Funding for Automotive Repair Industry
The automotive industry encompasses a wide number of small businesses, from auto dealers to auto repair shops and everything in between. When a small business owner in the auto industry is looking to expand their enterprise, prompt access to automotive business financing in the form of direct capital is essential. Automotive business financing helps existing businesses grow to their full potential and pursue new opportunity. Traditional banks make it difficult for small business owners to get the liquid cash they need. They require extensive documentation and valuable time spent at a bank location. Because of this, approval processes can drag over a month. Additionally, banks will reject applicants because of bad credit or high-risk loan designations, and even if they do approve funding banks demand personal guarantees of collateral. Why wait for an auto business loan that puts your property on the line in the case of a default?
Prompt Capital Funding aims to address these gaps in the automotive industry. We are a broker that works with direct lenders and not a traditional bank; therefore, we can approve automotive business funding requests even if you have a bad credit score and require no personal guarantees of collateral. We do business over the phone and with live chat available on this page, so you can obtain funding from your home or office. We offer an unsecured loan alternative called a merchant cash advance that can be available for use in as little as 48 hours. Paying wages, procuring equipment and parts or expanding work space are only some of the ways a merchant cash advance can assist with your business growth. With zero restrictions on how you use the funds we provide, it is up to you, the small business owner, to choose how to allocate your financing. We enable cash flow growth without hampering existing dynamics. It’s your business; you know how to run it best.
By choosing Prompt Capital Funding as your alternative funder, you’re not just getting affordable capital, you’re building a long-term relationship for financial success. We believe in 100% transparency and will explain everything about your plan, down to the fixed terms and automated payments. The application is free and simple, so you’ve got nothing to lose! Prompt Capital Funding’s in-house underwriting team makes the qualification process fast, not to mention customized. No two businesses are the same so why should your financing plans be? With our boutique funding style, you can get a personalized plan tailored to fit your business’s unique needs and growth goals. Because we are staffed with an experienced in-house team, we’re able to offer flexible options and live price changes to companies that don’t qualify for traditional bank loans.
Renovate Your Garage Shop
In the automotive repair industry, your shop is everything. It's where you make your money. Use the cash to rebuild your shop so you can keep rebuilding engines.
Funds For Payroll Needs
You can also use the funds to meet your payroll needs of your auto technicians This is one common use that many of our clients need funding for.
Hire Auto Technicians
Hire another mechanic for the increase workload your auto repair shop is experiencing. Or some auto toechnicians to help get the job done.
Upgrade Shop Equipment
With every car bay in your shop, you need almost a whole new set of tools and possibly machinery to keep the effeciency going. If one mechanic is using a machine and the other is waiting, thats time and money lost.
Open Another Auto Shop Site
When business is good and you have a lot of cars coming in for repair, maybe its time to open up another shop. You can use funds to expand and grow your auto repair shop to meet your clients needs.
Use Funds For Anything
When getting funds from Prompt Capital Funding, you choose how to allocate the aquired funds that's best for you and your company. We just provide you with the means to do whats necessary through funding.