How would you like to own a business whose services are always in demand and whose cash flow is immediate and large? An auto repair business is one option that fits this description beautifully.
Auto Repair Shop Owners Can Get Wealthy
Auto repair shops rarely lack customers. Think of how many times a year you bring your car or truck to the shop. Because of a constant flow of customers and the high margins receive for repair and maintenance work, an owner of an auto shop can amass a small fortune. The only real downside is the possibility of needing an infusion of working capital to start such a business or purchase new tools and equipment.
Financing Options for Auto Repair Shop Businesses
Of course, banks and credit unions are often consulted when capital is needed for an automotive business, but these financing options are far too often denied. Fortunately, other funding solutions abound.
One solution might be the Small Business Association. This government agency offers many loans to small- and medium-sized businesses including automotive repair shops.
Another savvy option is to look at alternative lenders. These are financing agents and private lending firms that offer a variety of solutions, one of which might fit your situation like a hand in a glove. Alternative lenders often provide the following benefits for their customers:
The application process is simple and non-intrusive, especially compared to those of traditional banks.
You will find that a decision to lend is made fast and your funding arrives quickly, again in contrast to many people’s experience with traditional banks.
Your credit score is not as critical as you may originally believe, making the likelihood quite good that you’ll receive funding.
Private Client Capital Partners Can Help
Private Client Capital is happy to offer a full spectrum of funding options for those in the automotive repair arena. Give them a call and explore your options.