Bad Credit Business FinancingDo you own an automotive repair company? Are you stretching to meet the costs of replacing and maintaining your tools and repair staff? If so, you have probably turned to banks and other traditional lender only to be turned away?
You are not alone, business loans for automotive repair are hard to come by whether your credit is good or if it is bad. But you are also not out of possibilities. Alternatives to taking out an automotive business loan do exist, and offer a new way to fund your company.
Merchant cash advance providers, for example, are often excited to provide automotive repair financing. They want to help get your plans on the open road.
These direct funders offer a product that is very different from an automotive repair loan. Although the advance ultimately serves the same goal of helping you complete and obtain projects.
The short term automotive repair financing can hit your account in as little as 24 hours. It doesn’t matter if your credit is bad and there is no collateral.
You are probably wondering, how does this work?
A cash advance financer provides automotive repair company owners funding based on monthly bank deposits. When such a firm gives you money, they are actually purchasing a portion of your future sales.
This means that after the automotive repair funding hits your account, a percentage of your daily intake will go toward paying back the financier. These small consistent payments will occur until the advance has been repaid in full. This ensures you’re your payments are always in proportion to your earnings, and will not strain your cash flow if you have a slow week.
This is all possible because these funding sources are different from big banks. Bad credit is ok. No collateral is required and no liens will be put on your property. From foundation up, your business can be funded in just a day or two. And there is no fixed repayment term.
To learn more about alternative automotive funding and financing your business with a cash advance visit HorizonBusinessFunding.com.
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