BUSINESS FUNDING FOR AUTOMOTIVE BUSINESSES
May 31st 2010 at 10:32pm Published by firstdownadmin
Keeping an automotive repair business running smoothly sometimes requires more funding than you have available. The nature of your business requires you to have enough cash to stock the right parts, equipment and supplies, which are essential in providing excellent, timely service to your customers.
Like a car, your automotive repair business needs just the right product to make it run smoothly. Your ideal solution is funding that is quick and does not demand collateral, excellent credit, or put your success at risk if you experience a temporary slump in business.
What are the best business funding options for auto repair shops?
- Merchant cash advance. A merchant cash advance is a one-time funding that you repay using a percentage of your daily sales.
- Equipment financing.
- Invoice factoring.
- SBA funding.
- Business line of credit.
- General purpose business funding.