Michael and his team were great. We ended up in a real pickle in August, and Michael and his team were able to bridge loan us the money to meet our closing deadline. They didn’t have to do that, but they stepped up and went above and beyond for us. We are actively moving a large portion of our banking relationship over to Dogwood as soon as they establish a branch in town.
Client Profile
Harrell’s Automotive is a full-service automotive repair facility, offering complete mechanical repair and diagnostic services. Located in the Fayetteville, North Carolina area, Harrell’s Automotive has five existing locations, with a goal to expand to additional locations in the future. The experienced team at Harrell’s Automotive is dedicated to helping customers get the most life out of their vehicle, with ASE certified technicians looking at every vehicle that comes through the door. Not just a quick lube or tire store, Harrell’s Automotive is focused on being a trusted advisor for customers, providing thorough, high-quality service, longer warranties, and peace of mind for customers, nationwide.
Loan Profile
Owner Brandon Harrell entered the automotive industry following college with the start of his own auto parts business. As the auto parts industry began to change and consolidate, Brandon decided to sell the auto parts side of his business in 2019 and focus solely on expanding Harrell’s Automotive. This effort to expand led Brandon to the acquisition of an additional business, a former customer in the parts industry, offering a unique perspective and familiar customer base. In pursuit of financing for the business acquisition, Brandon was introduced to Michael Johnson through a local commercial banker. Together, they determined the SBA 504 Loan to be the best option, which allowed Brandon to enter into the loan with less money down and a locked in interest rate. The SBA Loan Program provided a unique financing opportunity for the business acquisition, which in turn lends validity to the business as they continue to expand.
For more information on the SBA Program and the range of lending solutions available, visit our website! Michael Johnson and the rest of our experienced SBA team are here to help you put your goals into action.
