- Funding
- $100K
- Product
- Term Loan
- Industry
- Auto service
- Location
- Cleveland, OH
Buying the equipment that opened a whole new revenue line.
“We bought the alignment rig that opened up fleet work. The loan paid for itself before the first season was out.”
Castellano Auto Service had built thirty years of trust with local drivers, but the commercial fleet work in town kept going elsewhere — Tom’s shop didn’t have the heavy-duty alignment system those vehicles needed. The machine that would win that business cost more than a good year of profit.
States Funding financed a $100,000 term loan for the alignment system and the bay upgrade to house it, with payments scheduled to start as the new service line came online.
“At my age you don’t want to bet the shop on a guess,” Tom says. “They walked through the numbers with me until I was sure the work would be there. It was.”
The fleet contracts followed within the first season, the equipment paid for itself ahead of schedule, and Castellano Auto Service has since hired two more technicians to keep up.