He decided it was time to open a second location on the south side of Birmingham and expand his business to include paint customization. He had been working with a new artist lately and wanted to add him to his staff roster. The artist needed his workspace to spray the cars away from others in a well-ventilated room.


Looking at property availability in the South of Birmingham proved challenging as there were already some established mechanics in the area. They did find an older shop that had been left for several years by the previous owner, and the sale price for the building and land was relatively low. The owner could afford to buy it outright but would need to finance construction on the building repairs and build a paint room for his new business venture.

Because of his well-established business, he wasn’t worried about repayment as he had a steady cash flow. Once this new location was open, he was sure that any borrowed money would be paid back quickly.


Looking over his finance options, a loan would be the best choice for his business and its needs. Once he purchased the property, he got a contractor out, and they went over the costs to bring this building up to his standards and to build an addition. The contractor came back with an estimate of seventy-five thousand dollars and a timeline of about six months.


Knowing this, the owner decided to use a short-term loan over 18 months. The application process was easy since he had been in business for over ten years, had an extraordinary FICO rating, and could produce all the necessary bank statements. Once approved, the financing came through in two business days, and the construction company started working less than three weeks later.

In seven months, he was ready for his grand opening. He invited all the staff from his first location, plus all the new staff he hired and trained to tour the new site. Everyone was impressed with all the latest equipment and the prospect of adding custom paintwork to their offerings.


The locals were happy to have a location nearby, and the paint customization was booked out for over six weeks, with customers wanting to enhance the look of their current cars and old classics. The owner was able to pay back the loan in 15 months and has already started looking to expand in Montgomery.

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