Helpful Funding Resources

May 14, 2020

A shop owner shares what’s helped save him thousands when it comes to government aid.

For those that do it right, Jason Stretch, owner of Legendary Automotive in Fort Myers, Fla., thinks that shop owners that take advantage of the funding out there will be in a better place than ever in a few months. 

The key is knowing what you’re doing and when to ask for help. Stretch, who has gone through the process himself, knows first hand you need to pay attention. The first time he applied for the Paycheck Protection Program, an error at the bank caused him to get $20,000 less than what he should have. But, because he knew what to look for and had the right people helping him, he’s since been able to get that money. 

“You can’t be an expert in everything,” Stretch says. 

Finance, for the most part, is something that many shop owners do not understand, Stretch says. Because of this, it’s essential that shop owners ask people who do know—or risk losing a lot of money. Consulting companies, associations, accountants, trade publications and even other shop owners can be great resources for those who have questions about the funding available and how to ensure it’s forgiven. 

Stretch also shared this Small Business Administration (SBA) procedural notice that he says saved him $48,000.

Download it here:  /ext/resources/SBA-Procedural-Notice-5000-20020-updated-4172020.pdf

Sponsored Recommendations

How one auto shop was able to order 20% more parts

Learn how one auto shop talks about the benefit of using PartsTech in their shop.

Vehicle Inspection Checklist For Auto Shops

Vehicle inspections, whether digital or on paper, are crucial for auto shops, ensuring thorough assessments and fostering trust by transparently revealing a vehicle's condition...

6 Reasons Why A Digital Vehicle Inspection Is A Must-Have

In an era of growing technology and innovation, auto repair shops must keep pace with the latest advancements to meet customers preferences and remain competitive.

How Your Auto Shop Can Now Connect To 30 Tire Suppliers For Free

Yep! We have over 50 tire suppliers in our network. And PartsTech is the only platform where you can access more than 30 of those suppliers FREE OF CHARGE.