Auto Repair Shop Loans

A passion for cars and trucks might not be enough to succeed in the competitive auto repair and parts market.

Auto repair technicians are a hardy group who don’t mind a little dirt under their fingernails or a few oil stains on their shirts; in fact, they wear these signs of a day’s hard work with pride. But the people holding the tools aren’t the only thing that’s tough about this business — finding qualified labor, purchasing or repairing expensive equipment, and competing with big chain outlets can be daunting.

Automotive businesses can be very competitive. Regardless of whether you specialize in transmissions, brakes, bodywork, customization, wheels/tires, washes or general auto repair, it’s important you have access to quick and flexible funding when you need it.

What it takes to win customers

We know what it takes to succeed in the car industry. Getting vehicle owners to pull into the lot is only the beginning. Being able to fix your customers’ problem or provide that needed part quickly is essential to customer retention. Being able to stick to estimates and timetables is important for building trust. Differentiating yourself from competitors and establishing a positive reputation are also vital. Depending on how much competition there is around your location there may not be much margin for error.

Access to funding

The hard-working business owners who operate auto repair and parts businesses have a specific set of business requirements. Some need working capital to keep the business going while others want funds to invest in things like a new location, inventory or equipment. Smart business owners understand the need for consistent, reliable funds, and how important it is to have a professional financing partnership.

Typically, auto repair shop loan used for:

• Buying Inventory
• Expanding current space
• Opening additional location
• Marketing and Advertising
• Adding employees
• Investing in new equipment
• Working Capital