Loans help Ricardo Pascual drive into the auto industry

Small Business

Para la versión en español de esta historia, por favor oprima aqui.

Carlos Barcenas contributed to this story.
 
Ricardo Pascual’s love of cars started when he was a young boy. Watching his father fix up and trade different automobiles throughout his childhood sparked a passion to pursue the dream of having his own auto sales business.
 
Upon moving to Nebraska, Ricardo found a home he loves in Grand Island, which also became the perfect home for his business.
 
In 2008, he began working with cars and selling them on the side, then opened Latino Auto Sales in 2015 as a sole proprietorship. Today, his business operates as an LLC.
 
“My dad really enjoyed cars, and he was a businessman,” said Ricardo. “He knew a lot about cars, so when he wasn’t buying and selling them, he would upgrade them. He really enjoyed having different models of cars, so he would trade often. I really enjoyed watching that process and learning from him.”
 
With assistance from the Center for Rural Affairs, Ricardo got a loan in February 2015 that helped him buy inventory for Latino Auto Sales. In December 2015, he took out another loan to purchase more inventory.
 
Center loan specialists work with entrepreneurs to build a solid foundation on which to start or grow a business. Our small business loans come with expert support and assistance in areas like marketing, management, finance, credit counseling, and strategic planning.
 
Griselda Rendon, Latino loan specialist with the Center, helped guide Ricardo through the loan process and helped him again in March 2021, when Ricardo received additional financing from the organization.
 
“When Ricardo opened his business, he was able to create a great relationship with the owner of the building he leased,” said Griselda. “When the owner was ready to sell, Ricardo was first in line to receive the offer.”
 
With financing from the Center, Ricardo was able to buy the building as well as the lot, and also did remodeling that included paving the car lot and expanding the restroom.
 
He prides himself on offering fair, attentive service to all of his customers. And, along with one other full-time salesman, he sells all types of used cars in a variety of makes and models.
 
“My favorite part about having my own business is being able to give my clients the best service possible,” said Ricardo. “We sell used cars, and we offer opportunities and work with anyone regardless of their credit history or no credit history. We also work with banks and financial institutions to try to finance and make it possible for people to obtain a car.”
 
Ricardo is grateful his passion for cars has turned into a successful business. He thanks his father for inspiring him and the Center for helping him realize his dream.
 
“Working with the Center was a very good experience,” he said. “Sometimes things can get complicated when you get a loan, but receiving help from them was definitely an advantage. They helped me throughout the process, lessening the burden and making everything easier to understand.”
 
To learn more about the Center’s small business loans, contact a loan specialist in your area. Find yours at cfra.org/lending-staff.

At a glance

Latino Auto Sales, LLC
Ricardo Pascual
117 E. Fifth St.
Grand Island, Nebraska
Hours: Monday through Saturday 10 a.m. to 7 p.m.
308.384.1471
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