Financing Solutions

Financing Solutions for an Auto Repair Business

If you are in the auto repair business and managing your own shop, you would have probably faced situations when you required quick access to some extra funds. This cash in hand would have been imperative for keeping your customers satisfied and helping your business run smoothly and efficiently. A Merchant Cash Advance from companies such as Crest Hill Capital has increasingly become a popular choice as a financing solution especially for auto repair shops, small retail stores and other similar small businesses.

Why is an MCA so Popular?

With a merchant cash advance, you can get some much-needed funds into your business quite quickly. The turnaround time for Crest Hill Capital from applying for the cash advance to the time you receive the amount into your account is between a day to three days. This in itself makes a cash advance an attractive solution for most small businesses. The repayment terms are usually flexible and designed in a way to suit the volumes of sales in your business and the income generated.

What Areas of Your Business can you improve with an MCA?

Your business can benefit in many ways when you get some extra working capital. Crest Hill Capital does not monitor how you spend the advance given by them for your business. A lump-sum is directly deposited into your account with the condition to repay based on the future receivables from your business. Here are some ways you can invest the cash advance in your business:

1. Business Expansion Plans: The lack of funds may have caused you to shelve many project ideas that you might have had for business growth. With a merchant cash advance in hand, you can consider expanding your business by opening another branch of your auto repair shop in a different location. You could also improve and add to the services offered to customers thereby increasing the customer satisfaction quotient. For this you may need to hire extra hands and the advance amount can be used to fulfil your monthly payroll obligations as well.

2. Stay afloat during Lean Business Periods: Seasonal variations in the business are quite common for auto repair shops. There is typically a spike in demand for service during winters when the weather is bad. However, at other times, the business may face lean periods when customers coming in for auto services are few and far between. How can you handle this phase? Do you let employees go at this time and re-hire during the peak business season? This may not be the best way to solve the problem. A cash advance from Crest Hill Capital can help you pay your employees even during low business phases and keep you afloat.

3. Meet Unexpected Business Expenses with Ease: Emergency repairs for machinery and other automotive service equipment can be covered with this extra working capital that you have in your account. Since a merchant cash advance can be processed quickly, it may be the best option available to meet such unexpected business needs.

Check out Crest Hill Capital reviews and fill out your online application for a merchant cash advance right away!