Retail

Miracle Motor Mart
Columbus, OH, Franklin County

Miracle Motor Mart has 45 employees, a combined inventory of 400 vehicles, and ranks as the largest independent dealership in Central Ohio. The 504 loan program was utilized to finance a new building and site improvements at their existing used car dealership on Morse Road in Columbus and to refinance the existing mortgage debt on the property. The site previously utilized trailer style buildings. By constructing a solid permanent structure, the company upgraded its image and improved their customer experience.

Loan Program: SBA 504
Project Details: Purchase of the building
Participating Lender: WesBanco Bank
Website: http://www.miraclemotormart.com/

Chesrown Chevrolet Buick GMC, Inc.
Delaware, OH, Delaware County

Chesrown Chevrolet, Buick, GMC is a family owned and operated dealership that has proudly served Central Ohio for more than 50 years. New and pre-owned vehicle sales and service operations were located in a 14,000 s.f. dealership building at 1588 Columbus Pike, Delaware, Ohio. Chesrown’s expanding business had outgrown this facility but wanted to stay close to their home market and was able to purchase one of the last prime commercial sites along this stretch of Rte. 23 at 1701 Columbus Pike. In the fall of 2012, Delaware County Bank and Ohio Statewide Development Corporation jointly approved a financing package for the construction of a 33,000 s.f. new vehicle sales and service dealership facility. This impressive new site and building were completed in late 2013. The pre-owned vehicle sales business remains at the former location.

Loan Program: SBA 504
Participating Lender: Delaware County Bank & Trust
Project Details: Construction of land and building
Website: http://www.chesrown.com/

Ken Washington Automotive Parts, Inc.
Pataskala, OH, Licking County

CarQuest store brand is a supplier of replacement products, accessories, supplies and equipment for all makes of automobiles, light and heavy duty trucks, off-road equipment buses, recreational vehicles and agricultural equipment. CarQuest stores also distribute and sell tools, equipment, chemicals, paints and other accessories.

Loan Program: SBA 504
Participating Lender: PNC Bank
Project Details: Purchase 2.87 acres of land and an existing 31,267 square foot building
Website: http://www.cqdib.com/

Resellables Thrift Store, LLC    
Loudonville, OH, Ashland County

Resellables Thrift Store opened in May 2011 in downtown Loudonville, OH.  They offer new and used items in good condition. They have a continuously changing inventory of furniture, home appliances, clothing, and other unique items for resale in the store. In 2016, the owner purchased and improved their building.

Loan Program: SBA 504
Participating Lender: Farmers and Savings Bank
Project Details: Acquisition of its existing space, a 9,436 SF building
Website: https://www.facebook.com/resellablesthrift/

Stake’s IGA
Loudonville, OH, Ashland County

In 2011, the Stake family purchased the IGA grocery store business in Loudonville, OH, but leased the real estate from the former owners. In early 2016, they decided to purchase the building and found a conventional loan required twenty percent down. By utilizing an SBA 504 loan, OSDC and Farmer’s Savings Bank were able to offer funding with only ten percent down.  The Stakes will continue to operate a family-owned grocery for years to come!

Loan Program: SBA 504
Participating Lender: Farmers and Savings Bank
Project Details: Purchase and improvement of the building
Website: http://www.stakesiga.com/