Use A Merchant Cash Advance To Upgrade Technology At Your Automotive Shop

Are you an automotive business owner who wants to upgrade technology to remain competitive? While traditional funding sources such as banks may put up some challenges to business funding, an automotive business cash advance can provide you with the financing you need to grow and future-proof your business.

 

Drawbacks Of Traditional Money Lending Solutions

Smart technology is increasingly being used to deliver more efficient and accurate auto repair services. To invest in the latest technology, automotive business owners need access to convenient funding. However, traditional money lending sources such as banks consider the automotive industry to be high-risk and are reluctant to fund it. Other factors such as stringent approval requirements and lengthy loan approval processes make bank loans an unattractive option to many automotive business owners. 

Advantages Of Merchant Cash Advance 

An automotive business cash advance is a quick and easy alternative funding solution. If you are the owner of an existing automotive business and can prove that your business has been experiencing substantial incoming revenues in the past few months, you may qualify for a cash advance. The application process for a cash advance is fairly simple and can be completed online within a matter of minutes. If you qualify, a funding company can approve your request within hours and transfer the requested amount to your business bank account within days.

 

Paying Back A Cash Advance

The company offering merchant cash advance for automotive businesses will want your commitment to remit a percentage of future receivables in exchange for the upfront amount credited to your business bank account. Depending on the terms of the contract, you may have to make repayments on a daily, weekly, or monthly basis. Since remittance includes a percentage of future receivables, you have the flexibility to pace repayments. You may use the automotive business cash advance for any purpose including investing in the latest technology, purchasing inventory, meeting payroll commitments, etc.

Want to discover if you qualify for a cash advance? Just fill in an easy online application form!