Chris Auto Repair Service Purchases Building

Posted 03.03.14

Loan: SBA 504

Christopher Cretaro, who owns Chris’ Auto Repair Service (CARS) with his wife Michelle, recently purchased the facility at 6312 East Molloy Road in East Syracuse where he has operated since March 2010 when he purchased the business from his father. The 6,600 sq. ft. building constructed in 1990 is a one story Morton building located in a well-developed commercial and light manufacturing area.  The location has allowed Cretaro to grow a solid fleet maintenance customer base, in addition to serving the employees that work nearby.  The building includes office and reception space of 1,200 sq. ft. and a service area of 5,400 sq. ft. that accommodates 10 service bays.

Considered a one-stop shop, CARS provides general automotive and fleet repair services that include computerized diagnostic equipment, wheel alignment, oil changes and state vehicle inspections for light to heavy duty vehicles and motorcycles. They offer repair services for engines, transmissions, air conditioning, shocks, struts, and brakes; and honor extended warranties for individual and fleet owned vehicles.  They also provide welding services for trailer and snow plow repair, hitch fabrication, custom parts and frame repair.

CARS currently employ eight full time employees including six mechanics, and one office administrator.  As a result of this project, additional cash will be available for working capital as rent expense is replaced by a lower debt service.  In time this will allow Chris to grow the business, hiring up to three additional employees.

M&T Bank provided financing for 50% of the total project cost, with GSBDC providing 40% through the SBA 504 program with the Cretaro’s responsible for an equity contribution of 10%.

Pat O’Neil, Vice President, M&T Bank commented “The SBA 504 Program was the perfect solution for Chris’ Auto Repair Service.  Peggy Adams and Kathy Campbell made the process as simple as possible. We are happy to have been a part of this deal and to assist a quality company like Chris’ Auto Repair Service.”  Chris Cretaro stated “The benefits of the program helped me to achieve the unachievable.  I was able to purchase the building that I have been renting in order to lessen my overhead costs and make my business more efficient.  The staff at GSBDC were knowledgeable and very helpful in obtaining what I needed to succeed.”