Apply Online in Minutes
Enter basic business information on our 100% online application.
Auto Repair Business Financing.
Let us be your teammate in getting your auto repair shop on the road to success.
Auto repair shop business loans.
To keep your auto repair business thriving, it's essential to maintain a full garage and a consistent stream of revenue. However, this isn't always guaranteed. Revenue can decline due to weather changes or when customers postpone necessary repairs and services. An auto repair business loan can help bridge these cash-flow gaps. Additionally, the loan can be used to cover mechanic payroll, launch a marketing campaign, and purchase auto parts, tires, and other essential inventory for your auto repair shop.
Through Huddle Business Capital, you can choose from unsecured (collateral-free) working capital loans, collateralized working capital loans, and business term loans. If you have questions about these loan options for your auto repair business, our team is here to help.
- Working capital loans from $5,000 to $4 million
- Collateralized working capital loans from $20,000 to $250,000
- Business term loans from $25,000 to $500,000
Auto repair shop equipment financing.
The equipment needed to operate your auto repair business is capital intensive. Hydraulic lifts, tire changing machines, diagnostic tools, wheel alignment tools, brake lathes, air compressors, and battery chargers all come with high price tags. If you need to purchase new or upgraded equipment for your auto repair shop, equipment financing—also known as an equipment loan—is a popular option worth considering.
This type of financing does not require a large initial cash outlay, which helps preserve your cash flow. It allows you to obtain the necessary funds to purchase the equipment and make predictable payments over a set period. Once you complete your payment schedule, you will own the auto repair equipment.
- Application-only up to $300,000
- 12-72 month repayment terms
- Fixed-rate throughout term
- Up to 100% financing
Auto repair shop equipment leasing.
If you want to acquire equipment for your auto repair shop with predictable monthly payments, no high upfront cost, and no ownership obligations, equipment leasing is a good choice. When you lease auto repair equipment, you enter a lease agreement that allows you to use the equipment for a set term.
Once you fulfill the payments in your lease agreement, you can either return the equipment, renew the lease, lease a newer equipment model, or buy the equipment outright. Leasing auto repair equipment makes sense if you need one or more pieces of equipment for a short time or if you do not have enough capital to buy the equipment.
- Application-only up to $300,000
- 12-72 month repayment terms
- Fixed-rate throughout term
- Up to 100% financing
Business line of credit for auto repair shop.
The need for capital can arise at any time in your auto repair business. For example, you might need to cover mechanic payroll, pay rent and utilities, fix malfunctioning equipment, or stock up on car and truck parts, batteries, and tires. An auto repair business line of credit allows you to access the necessary funds for these and many other business needs whenever you require them, up to a predetermined limit.
A revolving business line of credit offers you flexibility and convenience. You can access funds as needed and only be required to repay what you draw, plus interest.
- $20,000 to $250,000 credit lines
- Repay daily, weekly, or monthly
- Only repay what you draw, plus interest
