Is
Financing Hindering The Growth Of Your Automotive Business?
Introduction
We
are one of the most trusted small business financing sources for a
variety of large and small business. Our prompt services guarantee
the return of our borrowers from time to time to avail the necessary
working capital. We offer all kinds of business funding to our
clients when they require it, at the most flexible interest rates and
loan terms. Thus, irrespective of whether the business plan is short
term or long term, we have the perfect solution for all.
Our
aim is to provide all, both large and small business to borrow funds
needed to sustain their business requirements with no collateral
involved. We also provide bank loan alternatives at reasonable factor
rate and offer revolving credit to good clients. Our alternative
funding solutions and commercial loans are best in the industry. We
also offer good working capital limits, which is approved instantly.
One
of the best things that our clients have experienced by working with
us is that we do not require our client to have a high credit score
unlike traditional banks that seek a complete credit history.
Bad
Credit OK!
There
are several factors that place an automotive merchant under the
high-risk category. Some of which are:
However,
we do not turn anyone who knocks our doors. We offer systematic
solutions to deal with the above problems and help businesses rise
again. Bad credit OK is what makes us approachable, as we believe
that businesses should grab all opportunities to overcome the
changing economic times. Thus, we work with the agenda to approve
maximum requests in the least possible period.
Business
Funding in the Automotive Industry
The
automotive industry is growing at a fast pace and so are the
financing requirements for this small business. The best option for
automotive industry catering to auto repairs, used car dealership,
car repairs, car wash, auto collision center and auto parts suppliers
at the distributor, wholesaler or retailer level is to go in for MCA
(Merchant Cash Advance). MCA (Merchant Cash Advance) is guaranteed to
kick-start the automotive business in this highly competitive world.
We
understand that the automotive industry is a risky one, which faces
different challenges every time. Thus, we ensure to provide a simple
and hassle-free experience to all customers. We even provide suitable
recommendations that are business specific, for example, increase
working capital, avail credit card factoring, employ skilled and
efficient staff, reorganize the management structure and many more.
MCA
(Merchant Cash Advance) program is unique when compared to a bank
loan. It is not a solution offered by traditional funders or
conventional lenders like banks. We are experts in this field and
accept as many as applications as possible.
How
can MCA (Merchant Cash Advance) be of use in the automotive industry?
If
you are wondering how availing an MCA (Merchant Cash Advance) will
improve your business, then have a look at the following reasons:
Invest
your funds in new equipment needed for your repair shop
Invest
your working capital in tools for efficient operation of the auto
repair or car wash shop
Use
the business funding to hire new staff in the automotive repair
business such as a highly skilled technicians
Use
funds to create and manage new openings or opportunities for the
business by investing in advertising and marketing
Devote
the borrowings in expansion and growth of the business in new
locations
These
are just a few of the recommendations on how you can use your
business funding. Ultimately, the choice is yours and the best way to
decide on how to spend your funds is by planning and charting out the
business needs.
How
to decide between a bank loan and an MCA (Merchant Cash Advance)?
A
bank loan is available for all businesses including automotive
businesses. Features of a bank loan include:
Additionally,
you are required to oblige to certain mandatory eligibility criteria
such as
Well-established
and profitable venture
Operation
dates back to over a year
Steady
income
Consistent
revenue
High
credit score
No
records of past tax lien or bankruptcy
No
high NSF (Non-Sufficient Funds)
MCA
(Merchant Cash Advance) on the other hand is a process by which
business sells a part of its future credit card sales in order to
avail advance cash. Here, funders purchase a small portion of the
impending credit or debit card sales to reclaim the lending amount by
mutually agreeing to a certain percentage of the total credit card
sales the company makes.
Advantages
of MCA (Merchant Cash Advance) include:
No
fixed repayment loan terms
No
collateral assurance
Pay
the borrowing sum as a percentage of daily credit card sales
Flexible
loan terms
Bad
credit OK
High
NSF (Non-Sufficient Funds) acceptable
Maximum
funds that you can borrow will vary between $5 thousand to $500
thousand
Eligibility
criteria will include:
Steady
deposits
Decent
sales history
Business
Funding Terms
MCA
(Merchant Cash Advance) and BCA (Business Cash Advance) financings
provide funds with various low and high-level positions including 1st
position, 2nd position, 3rd position, 4th and 5th position. Based on
the performance, a small business can even seek 6th
position cash advance. 2nd position, 3rd position, 4th and 5th
position cash advances are readily available for automotive
businesses looking to expand in the current or new locations.
Additionally,
our small business financing offers funds in different dominations
based on merchant needs. Our dollar increments for small business
financing and funding are available in amounts such as 5k (5000), 10k
(10000), 15k (15000), 20k (20000), 25k (25000), 30k (30000), 50k
(50000), 75k (75000), 100k (100000), 200k( (200000), 250k (250000)
and 500k (500000).
Conclusion
Thus,
you can approach us for any business funding. Whether you are looking
for bank loan alternatives, unsecured loans, commercial loans or any
other unsecured business loans, our alternative funding solutions
will have provide you with the right funding either in the form of
MCA (Merchant Cash Advance) or BCA (Business Cash Advance) for all
businesses even those with poor credit or high NSF (Not Sufficient
Funds). Rest assured we do not charge any hidden costs. For any
queries or feedback, our customer support is always at your service.
