Bill Heard Chevrolet, which had been owned by Bill Heard Enterprises of Columbus, Ga., was accused of deceptive practices in falsifying a mother and daughter’s income on a loan application so they could buy a brand new Chevrolet Cavalier, according to state regulators. The vehicle was later repossessed after the two couldn’t afford to make payments, according to the settlement. The company later paid off the delinquent loan and settled a separate lawsuit with the mother and daughter.

Bill Heard Enterprises will have to get approval from the commission to open any new branches in Tennessee. The company has a location in Collierville near Memphis. Bill Heard’s attorney and executives could not be reached for comment late Tuesday.