Angelica Garcilazo Insurance Agency: SomerCor 504 DPAP Feature

Small Business, Big Dreams: Customer service, professionalism, and trust have guided Angelica Garcilazo Agency Inc. since 2019. Namesake and owner Angelica Garcilazo opened her local State Farm insurance agency to help the people in her community feel educated and secure about their finances. Now it’s her turn: The Angelica Garcilazo Insurance Agency is SomerCor’s first Cook County Down Payment Assistance recipient! 

With seven years of hard work, dedication, and relationship building under her belt, Garcilazo is ready to ramp up her operations to help more individuals and small businesses understand risk, select appropriate coverage, and maintain financial protection over time. Garcilazo built a business with a strong foundation and a bright future; she owns her business, and now she’s ready to own her building, too.  

SBA 504 Building Purchase and Down Payment Assistant Grant 

Garcilazo’s agency was operating out of a 1,200 square foot rental space, and with a fast-growing customer base, the business quickly grew out of it. Partnering with Old National Bank and SomerCor on an SBA 504 loan, Garcilazo was able to purchase her own space to expand her business. Not only did Garcilazo take advantage of the long-term fixed-rate financing of the SBA 504 loan, she also received down payment assistance from SomerCor. The Down Payment Assistance Program, powered by the Cook County Small Business Source, helps businesses in Cook County purchase their first building. Garcilazo was granted $25,000 to lower her borrower contribution by half.  

“Eric and the team at SomerCor were incredible to work with. I am so grateful for all their guidance, and I feel so lucky to have received additional support with their Down Payment Assistance Program.”

The building purchase stabilized costs and allows Garcilazo to build equity into her business. The agency’s operating space more than doubled, totaling 3,000 square feet to make room for a larger staff and the ability to take on more customers.  

SomerCor Team Members: Loan Officer – Eric Bacon; Credit Analyst – Eugene Lee; Closing Analyst – Laura Morales 

Like a Good Neighbor, Angelica Garcilazo Insurance Agency is There: Check out their website or call (773) 565-4763 for more information. 

Visit https://somercor.com/dpap/ to learn more about SBA 504 down payment assistance and how the program helps small businesses expand.