Jason Faylor started his career as an automotive technician in the Denver metro area 25 years ago doing oil changes. As time went on, he enhanced his skillset and moved up the ranks to become a lead technician and shop manager.
After mastering his trade, the next logical step was to own his own repair shop. Faylor approached the shop owner where he had worked for 15 years to express interest in purchasing the business, but it wasn’t the right fit.
So, he left in search of a better opportunity and began working at Chase Automotive Repair in Aurora, CO. In 2021, the owner of Chase Automotive was ready to move on and Faylor began the process of acquiring the business.
Though Faylor had spent more than two decades perfecting his craft as a mechanic, entrepreneurship was brand new to him.
“I started out changing oil and over time I used my self-determination and drive to learn about things that would make me a better technician,” Faylor said. “Now I’m going to be the best businessman in the area – I just need to keep that drive going.”
To prepare for this new chapter in his career, Faylor took advantage of technical assistance offerings from a local business support organization. One of the areas in which they helped Faylor was building a business plan he could present when seeking financing.
In working with a local financial institution, Faylor was eventually referred to CRF. In September of 2022, after nine months of preparation, Faylor received an SBA 7(a) loan from CRF to acquire Chase Automotive.
The CRF loan also included financing for working capital, and Faylor used these funds to update the shop’s technology, boost marketing efforts, and provide training for his staff. And though he is putting his own stamp on the business, Faylor plans to continue offering the same quality service that has made Chase Automotive successful for the last 30 years.
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