There are over 800,000 mechanics in the United States and many own their own automotive service business. The automotive industry is a lucrative business model. However, mechanics need working capital constantly to keep their business running. In this article, we will cover the best way to get funds today from a mechanic merchant cash advance.
What is a Mechanic Merchant Cash Advance?
A merchant cash advance is one of the best ways to get working capital cash flow today or tomorrow. A merchant cash advance is a short term business advance that typically is paid back with future credit card transactions of the business.
However, our merchant cash advances don’t look at your credit card receipts, but your overall business revenue. If you earn $5,000 a month from your business then you are 80% closer to qualifying for a same day merchant cash advance.
See, big banks have turned their backs on small businesses in general. If you do try to get a small business loan from a bank, be prepared to put up collateral, have a near-perfect credit score, and then wait weeks or months to receive your loan.
Merchant cash advances are the most popular right now for fast funding because you don’t need what the big banks require. In fact, with our business cash advance, you only need to be in business for six months, have a credit score of 450, and $5,000 a month in revenue. That’s it!
As long as you don’t have loans out somewhere else, too many NSFs or Liens, then you are very likely to get same day funding. An auto shop merchant cash advance can be used for anything that your business requires to stay open.
Why choose a Working Capital Business Cash Advance
There are so many types of auto mechanic shops in America, but the biggest thing in common with all of them is they need working capital to keep running smoothly. Let’s look at some common expenses that mechanics deal with, or what they can use the money for improving their mechanic shop:
One) Higher Quality Staff: One of the most common mistakes that auto repair shops make is having less-than-par mechanics running the show. This is such a common phenomenon in the auto industry that it is a main stereotype on TV shows. You know, the creepy greasy mechanic with the cigarette dangling from his mouth? First thing an auto shop owner needs is quality staff. You can use some of the auto shop merchant cash advance to do a hiring bonus and list a job on Indeed.
Two) Upgrade Equipment: As cars become more advanced, so should the diagnostic equipment be. An Autel Ultra Diagnostic Tablet/Scanner with Advanced VCMI will cost you $4,600, and a new BendPak 4 post 40,000 pound car lift will set you back $28,600. But, getting new equipment could mean the life or death of your business.
Three) Advertising & Marketing: A lot of mechanic shops are hole-in-the-wall places that are only found because of word-of-mouth. If business is slow, you might consider getting listed on some internet directories, like Manta, Yellow Pages, Yelp, Trust Pilot, and the BBB.
Most customers depend on customer reviews before picking a mechanic, I know I do, so it’s crucial to start collecting positive reviews from your customers. Maybe, give them $20 off if they leave a positive review on Yelp after their visit for example.
How to Apply for a Mechanic Merchant Cash Advance
Getting a same day auto shop merchant cash advance is the best thing you can do right now, especially if you have a shop emergency. It only takes 5 minutes to fill out an online form with some basic info to see if you qualify.
Again, the requirements are simple: 6 months in business, 450 credit, and $5,000 a month in revenue the last three months. If accepted, you will see the offer amount and you can decide to accept or decline the offer. This won’t impact your credit score.
If you apply in the morning, Monday through Friday 9pm to 6pm EST, chances are pretty excellent that you will receive your mechanic merchant cash advance by the end of the day.
You can APPLY HERE
Thanks for reading and God Bless you! This is your moment of truth. Your business is meant to be a survivor, and we are very committed to keeping every business open in America.
Learn More About Our Same Day Business Cash Advance
Erik C. Johnson
Independent DAC Agent