Buying an existing business is fraught with challenges, even if you have the knowledge and skills to provide the service. Mark Wells in Corner Brook knew this when he took ownership of Superior Auto Repairs in 2024.  

The garage, which offers service on all makes and models – from oil changes to brakes, suspension repairs and tire changeovers – had been open since 1997. A trusted, beloved local business, Superior Auto Repairs had astonishingly high ratings from customers and Mark knew keeping those customers happy through the transition of ownership would be key to his success.  

“This has been a long standing business and the community relies on good service and trustworthy work,” Mark says. “It is a lot of work, but there are a lot of benefits as well. 

“I look forward to every day, doing the work that I enjoy.” 

Taking the Wheel 

Five-star service aside, financing was also a real issue for Mark as a garage and equipment are a significant capital investment. That’s where CBDC Humber stepped in to help with a Small Business Loan.  

“I could not take over the business without it,” Mark says.  

Commercial loans through CBDC allow small business owners to borrow up to $150,000 with short or long terms and low interest rates. As a result business owners like Mark can focus on developing their business, rather than the stress of an overwhelming financial burden.   

Aside from repayable loans, CBDCs across the province offer support, advice, and guidance through business consulting services, management training programs, and succession planning. When you’re ready to discuss the lifecycle of your business, get in touch with your local CBDC and discover your road to success.