Fast Auto Repair Shop Funding You Can Trust
Auto Repair Shop Funding
Auto repair shops are a vital part of the automotive industry. Traditional lenders like banks often consider auto repair shops a high-risk industry due to the fact that auto repair shops often have a higher rate of default on their loans. While you’re waiting for funding, your customers may suffer and valuable opportunities for growth can be lost.
Biz Growers alternative lenders, can approve more auto repair shop funding than traditional lenders, and we can approve funding faster, with funds deposited in as little as one business day. We provide multiple types of auto repair shop funding to help grow your business, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all auto repair shops, including auto body repair shops, collision repair, garages, and car care centers.
How To Use Auto Repair Shop Funding
There are no restrictions in place on how you can use your funds. Auto repair shop funding is ideal for supporting your company’s revenue, furthering your commitment to your clients, and helping more people. Use your funding to:
- Renovate or expand your shop space to accommodate for growing demand
- Purchase necessary equipment and inventory
- Hire and train mechanics to provide high-quality repairs
- Purchase software that assists automotive technicians with car repair procedures and office tasks
- Hire new employees, such as service advisors, lead mechanics, or customer service representatives
- Obtain proper state licenses and permits
- Develop an online booking system for your services that can be accessed at any time
- Invest in marketing and advertising to bring in more customers
Sometimes, auto repair shops need a quick infusion of working capital to help meet the unique challenges of their field, such as:
- Coverage for unexpected expenses from supply chain delays
- Managing cash flow and payroll
- Seasonal fluctuations
- High cost of automotive equipment