Background – 4T’s Repair – SBA 504 Loan Program Case Study
Located in Wells, Nevada, 4T’s Repair is a vital diesel mechanic service that not only keeps local big rigs operational but also provides critical maintenance services across Nevada, Idaho, and Utah. When faced with the sudden opportunity to purchase the building they had been leasing, Rick and Julie Thuemler of 4T’s Repair found themselves in a difficult situation. The first right of refusal on their leased building came unexpectedly, leaving them with limited options due to the rural nature of their location.
Challenge
The challenge was significant. In a small town like Wells, the availability of commercial properties is minimal, and the option to relocate was nearly non-existent. The Thuemlers had not planned to purchase a fixed asset so soon and were unprepared for the complexities of a real estate acquisition under such pressing circumstances.
NSDC’s Solution
Nevada State Development Corporation (NSDC), understanding the critical role 4T’s Repair plays in the local and regional supply chain, stepped in to assist. NSDC partnered with Rural Nevada Development Corp (RNDC) and without the involvement of brokers, managed a direct transaction between the seller and buyer. This approach streamlined the process and addressed the unique challenges of the situation. Additionally, environmental concerns were expertly handled by Dietrick McGinnis of McGinnis & Associates, ensuring all regulatory requirements were met.
Outcome
The application for an SBA 504 loan was successfully approved, thanks to the hard work and determination of all parties involved. The loan not only saved the business but also, as Rick Thuemler puts it, “maybe even some lives,” highlighting the critical nature of the services they provide. The moment NSDC’s Closing Manager, Stephanie Morris, and the Thuemlers hugged it out at 4T’s Repair, it was a clear symbol of relief and a future secured. The impact of the SBA 504 loan was immediate and profound, ensuring that 4T’s Repair could continue its essential services without interruption.
“We are deeply grateful to NSDC and all our partners for their incredible support through this process,” said Rick Thuemler. “This isn’t just about business—it’s about maintaining a lifeline for our community. Our journey with NSDC was more than a transaction; it was about building hope and sustaining our livelihood.”
Conclusion
This case exemplifies how targeted financial support, such as the SBA 504 loan program, is crucial for small businesses, especially those in rural areas. NSDC’s commitment to supporting Nevada’s diverse business landscape, from rural to metropolitan areas, continues to strengthen the economic foundation of the state.
For more information about how NSDC can assist with the SBA 504 loan program, please contact us.
