with a distinguished track record in business development and operations.

“We are thrilled to have Lis on board. She is a proven leader in the SBA 504 market and is a key addition to our talented lending and sales operations,” said Manny Flores, president and CEO of SomerCor. “Her background as an entrepreneur and deep understanding of the SBA 504 loan program strengthens our trajectory for accelerated and sustainable growth. Lis will be instrumental in helping us further diversify our business relationships while also enhancing our customer and lending partner experience.”

Most recently, Williams co-founded and served as the vice president of Wessex 504 Corporation. During her eight-year tenure, she grew the CDC’s portfolio to more than $110 million. Her responsibilities included business development and the execution of all aspects of the loan approval process, from origination to closing.

Williams joins SomerCor as part of a growth strategy based on best-in-class customer service, enhanced marketing and new client acquisition, as well as recruitment of top market talent. This is the second time that she will be part of the SomerCor team; after receiving her MBA at the University of Chicago Booth School of Business, she served as the manager of community development and senior officer.

“I am excited to join talented and committed professionals who work as a team to deliver quality service for entrepreneurs and lending partners,” said Williams. “The SomerCor mission to provide small businesses access to capital strongly resonates with me, and I look forward to helping expand our footprint throughout Illinois to grow more businesses and create more jobs.”