Hunter Emory was operating as an independent insurance agent under the State Farm brand in the Sussex County, Delaware area. A ninth generation resident of the county, he attended high school and university locally. He’d kept his business local, but the Emory Agency was growing. A decade of service had seen them grow a reliable client base, and he was ready to purchase a brick and mortar, physical location for his work.
The GAF program allowed me to pursue an alternative method to procure the capital needed to make this project a reality,
Hunter Emory
State Farm Agent
He searched around, and found 216 W. Market Street in Georgetown. He wanted to acquire the property, but also build it out. So he contacted the Grow America Fund for assistance. With a loan of $800,000 (for both the purchase and the buildout), at a fixed rate of 3% and term/amortization (with no balloon payment or change in rate) for 25 years, he was able to improve the 5,000 square foot space to better match the needs of his agency.
“The GAF program allowed me to pursue an alternative method to procure the capital needed to make this project a reality,” Hunter said of the Grow America Fund. “With the fixed rate term program, I was able to take advantage of the low interest rate environment and allocate a set schedule to my loan repayment. This in turn, freed up capital to invest back into the acquisition of new talent, extending our marketing reach, and investing in new software to accelerate our growth through the next decade.”
The opening of the agency’s physical location has allowed it to serve as a fully equipped insurance agency, providing auto, home, life, and disability coverage, while even offering financial and retirement planning.
And Hunter’s work has expanded from there.
“As a multi-office insurance agent, I have worked with a number of communities to find and open new locations,” Hunter Emory, said of his work in the nearby Milford, Delaware area.
His agency was named a top 100 insurance agency out of 20,000 agencies in the United States. They’ve also received a Small Business Premier Award as well. With assistance from the Grow America Fund, it’s exciting to see this business grow and flourish and continue to help the community that has meant so much to the Emory family.
From the ground
