NCIC introduced New Markets Tax Credits to St J Auto Group and then provided leadership and support to help them achieve a New Markets Tax Credit solution. With this funding, they were able to:
- Reconfigured and enlarged the Buick, GMC property to include a service drive, improve the comfort and experience for the customer and staff.
- Expanded the Subaru operation. To accomplish this they purchased an existing facility and made renovations to transform the facility into a state of the art dealership. The Subaru operation will move to this site.
- Developed a new Chrysler, Dodge, Jeep and Ram automobile dealership at the former Subaru dealership location.
The result has been a dramatic increase in sales, many more great jobs and satisfied customers.
After completing this NMTC, we at NCIC then participated with their bank with our 95 Partnership Loan Program to help St J Auto Group to purchase Flanders & Patch in Lebanon NH. With this purchase, the dealership is now Lebanon Ford.
As described in this video, Mr. John Loschiavo, President of St J Auto Group describes their working relationship with NCIC and the experience. NCIC has assisted this outstanding company with financing for many decades and is still an extraordinary resource that John strongly recommends to other businesses that are growing.
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