Auto Repair Shop Merchant Cash Advances Beat Most Business Loans
Auto repair shops needing for more operating capital are finding merchant cash advances a quicker and more accessible alternative business financing than bank loans. Auto repair business expansion may include upgrading repair equipment whose price tag means leasing or financing. US Business Finance Corp’s merchant cash advance funding is a proven source for immediate cash to meet repair shop financial needs. Merchant cash advances are a cost-effective option to leasing that both secures your operating capital for your shop while keeping your new equipment free from liens or security interests. Also, no personal guarantee is needed from the repair shop owner – US Business Finance takes on the risk of the advance!
Commercial equipment leasing financial institutions secure your lease with the purchased repair equipment used as collateral. With our merchant cash advance, you use a portion of your future Visa and MasterCard sales to obtain the purchasing funds upfront – no collateral, no personal guarantee, no major changes to your Balance Sheet. Often auto repair shops find the new equipment allows the work flow to go faster, creating more sales that pay off the cash advance well within the usual 6 to 9 month repayment period.
Since your equipment is purchased with a cash advance and not a lease or a loan, there never is a late fee, late payment, fixed payment schedule or interruptive phone calls looking for payment. Since a US Business Finance Corp merchant cash advance is not repaid from your auto repair shop’s cash flow from insurance companies, clients’ cash payments or payments from American Express or Discover credit cards (these payments go 100% to your meet your cash needs) only a percentage of a portion of your income is used to repay the cash advance.
The speed with which US Business Finance Corp responds to your merchant cash advance application means your repair shop can proceed quickly to get new repair equipment, advertising or pay upcoming bills, like quarterly IRS payments, on time. Our rapid approval and cash advance process usually takes less than ten business days. Once your merchant cash advance is approved, the money is transferred directly to your auto repair shop’s bank account.
Contact the merchant cash advance experts at US Business Finance Corp and see how our alternative business financing can assist you in meeting your company’s working capital needs better than traditional loans and commercial equipment leasing options.
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Filed under: Alternative Capital, Business Cash Advance, Money Matters - Business
