Pay for Employee Training
Train new hires and implement a safety program to comply with OSHA requirements.
How an Auto Repair Business Loan Can Help You
To keep cars running and drivers on the road, your auto repair shop needs to have equipment and tools that are in good working order. You’ll also need knowledgeable staff with the necessary training to help keep your day-to-day operations running. To grow your auto repair business or cover unexpected costs, you may need extra funds. An auto shop business loan can help you get the cash you need to keep your shop running smoothly and customers happy.
Invest in New Technology
Upgrade your diagnosing systems and customer management software.
Replace Worn Equipment
Make your shop more efficient with new equipment, tools, and machines.
Cover Regular Expenses
Receive working capital to cover monthly rent or pay taxes.
How to Apply
How does an auto shop business loan work? Applying for an auto repair industry loan has never been easier.
Apply
Submit your application securely in minutes.
Connect
We’ll discuss the right
financing option for you.
Fund
Receive financing and start
growing your business.
Why SpringFi
With over a combined two decades of experience helping auto repair shop owners secure funding, SpringFi can help you get financing for your shop. While traditional lenders often require a lengthy application process for auto shop financing, we have a simple online application. The quick application means it’s possible for you to get the loan you need quickly and get back to helping drivers repair their vehicles.
Auto Repair and Body Shop Business Resources
An Auto Repair and Body Shop business loan is an investment in the growth of your company — but securing financing is only a fraction of what it takes to manage your finances. We’ve put together a list of resources to give you the whole story on loans, taxes, and managing the financial health of your company.
Quick solution with minimal documentation.
They are based off of your business cash flow without the needs of any asserts or collateral. having a low credit score or tax susses is not a deal breaker.
What Clients Say About Us
Frequently asked questions
If you have a query regarding a loan then we are here to your help you can arise your query also.
There are no restrictions on the usage of your funds. Once you’ve received funding, you can use it as you see fit.
The first step to receiving funding is filling out our online application. Once filled out, we’ll get in touch with you to discuss your financing options. Depending on your business needs, you may be eligible to receive funding with the documentation provided in your application. In the case a financing option requires additional documentation, we’ll let you know. Once you’re approved, you can expect financing in as little as 24-48 hours.
Bad credit isn’t normally a deal breaker. Your financing options are based on business cash flow. If your business receives over $5,000 in gross deposits, we encourage you to apply.
Once your application and bank statements are submitted, it only takes 4-10 hours to receive a decision from underwriting. If you accept the offer, we can have the funds in your account in as little as 24 hours.
We can typically finance anywhere from 100% to 200% of your average monthly gross deposits.
Once approved, you’ll receive funding in a few hours. Normally we can fund within 24 hours of receiving the application and banking statements.
There are no penalties for early payment. In some cases, we offer discounts for paying your loan off early.
Yes, we can consolidate existing loans into one note. And we can also fund advances while having existing ones without paying them off. There are options.
Fill out our online application or contact us directly, and one of our representatives will be happy to assist you. Feel free to call us at (347) -778-5195