Photo | Courtesy of Worcester Business Development Corp.
Welberson Nunes, the founder, owner and president of Universal Insurance Agency
April 27, 2021
Brazilian immigrant eyes expansion of Worcester business
Photo | Courtesy of Worcester Business Development Corp.
The Universal Insurance team celebrates the closing of the financing deal for Owner & President Welberson Nunes to buy his building.
By Amy Thai
Since 2006, Welberson Nunes, along with his family, has been building his Universal Insurance Agency and now is poised for faster growth as he cultivates clients throughout Worcester and Middlesex counties to understand the fundamentals of insurance.
In March, the Worcester Business Development Corp. announced Nunes had received two loans totaling $850,000 from the U.S. Small Business Administration’s 504 loan program. Nunes, the president and owner of Universal Insurance, used the funds to buy both of his business’s buildings: the main location acquired $500,000 and the second building the remainder $450,000. He now has plans to further expand his business.
Nunes advised although many business owners, including himself, may go into an SBA loan application thinking it’s an overwhelming process, having the assistance of others like the WBDC was a great help in completing this.
“Although my 504 Loan process was somewhat long, it was smooth and worth the time. I personally believe the SBA 504 Loan is the best commercial real estate finance program to help small businesses like Universal Insurance Agency. Working with the WBDC team was the key to its success,” he said.
As president of the Worcester Brazilian Association who immigrated from Brazil at age 17 and first started work as a dishwasher, said he has seen a noticeable influx in the clients during the last year, especially in the Brazilian and Hispanic communities. He said he is able to cater to a wider demographic as there is no language barrier with him for people whose first language isn’t English.
During COVID-19, Nunes said unlike what was expected, this pandemic hasn’t affected his company much and has in fact even increased its revenue. As Universal Insurance continues to be consistent and open five days a week, he and his team have found alternatives to communicating with clients, doing so virtually.
Now staffed with 11 workers, Nunes is in the process of hiring more employees as he plans on expanding to more locations including a second office in Leominster, and in other states such as Connecticut and Florida.
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