Peter Songu wanted to open his own garage as a sole trader to serve his local community – St Paul’s, in central Bristol. Feedback as a mechanic in another part of Bristol suggested that people from St Paul’s did not want to travel to other parts of town for this service.

 

Although Peter had an in-depth experience as a mechanic, he required professional business advice and support. Peter also needed funding for tools, premises, insurance (particularly expensive in the Inner City), and for working capital until the business started bringing in money. 

 

He approached commercial lenders to enquire about a business loans and support. As a start-up, Peter had no historical business accounts proving ongoing custom. He did not have any security to offer in case of payment default, and so traditional commercial lenders were not prepared to lend the amount Peter needed. 

 

Peter turned to CEED, The Centre for Employment and Enterprise Development (www.ceed.co.uk) – offering competitive loans to those businesses that are unable to raise the required funding from traditional sources. 

 

With the money from CEED, Peter was able to open CARS Automobiles in St Paul’s, providing a well-used local service. CARS Automobiles brings Peter as much money as he earned when he was employed elsewhere, and gives him the added satisfaction of the pride and self-esteem associated with running a successful business. 

 

The community has benefited by more than just local garage services – Peter happily gives time to local children interested in learning the trade of a mechanic. He acts as a local role model proving that you can be successfully self-employed within the Inner City. When Peter’s workshop is open late into the night, locals say they feel safer walking down the road knowing he is there.

 

CARS Automobiles has been trading for over 5 years now.

 

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