CNY Dealership Expands Empire with New Location Funded by GSBDC

Posted 11.22.22

Loan: SBA 504

Billy Whittaker, owner of Billy Whittaker Cars & Trux in Central Square was looking to expand his used car empire by adding a new location and constructing a facility for his dealership’s second location. While searching for an acceptable property, he was made aware that a local new and used car dealership was available for sale. After researching the possibility of buying an existing Ford dealership in Williamson New York, Billy felt it would be wiser to buy an existing building and become a new and used auto dealership instead of going through the considerable permitting and expense of building a new facility. With that decision, Billy’s next question was financing the transaction. He was made aware that the SBA’s 504 loan program is custom made for a large capital asset acquisition. Working with GSBDC as the certified development company and his local banker, the deal was done and he was “good to go” and now operates Whittaker Ford in unison with Billy Whittaker Cars & Trux. The SBA 504 loan helped Billy retain 17 jobs and create 7 new jobs in the community. 

Billy say’s “We would love to help you with your automotive needs here at Whittaker Ford! You can come to us to shop for a new Ford truck or SUV or a pre-owned model that works for your budget. Or, you can reach out to us for help with auto care so you can keep your vehicle running well for miles to come. We are prepared to assist you no matter what you need from us. Our team loves working with local customers and drivers from our surrounding communities! So, make sure you reach out to us for help today!”