Arsenio Moreno's Journey to Entrepreneurship: Building on a Legacy with AGM Environmental
Story and Photos by Jonathan Turner
Loan Product: Contractor Capacity Loan Program
Loan Product: Contractor Capacity Loan Program
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Arsenio Moreno grew up in Moline, Ill., alongside his father, fixing up homes. In 2021, he started his own company -- AGM Environmental (named for his initials), carrying on his dad’s legacy in the Illinois Quad Cities. Moreno worked with his father doing property management and repairs (his father owned rental properties). Moreno gained hands-on experience in various trades - from doors and windows to roofs and concrete - “a little bit of everything,” he says.
In 2020, he decided to start his own business, and got his state certification in lead abatement. Reflecting on his father’s influence, Moreno says, “He had a lot of property, so we were always fixing something that broke,” he recalls of his father. Moreno calls his dad “a great mentor” in the business, continuing, “He’s been a great influence; he’s always been there with me. He taught me a lot about maintaining homes and just how to make a dollar the right way.” After founding AGM Environmental, Moreno began working with the City of Moline, with lead abatement in older homes. He also did cleanups for Moline Public Works, and weatherization of homes for through Project NOW’s weatherization programs. His work with Project NOW introduced him to to Bridge Investment in 2023. Through Bridge Investment, Moreno was able to secure a Contractor Capacity Loan that helped pay for essential equipment to grow his business, including a dump truck and excavators, while providing financing to bridge construction contracts used to rehabilitate homes through a single-family rehabilitation program administered by Economic Growth Corporation and funded by the Illinois Housing Development Authority. Meeting Bridge Investment Loan Officer Frank Perez and learning about the available loans was really cool,” Moreno says. “It was a big help, big time." Opting not to pursue traditional bank loans, Moreno applied to Bridge Investment in spring 2023 due to the nature of the Contractor Capacity Loan Program. |
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That summer, AGM Environmental completed several projects that summer, including a new roof and a handicapped-accessible bathroom remodel in Erie, Ill.; a new main level laundry room in Silvis, Ill and a handicapped-accessible ramp and stairway, with railings inside and outside, for a homeowner in Rock Island, Illinois.
Moreno highlights how GROWTH was helpful by introducing him to Frank Perez, Loan Officer, who explained Bridge Investment’s Contractor Capacity Loan Program and demonstrating how the program could assist him with his construction contract, enabling him to help pay his labor and materials. “It made it easy for me at the time because I had so much going on,” he says. “Just daily operations alone require a lot. What I really liked about it was how easy it was. I was able to buy what was necessary without being in a tight spot, especially just starting out. It was a blessing."
Moreno also appreciated the low interest rate from Bridge Investment loans. “With the funds they released funds, I got all the jobs done pretty quickly,” he says, noting his contracts for the referenced home improvements for homeowners were with GROWTH.
Starting his own business came with its challenges, particularly in financing, and learning everything, especially navigating the complexities of jobs funded through state agencies, such as the Illinois Housing Development Authority.
He enjoys being able to serve the neighborhood he grew up in. “It means a lot, because I was born and raised here,” Moreno says. “I have an opportunity to do some lead abatement on the Rock Island Arsenal, which makes me feel good.”
“Bridge Investment, the efficiency of how quick they were able to release funds, it was great,” he says. Moreno notes the importance of providing a safe environment for his residential customers. For instance, in Erie, Illinois, AGM Environmental installed a step-in tub, wall-mounted seat, and handrails for a woman with hip dysplasia. “She had a hard time getting in her tub, so we did like a step-in tub, a seat on the wall, handrails,” he says. “That’s the most satisfying part of it, because to us – God willing – we’re still able, so we don’t think about it. At the same time, elderly people need it.”
Moreno loves seeing the customer’s reaction to the finished product. “They’ve been making do with what they have for so long, and knowing that showing won’t be their big battle of the day anymore- it’s everything," he shares.
He recalls another project where he installed new laundry access on the main level of an elderly woman’s home who had a hard time going up and down stairs to do laundry. “We put it on the main level in a little bedroom, made her a little shelf, and she was really happy,” Moreno recalls. “It makes them feel good that they’re still able to fend for themselves and be independent. I have parents who are elderly, so just putting a hand rail up is everything.”
Moreno highlights how GROWTH was helpful by introducing him to Frank Perez, Loan Officer, who explained Bridge Investment’s Contractor Capacity Loan Program and demonstrating how the program could assist him with his construction contract, enabling him to help pay his labor and materials. “It made it easy for me at the time because I had so much going on,” he says. “Just daily operations alone require a lot. What I really liked about it was how easy it was. I was able to buy what was necessary without being in a tight spot, especially just starting out. It was a blessing."
Moreno also appreciated the low interest rate from Bridge Investment loans. “With the funds they released funds, I got all the jobs done pretty quickly,” he says, noting his contracts for the referenced home improvements for homeowners were with GROWTH.
Starting his own business came with its challenges, particularly in financing, and learning everything, especially navigating the complexities of jobs funded through state agencies, such as the Illinois Housing Development Authority.
He enjoys being able to serve the neighborhood he grew up in. “It means a lot, because I was born and raised here,” Moreno says. “I have an opportunity to do some lead abatement on the Rock Island Arsenal, which makes me feel good.”
“Bridge Investment, the efficiency of how quick they were able to release funds, it was great,” he says. Moreno notes the importance of providing a safe environment for his residential customers. For instance, in Erie, Illinois, AGM Environmental installed a step-in tub, wall-mounted seat, and handrails for a woman with hip dysplasia. “She had a hard time getting in her tub, so we did like a step-in tub, a seat on the wall, handrails,” he says. “That’s the most satisfying part of it, because to us – God willing – we’re still able, so we don’t think about it. At the same time, elderly people need it.”
Moreno loves seeing the customer’s reaction to the finished product. “They’ve been making do with what they have for so long, and knowing that showing won’t be their big battle of the day anymore- it’s everything," he shares.
He recalls another project where he installed new laundry access on the main level of an elderly woman’s home who had a hard time going up and down stairs to do laundry. “We put it on the main level in a little bedroom, made her a little shelf, and she was really happy,” Moreno recalls. “It makes them feel good that they’re still able to fend for themselves and be independent. I have parents who are elderly, so just putting a hand rail up is everything.”