Clearinghouse CDFI (CCDFI) funded a $1,230,000 loan to Faizal & Shainaz Awadan to consolidate debt and refinance their car dealership and auto repair shop, located in a low-income area.
Situated in the heart of Stockton, CA at 1611 & 1615 Mariposa, two robust automotive businesses—’Guaranteed Auto Repair‘ and ‘Own A Car‘—drive the local automotive retail scene. These establishments stand tall on two significant properties totaling over 6,200 square feet of building space. Clearinghouse CDFI is proud to have funded a $1,230,000 loan for these community businesses, consolidating two previous loans and securing a more favorable interest rate. This venture not only ensures streamlined financial operations for Faizal & Shainaz Awadan, but also fortifies its stance amidst a shifting interest rate landscape, underscoring CCDFI’s commitment to bolstering local commerce.
Embedded in Stockton’s automotive landscape since the early 2000s, Faizal & Shainaz Awadan have focused on bringing life to the bustling Guaranteed Auto Repair since 2006 and Own A Car dealership since 2003. As 50/50 owners, they’ve consistently steered both businesses with hands-on leadership, driving service and quality in the heart of Stockton.
Read the full story here: Just Funded – Stockton Auto