If you own a small automotive business or an auto repair shop and often find yourself in need of automotive business funding with quick turnaround time, then the importance of alternative finance doesn’t need explaining to you.
Whether you need capital to purchase a truck or machinery for your business or working capital to cover your critical expenses, alternative automotive business funding is a tried and tested method to secure funding in a short time. If you are still skeptical about alternative automotive business financing, then here are our top 3 reasons to help you think again and make an informed decision.
Automotive business funding – why your business needs it
FAST ACCESS TO MONEY – You know how important it is to have working capital in any automotive business – the parts, the equipment and utilities, and salaries are expensive and must be paid for regularly even when customers stay away! But when you have bad credit, then it is difficult for you to get money from the traditional lenders to tide over low-revenue times. In such a scenario, alternative finance is the best option for you to gain quick access to some cash.
USE IT TO GROW YOUR BUSINESS – The need for professional automotive repair shops has increased exponentially over the past few years. To stay on top of the game, you need to invest in skilled labor, technologies, and equipment constantly. Alternative financing is the perfect way to get quick cash and take your business to a new level.
FLEXIBLE AND HASSLE-FREE – Alternative financing or unsecured business lending have short payment structures, unlike traditional funding. They are also available in many flavors. From short-term, simple offers of less than $5000 to large, secured financing deals of over $200,000 – you can find exactly what you need in the terms that suit you best.
Securing an automotive business funding is not so difficult. There are automotive business lending companies that usually provide the money in less than 3 days from the time you submit the application. However, do remember the amount you receive depends on different factors, including your business’s performance, your personal and business credit scores, business plan, etc. The best way to find out what you are eligible for is by filling an application.