A loan of $5,250 helped car Parts: tires, brake pads, etc.

Collins's story

Collins L. began working with cars at a very young age with his father who was a mechanic. In fact, he required Collins to help him with car repairs as a means of discipline when his son got into any sort of trouble.

Collins says, “What started as a punishment turned into a profession.” Collins had repaired cars for over 30 years at several different corporations in New Orleans when, a year ago, he decided to pursue his dream of starting his own business, L. Automotives. His wife, Helen, had already started a daycare facility at the same time Collins started his car shop. They used their savings and investments to make their start-ups successful.

With only one employee, Collins is very busy. He juggles between answering the phones, helping walk-in customers, and repairing cars. The recent oil spill in New Orleans has not helped his situation because many of his customers were laid off so they stopped spending their money even on car tune-ups and repairs. One of Collins main services is changing oil and the oil prices have increased.

Collins plans to stock up on car parts with the loan: brake pads, tires, etc. Collins says, “I can’t spend as much money as I used to because it all goes back into the business. Even though being self-employed has its ups and downs, working for yourself is always worth it.”

Loan details

Lenders and lending teams

Loan details