LOAN OVERVIEW

Borrower: Martin’s Motorworx, LLC
Loan Amount: $178,000
Location: Columbia, SC
Project Type: Community Business

SITUATION

Martin’s Motorworx is a family-owned and operated repair shop located in Columbia, SC’s Two Notch Road community. The Martin family has leased their current space since 2015, and grew attached the surrounding neighborhood. Their fair pricing and dedication to quality has earned them the trust of their neighbors and resulted in Martin’s Motorworx being awarded a contract with the City of Columbia to maintain their fleet of 81 vehicles. As their business has grown, it has become increasingly important to the Martins that they remain a fixture in their community so they sought to ensure long-term stability through property ownership.

SOLUTION

The City of Columbia’s Office of Business Opportunity was working with the Martins on the purchase of the property where their business is located, but they needed a lending partner. The Office of Business Opportunity knew South Carolina Community Loan Fund would be an ideal partner because of their shared desire to support equitable revitalization and the development of a diverse small business community. SCCLF loaned Martin’s Motorworx $178,000 to purchase the Two Notch Road property.

IMPACT

The benefits of supporting strong, diverse local businesses can be felt by everyone from the business owner to their employees, to their community as a whole.¬†Financing the purchase of the Martin’s Motorworx property will help retain five jobs, while creating two more in the near future. A family-owned community business will now enjoy the financial stability provided by property ownership, as well as an asset to be passed down to future generations. Further, a neighborhood in the midst of renewal will be able to continue to rely on the essential service provided by a small business enterprise committed to quality and fairness.

Learn more about SCCLF’s Community Business lending program.