Automotive Business Financing
Fast, flexible funding for auto repair shops, body shops, and automotive service businesses
The financial challenges automotive businesses face every day
Running an auto shop means managing expensive equipment, skilled labor, parts inventory, and unpredictable cash flow. Equipment costs are climbing, the technician shortage is real, and parts prices have surged 20% to 40% in recent years. REIL Capital specializes in funding automotive service businesses.
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All you need to qualify
$20k+
6+
500+
4
Three steps to fund your automotive business
From application to cash in your account, the process is designed for busy shop owners. Apply online in about five minutes, get approved the same day with an 85% approval rate, and receive funding in as fast as 24 to 48 hours.
We finance a variety of industries, including automotive services. Take a look at how our programs support auto shops, body shops, and other businesses in the service sector.
Can't find the answer you need?
Auto Body Shop Financing
Auto body shop financing is crucial for collision repair and paint shops that need capital for gear, facility upgrades, and day-to-day expenses. These shops require specialized equipment like paint booths, frame straightening machines, welding gear, and computerized measuring systems, with costs ranging from $50,000 to $300,000 per bay.
Here's the thing: insurance claim payments often create cash flow issues for body shops. There's typically a 30 to 60 day wait between completing repairs and getting paid by insurance, forcing shops to need working capital to cover parts, labor, and overhead costs during this period.
REIL Capital gets the body shop business model. They offer financing tailored to insurance payment schedules. With options like equipment financing, bridge capital, and working capital lines of credit, they boast 85% approval rates and can fund in just 24 to 48 hours.
Auto Repair Business Loans
Auto repair business loans are a lifeline for independent mechanics and repair shop owners, enabling them to finance equipment acquisitions, facility upgrades, and everyday expenses. In the U.S., the automotive repair sector pulls in over $75 billion each year, with independent shops vying for business against dealership service departments and big national chains. Quite the competitive scene, isn't it?
So, what do auto repair business loans typically cover? They're commonly used for buying lifts, diagnostic scanners, alignment machines, and tire equipment. Got plans to renovate or expand your shop? These loans can help there too. They're also handy for stocking up on parts inventory and managing payroll when business slows down seasonally or when fleet payments are delayed.
Now, here's where REIL Capital steps in. They offer auto repair business loans based on your shop's revenue, so you don't need perfect credit to qualify. Most shop owners qualify if they've been in business for at least 6 months and earn $20K in monthly revenue. And once you're approved, you'll see the funds in your account within 24 to 48 hours. That's quick, isn't it?
Related Financing Resources
A revolving line of credit keeps parts in stock and bays running between customer payments. Explore these resources to learn more:
- Lines of Credit Resources — in-depth guides and strategies
- Merchant Cash Advance Guide — additional insights for your business
- All Financing Products — compare every option available through REIL Capital
