LTS Motors, LLC. New Facility Loan
Cory Adamson, owner of LTS Motors, LLC, needed a larger facility for his fast growing auto repair business. Cory approached his bank and was informed that he needed to show another year in business before they would consider financing the facility. In reality his sales were being hampered by his current facility.
Cory contacted Source Capital & Consulting, LLC to review his financial statements and to assist him in securing the financing for this badly needed repair facility. Source Capital worked with Cory and developed a financing package that highlighted Cory’s skills, growth, and clientele. Financial projections were prepared that reflected the projected growth of sales and the cost savings that would be realized with a larger facility.
Source Capital worked with the Region IV Certified Development Corporation to establish an acceptable loan structure for an SBA 504 loan. The package was then prescreened with several banks. One bank was not only interested but aggressively pursued the financing of the facility.
Source Capital not only assisted Cory Adamson in securing financing but was able to introduce him to a contractor to design and construct the facility. Construction is currently underway. See our “navigator bar” to follow the construction of the new facility.