Garages & Body Shops across the Country Gain from Auto Repair Shop Loans

Not every industry has a high basic cost of establishment. To own a full-service garage, body shop or any other sort of auto repair shop, a bigger capital almost always translates to better services and more, higher paying customers. Once established, an auto repair shop also has significant ongoing expenses and one-off maintenance needs that can run into huge figures in terms of money. Auto Repair Shop Loans are tailor-made to fulfil needs of exactly these natures.

At Business Advance Lenders, we have understood the different nuances of multiple types of businesses that we have dedicated services for and when you apply for a loan that matches your work organization, it helps us understand better, how to work with you for the best mutual deal.

We provide both – garage financing and body shop financing. If your service lies outside of these, we shall still welcome your application and what’s even better is that many times, shop owners use their loans on their personal professional development too – so the money can also be used for skill development and similar purposes.

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Garage Financing, Body Shop Financing and Other Auto Repair Service Financing Options

As just mentioned above, we cater to multiple needs of multiple types of Auto Repair Shops. We receive the maximum traffic for garage financing and body shop financing. However, we are aware that auto repair is an industry that is a necessity in today’s scenario and that helps us understand that the risk in the industry now, is inherently lower than before.

Data from IBISWorld indicates the industry to be worth $66bn in 2020. This coupled with a sustained growth despite challenges, denotes that a lot of shops would be undergoing upgrades, maintenance, renovations, hiring, and a lot other tasks that may call for added cash to maintain liquidity. Liquidity being the essence of business, can never be de-prioritized. This is when a business advance loan for auto repair shops, tends to be a great deal.

Loans for Auto Repair Shops despite Bad Credit

When a typical business loan is unattainable due to poor credit history, businesses look no further than lender loans that cater to bad credit score holders. With a team of strong market analysts, it is safe for us to state that the stability of Auto Repair Shops in general, helps us provide competitive offers to business in the industry, when you apply for a loan for auto repair shops despite bad credit.

We approve auto repair shop loans for bad credit by verifying the company’s potential to surely pay back the borrowed sum plus the charges on it.

What is required to apply for a Business Advance Loans for Auto Repair Shops?

As you would find also on the loan application page, a business advance loan for auto repair shops can be applied for, providing us these:

  • Purpose behind getting an online business loan
  • How much money you need to borrow
  • Age of your business
  • Business Federal Tax ID / EIN
  • Bank statement (recent 3 months)
  • Business credit card transaction processing statement (recent 3 months)
  • Lease agreement

Do note that these are advances dedicated to Small Business owners and are ideally applied for in situation where subsidized options are unavailable to the business due to various reasons.

Finance your Garage, an Upgrade or a Skill Development Program

At Business Advance Lenders, we do not mandate a verification of expenses made while utilizing the funds borrowed. Whether your business utilizes the loan to finance your garage, to increase your own or the team’s skill levels, takes better insurance policies for the place or the staff or whether a new branch is opened, the choice of what to use the loan amount on, is ultimately the discretion of the borrower, though in the interest of your company’s well-being, we would always advice to take a loan aimed to get more returns directly or indirectly in the short or long term.

Apply for Auto Repair Shop Loans up to $2M

An Auto Repair Shop Loan can be a great help at a time of need, during expansion/renovation or even during the younger phases of a rather fresh set-up! If you would like to start the process, the application is fairly simple and is available here. You can jump right in and start the process now!