Auto Repair Shop Funding
The automotive repair industry is expected to grow at an annual rate of 3.5% over the next five years. Help grow and maintain a successful auto repair shop with up to $500,0000 in funding from NextGen Capital as fast as 24 hours.
Fast Auto Repair Shop Funding You Can Trust
Auto repair shops play a crucial role in the automotive industry. With ongoing supply chain challenges and limited vehicle availability at dealerships, many consumers are delaying new car purchases—keeping auto repair shops busier than ever.
Despite being recognized as essential to automotive safety by the National Highway Traffic Safety Administration (NHTSA), traditional lenders such as banks often classify auto repair shops as high-risk due to higher loan default rates. This can result in lengthy approval processes that may delay funding, impacting customer service and stalling business growth.
As an alternative lender, NextGen Capital provides faster and more flexible funding solutions than traditional lenders. We offer auto repair shop funding with approvals in as little as one business day, helping you secure capital quickly when you need it most. Our funding ranges from $3,000 to $500,000, with no restrictions on how the funds can be used. We support all types of auto repair businesses, including:
- Auto body repair shops
- Collision repair centers
- General repair garages
- Car care and maintenance centers
NextGen Capital is here to help your auto repair shop grow and thrive with fast, reliable funding.
Auto Repair Shop Funding Solutions
Our friendly, expert Funding Advisors will work with you to determine which funding option will help you achieve your goals without compromising your auto repair shop’s cash flow.
Merchant Cash Advance
You get working capital when you need it. We’ll receive a percentage of your daily or weekly credit card sales until the advance is repaid.
Invoice Factoring
Sell us your pending invoices in exchange for the net amount in cash. You’ll receive the balance of the invoices’ value when we receive payment (minus our fee).
Collateral Loan
A secured loan that uses commercial real estate to reduce risk. Because the loan is secured, you may be approved for larger loan amounts with lower rates and fees.
Business Line of Credit
Borrow as much or as little as you need without the obligation of a fixed term loan. Draw and repay as you go, and only ever pay interest on the amount you've borrowed.
How to Use Auto Repair Shop Funding:
There are no restrictions on how you can use your funds from NextGen Capital. Our auto repair shop funding is designed to support your business’s revenue, strengthen your commitment to clients, and help you serve more customers. You can use your funding to:
- Renovate or expand your shop to accommodate growing demand
- Purchase essential tools, equipment, and inventory
- Hire and train skilled mechanics to ensure high-quality repairs
- Invest in specialized software for automotive diagnostics, repair procedures, and office management
- Expand your team by hiring service advisors, lead mechanics, or customer service representatives
- Obtain necessary state licenses and permits to operate legally and efficiently
- Develop an online booking system to improve customer convenience and accessibility
- Enhance your marketing and advertising efforts to attract more customers
Addressing Industry Challenges with Quick Funding:
Auto repair shops may also require a fast infusion of working capital to navigate industry-specific challenges, such as:
- Covering unexpected expenses due to supply chain disruptions
- Managing cash flow and payroll efficiently
- Handling seasonal fluctuations in demand
- Purchasing costly automotive equipment
With NextGen Capital, you can access the funding you need—quickly and hassle-free—to keep your business running smoothly and seize new growth opportunities.
How Auto Repair Shop Funding Works:
Auto Repair Shop Funding Q&A
Upgrading your technology is a smart way to invest your NextGen Capital funding. Enhancing your shop’s efficiency and productivity can be achieved by:
- Purchasing new equipment or software to diagnose and repair vehicles faster
- Upgrading your security system to protect valuable tools and inventory
Traditional lenders can take weeks or even months to process and approve loan applications. If you need quick access to capital, NextGen Capital offers faster approvals with more flexible requirements. We can provide funding in as little as 24 hours, helping you cover expenses like project costs, daily operations, and more.
There are many ways to utilize your funding, depending on the needs of your business. Common uses include:
- Covering inventory, payroll, and daily operational expenses
- Investing in marketing initiatives to attract new customers
- Purchasing software licenses for better shop management
- Paying for rent, utilities, and maintenance
Consult with one of our NextGen Capital Funding Advisors to maximize the efficiency of your funding and ensure it aligns with your business goals.
You can obtain funding from traditional lenders such as banks or the SBA, as well as from alternative lenders like NextGen Capital. Alternative lenders offer more flexible approval criteria, focusing on the overall financial health and growth potential of your business rather than just your credit score. NextGen Capital also provides revenue-based financing options, such as merchant cash advances, which are ideal for businesses with lower credit scores.
Contact a NextGen Capital Funding Advisor today to explore the best funding options for your auto repair shop!
