Not the space itself. Adding shop space, whether a new building or a larger slab, is building work outside this site. What a Dickinson, ND diesel or auto shop can take to Timberwater's funding partners is what goes inside it: lifts, scan tools, alignment racks, parts room shelving, the parts stock, and the purchase of a running shop.
Shop space is building work outside this site. Lifts, scan tools, alignment racks, parts room shelving and stock can be financed, and buying a running shop fits a term loan.
Auto Repair Loans and Tool Upgrades: Notes for Dickinson, ND Repair Shops
Stark County, ND repair shops make a trade of their own in the Census count: 37 employer establishments at NAICS 8111, Automotive Repair and Maintenance, in the 2023 County Business Patterns, 19 of them at the general automotive repair code, 811111.
In a separate program, the 2024 Nonemployer Statistics found 57 automotive repair and maintenance businesses in the county that had no paid employees.
A tool upgrade is a purchase with a quote and a price, which is what an equipment request needs. A diesel diagnostic kit, a tire machine or a transmission jack can each be financed alone, or bundled into one equipment financing request when they come from the same seller. The auto repair funding page sets out the county's shop figures in more detail.
Repair Shop Loans Explained With a Stark County, ND Auto Repair Shop Buying Two-Post Lifts
Illustration only, invented figures: a Stark County, ND repair shop orders two 12,000-pound two-post lifts at $8,650 each, installed. After $1,300 down, $16,000 is left to finance, and at 11.25% a year over 48 months the payment is $415.47. By the last of the 48, the shop has paid $19,942.56, and $3,942.56 of that went to interest.
Lifts are anchored to the floor, so the request should say whether the floor can hold them. If the concrete has to be cut out and poured again, that slab work is building work outside this site; the lifts and their installation are equipment. A lift quote that gives the rated capacity, the arm style, the column height and whether installation is included lets a partner see what is being financed without a second call.
Mechanic Shop Loans and Scan Tools: What a Stark County, ND Auto Repair Shop Can Finance
Scan tools come with software subscriptions as well as hardware. The hardware is equipment; the subscription is an operating cost paid from working capital, so the request reads more clearly when the quote lists the two apart. For a set of smaller tools bought together, a term loan covering all of them can be simpler than separate equipment agreements.
The parts room is the second half of the question in the title. Its shelving and bins are equipment, and the stock on them, filters, belts, hoses and brake parts, is inventory that inventory financing can carry. The room itself, if it means new walls or a larger footprint, is building work outside this site.
Repair Shop Financing: Alignment Racks and Buying a Running Shop
An alignment rack is a larger purchase than a lift and is financed the same way, with the rack named as the item in the request.
Illustration only, invented figures: a mechanic buys a running Dickinson, ND repair shop for $285,000: $190,000 for its lifts, racks and tools, $35,000 for the parts stock and $60,000 for the name and customer list. The building is leased from its owner and is not part of the price. With $42,750 down, a $242,250 term loan over 84 months at 10.5% a year carries a payment of $4,084.50, or $343,098.00 over the full term.
Papers for a shop purchase differ from an equipment request. The seller's last two or three years of tax returns, a list of the lifts, racks and tools with their ages, the parts count at closing, and the lease with its remaining term show what the price buys and whether the shop can carry the payment.
A purchase that includes the building is a real-estate deal, and real-estate loans are outside this site. Local business figures for the area are on the Dickinson, ND funding page.
By Timberwater Funding Group · Updated
