Car dealership owner overcomes past bankruptcy to expand his business with funding through Lendio.
Reason for a loan
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1-50
Rick Hagen has been in the car business a long time. When he was a kid, he would work at his grandfather’s Ford dealership. “Growing up washing cars wasn’t just a job, it was something I loved and looked forward to.” Rick has taken this passion for cars and used it to build his American Dream; Euro Motor Werks, a dealership centered on service and finding the perfect car for the customer.
As it is with most small businesses, the path to entrepreneurship has been a rocky one. Previous to opening Euro Motor Werks, Rick had owned a gym which he had built from the ground up. While the business was thriving and everything was going well, Rick became extremely ill, and after being hit by several major medical bills, he had to declare bankruptcy and close the gym. “People have bankruptcy, I’ve had it, a lot of people have had it.”
The American Dream
After he recovered, Rick built Euro Motor Werks, a car dealership where they specialize in finding European cars for their customers. With hard work and the support of his friends and family, Rick turned the dealership into a successful business. Even though the business was successful, when Rick wanted to find capital to expand, he couldn’t find any because of the previous bankruptcy. Rick was stuck, give up and work for someone else’s dream, or find a new way to get the capital needed, and live his own American dream.
When he found Lendio, he found a company that reflects his own desire to provide exceptional customer service. We interviewed him about his experience, “The lady’s name that helped me, and I’ll never forget her, you know, you guys contact people, you keep up, that’s the customer service. Her name was Peggy, and she said, “you’re approved”. I know I’m good, I know I’m going to make it, and I know I’m going to make my mom and everyone proud. I’ll make my dad proud.”
Lendio found Rick the capital he needed to grow his business, and we can help you find the capital you need to grow or start yours.
Lendio’s mission is to fuel your American Dream by making small business loans simple through options, speed, and trust.
To get started with Lendio, click here to find your loan options.
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