Accelerate Your Business With An Auto Repair Shop Loan
As new car prices have climbed, the value of used cars has continued to appreciate. As a result the average lifespan of a used car is higher than ever. This is a positive trend for auto repair shops since there is an increasing demand for auto repair services as used cars age. This may be a great opportunity to use an auto repair shop loan for additional financing to increase staff, equipment, parts, or training.
Financing for an auto repair shop business can be difficult due to the nature of the business and a traditional bank’s uncertainty about lending to single proprietor or young businesses. As a result, a traditional lender will require years of financial and credit history together with asset collateral to decide whether it is a prudent financial risk to approve an auto repair shop loan.
Often an auto repair shop loan will require a minimum of two to three years of successful operations to be considered. The good news is that your auto repair shop business is no longer dependent on traditional financial institutions. Nexus Financial Services offers business owners alternative financing options, like a small business loan and a merchant cash advance, to allow owners the capital they need to strengthen their business and take advantage of new opportunities.
An Auto Repair Shop Loan Benefits
Whether you’re looking to attract more new customers, more revenue per customer, extend service offerings, add new equipment or technology, an auto repair shop loan provides the additional business capital to accelerate your business with ease. With our business financing options, whether an auto repair shop loan or merchant cash advance, your additional capital can be used to finance:
Front Of House Improvements
- Purchase chairs, background music, signage
- Update floors, lighting, decor
- Revise waiting area layout for efficiency
- Go Green with walls, displays
- Expand staffing
Back Of House Expenses
- Upgrade restroom, waiting areas
- Replace equipment like cash register, site security
- Improve parts areas for improved efficiency
- Purchase small wares
- Upgrade safety conditions
- Modernize Point Of Sale (POS) System
- Integrate inventory system with front of house
- Refresh auto repair shop web site
- Create auto repair shop mobile app
- Use mobile SMS to current customers
Day To Day Operations
- Additional certification of staff
- Repaint, add cable TV service
- Purchase new staff uniforms
- Balance cash flow during down periods
- New/expand advertising
Use An Auto Repair Shop Loan To Rev Up Your Business
A Simple Process – Apply online in minutes, get approved in 48 hours and access to funds in 72 hours!
Higher Approval Rates – Approval for funding is based on the overall health of your business, not just FICO score.
Daily Repayments – Daily scheduled payments mean no large lump sums are waiting for you at the end of the month.
Flexible Terms – We offer terms up to 18 months and business funding amounts ranging from $5,000 to $500,000 so you can unlock your success.
Very High Approvals
The application process for our small business loan financing is simple and straightforward. Since we focus more on the strength of your business than your personal credit score, we have very high approval rates. Your business can receive a decision and get funding in just a few days. Our general guidelines are:
Business Age – Your business has been operating for a minimum of one year.
Monthly Revenue – Your business monthly revenue is a minimum of $5,000 in sales.
Credit Score – We take into consideration your business credit, but it is only one of several factors we consider.
Why Choose Auto Repair Shop Loan Financing?
Whether your business needs new equipment, additional inventory, more personnel, room to expand or an acquisition opportunity you don’t want to miss, we can help you obtain the financing your business needs to make it happen. Our auto repair shop loan is designed to help you grow your business, manage the challenges as you build your business, or support you through the seasonal slow times of your industry.
At Nexus Financial Services, we provide a variety of financial options for small businesses. We are there for you when you need to make fast investments to take advantage of available business opportunities. Our small business loans and merchant cash advance can be approved within a couple of days versus the weeks or months of a traditional lending institution. Because we have the experience and understanding of small business needs, we also offer some of the best small business loans and financing solutions available that result in the success of our clients.