NASHUA, N.H. (April 1, 2009) – The response to ASA Tire Systems' “$1 million Tire Dealer Bailout Program” has been overwhelming, the company said, with nearly 150 independent tire dealerships nationwide submitting grant requests that are being considered for funding.
The Nashua-based computer technology services provider said approximately 15 percent of the $1 million fund it set up has been awarded, three weeks after the program was launched.
The company is offering what it's calling an “economic bailout package” for qualifying tire dealers in the U.S. and Canada to invest in ASA's products and services. The money is in the form of a grant—that does not have to be paid back—put toward a percentage or total purchase of ASA technology, which ranges from software and hardware to Web site and e-commerce enhancements.
ASA Tire President Wayne Croswell said he's “ecstatic with the early response” to the program, noting: “I am humbled by the various applicant's situations and hardships across the United States. When we decided to launch this bailout program, we hoped we could get the American spirit to band together and rise again, and help get our industry out of these difficult times.
“I think this program has awakened that great American spirit within our industry, and I am convinced more than ever that together we will play a significant part in the economic recovery. I am glad to see that others in the industry have stepped forward to play their part as well. I hope to see more companies do whatever they can to contribute to this economic recovery.”
Dealers interested in applying for funding can still visit the company's Web site at asatire.com/bailout to fill out an application, or by calling an ASA Tire representative. Dealerships of any size are eligible.
For more about ASA's program, watch the March 16 Tire Business News Minute video.