Auto Industry Working Capital Loans

working capital loansAuto Industry Working Capital Loans Business Loans with traditional lenders are difficult for business owners to get the funds you need. The US Treasury department reports rejection rates have been roughly above 80% over the past several years with both the SBA and banks. The application process is very cumbersome. It can take 4 to 8 weeks, including a large amount of paperwork, and then you could still get a denial. Additionally banks will reject applicants because of bad credit. If they do approve funding, they are going to want personal guarantees of collateral. The fact is most automotive businesses won’t qualify.

Click below to see different industries, business strategies, and how to get started.

automotive working capital loans

Automotive industry growing

Americans are holding onto their vehicles longer and driving them farther. The average age of vehicles on the road is near a historic high of around 10 years, according to General Motors North America president Alan Batey. That’s creating plenty of opportunities for auto repair and maintenance shops to re-invest in that could lead to better products or service.

Automotive stores and shops need to offer new services, invest in modern equipment, and hire skill workers to keep up with technological advancement of this industry. This is creating the need for an automotive business to increase their working capital.

Auto Industry Working Capital Loans – Capital without the hassle

Automotive Industry working capital loansAutomotive Industry working capital loans with an alternative lender is the quickest way to secure funds for your business. We focus on the actual business performance that can be reviewed with a few months of bank statements. This allows us to be flexible on credit history checks and avoid the unlimited documents connected to your approval. We offer funding from $5000 to $500,000. The actual rate and term is dependent on the performance of the business.

The amount capital that can be borrowed is dependent on the monthly deposits. There is very little paperwork involved this is the main reason why the application process is so quick. We aim to help you keep your business going and growing. There is not a single bank in the country that can approach the efficiency and speed of what an alternative lender can do for you.

Click below to see different industries, business strategies, and how to get started.