Auto Shop Funding

Challenges for Auto Shops

As many consumers try to stretch the lives of their vehicles, there is an opportunity for auto shop owners to build their businesses. However, there are always unexpected challenges, like losing business when car owners try to make their own repairs or increased competition in your area. To stay competitive, you may want to expand or buy new equipment to offer more comprehensive services to your customers.

Finding Funding

You need access to working capital to meet these challenges and capitalize on opportunities, but securing loans from banks can be difficult. If your business is smaller, or you’ve had credit issues in the past, you may be turned away. Even if you qualify, it can take up to several months to get the cash you need now.

Working Capital from iBusiness

Working capital from iBusiness is different. We evaluate your application based on your real-world business data, not on just personal FICO scores, and make a decision in less than 24 hours. If you are approved, you can get up to $250k deposited directly into your business account in 72 hours or less. How do you pay it back? We work with you to find the correct product that will be automatically deducted from your business bank account. How do you pay it back? We work with you to pinpoint a small repayment amount – a percentage of your daily sales – that is automatically deducted from your merchant account. If sales slow temporarily, so will your repayments, so you can always operate your business comfortably.

Advancing Your Business

What can you use your funding for? It’s up to you, but auto shop owners have used their working capital for:

• Meeting payroll.
• Hiring new staff.
• Growing your business through advertising.
• Buying new equipment.
• Opening another location.

How do you know if you qualify? Most businesses that have been around for at least six months and have a monthly revenue $10,000 or more can get funding from iBusiness. Don’t wait any longer – click the “get started now” button or call us at 855-462-4249.