Merchant Cash Advances are an excellent alternative for mechanics and auto repair businesses to finance their day-to-day operational costs and also to allow for growth and potential business opportunities.  

Being a mechanic entails so much more than one may think. Whether you’re doing auto body repairs, engine or transmission work, brakes and alignments, mufflers and front-end work, oil changes and tune-ups, or all of the above, there is never a shortage of repairs that need to be done.

With an MCA to give some funding support and extra resources to prepare for next steps, your auto repair shop can thrive with access to working capital allowing you to stay focused on what you do best, running the shop.


Technology Upgrades

When owning a repair/mechanic shop, there is a large aspect of needing to stay technologically advanced in your field. This is crucial because it can determine whether or not you have a steady stream of customers.  For instance, with cars becoming increasingly computerized, it’s vital that you stay up-to-date with a highly advanced diagnostics system. You may need to purchase one large diagnostic machine for your shop, or you may need to purchase multiple smaller devices for each of your mechanics, in order to prevent a backlog of mechanics waiting to use one machine.  In the case of increasing regulation, such as in Massachusetts, you may need to purchase an entirely new machine to continue to do vehicle inspections. Whatever your shops’ needs are, a Merchant Cash Advance can help you get the cash to purchase new equipment.  


Renovations are a great use of Merchant Cash Advance for Auto Repair Businesses

Maybe you have been at your current location for several years, but your business has grown and it’s time to expand to a larger location or maybe purchase a second or third site.  Qualifying for an MCA can help you get the funds to grow into new locations. By providing you with a source of funding, your Merchant Cash Advance can help you meet the needs of your customers.

You also may want to consider a renovation of your current location.  By providing new television sets, furniture and other decors that provide a pleasant waiting room experience, customers will be more comfortable waiting for car repairs. This goes a very long way of getting word of mouth referrals. An MCA can help by providing you a lump sum of cash to help with the costs of renovations, which will ultimately lead to new customers.

How a Merchant Cash Advance Works for Auto Repair Shops

The way an MCA works is that you receive a lump sum of funds based on the expected future sales transactions from your business.  MCAs are repaid as a fixed withdrawal, daily or weekly, based on your auto repair shop’s expected earnings. Rose Capital Funding’s auto repair shop funding experts will work with you through the entire process to assist you in understanding and preparing your Merchant Cash Advance.

Why Choose MCA over Traditional Funding Options?

Merchant Cash Advance is a favorable alternative to traditional bank funding options because an MCA will put cash in your hand within a matter of days not months.  There is no lengthy process with hoops to jump through and red tape which gets you back in the shop and managing your business. A Merchant Cash Advance with Rose Capital Funding requires only a short, 8 – 10 minute, online form, speaking with a funding specialist, and 4 months of business banking statements. Depending on the complexity of your business, you can get funded in as little as 24 hours.

With a traditional bank, the time adds up fast, from the lengthy visit to a local branch, filling out numerous forms and multiple rounds of documents detailing your business financials, potentially involving your CPA, it can be frustrating. In contrast, an MCA through Rose Capital is a much more streamlined process.

Funding decisions are determined by future earnings from your business.

Traditional banks determine whether your auto repair shop will receive funding based on credit score, significant credit history, and often they will require collateral, for the business to obtain the necessary cash to help run and grow the business.

MCAs, on the other hand, are easy to apply for with enough information from a single online application and four months of business bank statements.  When Rose Capital Funding is determining eligibility for an MCA, we look at multiple factors that affect the future growth of your auto repair shop. We feel it is important to listen closely to your vision and get the WHOLE story prior to making a decision.

Partner with a trusted organization!

Plan ahead by reaching out to one of our team members today. Partner with a trusted organization that will jump in to support you should circumstances arise. Whether the money is used to pay unexpected expenses, or expanding the business, a MCA will provide you with the funding you need to keep your auto repair shop running smoothly and efficiently.  Reach out to one of our funding specialists to see if you’re eligible for a MCA. Rose Capital Funding is here for you and ready to help you grow your business.


Questions about funding for your business?

A member of our team is here to help you grow your business. Call us at 844-526-2251 or submit a contact form and we’ll get back to you within 24 hours.