Auto Repair Business Dream is Up and Running after Funding Challenges
Shane Hart of Lander, WY, was ready to open his own auto repair and maintenance shop. His goal was to provide an auto repair option that was honest, quality, and affordable. The only thing missing for him was financing to get a shop and equipment up and running.
After approaching his bank and finding out that they were unable to help him, Hart sat down with his accountant, who told him about the Wyoming Women’s Business Center loan program. Hart called to discuss the possibility of help.
After the application process through WWBC, Hart was awarded a $50,000 loan, and in 2014, his business dream was realized. He opened his shop, Auto Medic. With the loan, he was able to purchase a hoist, top-of-the-line A/C equipment, other shop equipment needed to open the doors, and advertising to let the public know of his venture.
“Without WWBC, I would not have been able to open my own shop with the success that I have enjoyed,” said Hart. “As the economy of Wyoming has gone down I have been able to help many customers by repairing their vehicles when they could not afford to replace them.”
In January of 2015, after initial success, Hart was ready to expand his business again, but his bank was still unable to help. He approached WWBC for further assistance to obtain an additional hoist to lift heavier trucks and tire machines, and to add tire sales and repair to the growing business. They were able to provide a second loan for the equipment.
“The WWBC was there to help out with an additional loan, which has made a huge impact to the business,” said Hart. The loans allowed Hart to contract with two companies to repair U-Haul Vans and Ambulances, just to name a few. “Without the help of the WWBC, these additions would not be possible.”
The initial loan to Hart will pay off in two years, and the second loan will pay off in four.
“I provide my customers an honest, highly trained service, at a reasonable rate at a time when things are tight throughout the State,” said Hart. “I owe a sincere thank you to the WWBC for believing in me and my dream of owning my own business.”