Auto repair shop: what can be presented to lenders?
A mechanic, body shop or tire shop is presented from what the shop actually takes in, tire seasons included. The lender decides, in its written offer.
Choose my amountThe answers
- Can I finance a lift, an alignment machine or a scan tool?
- Yes, as equipment financing: the lender finances based on the equipment’s price and value, and on your file. A supplier quote is asked for before the file is presented.
- My parts bill arrives before the customer pays: what fits?
- A working-capital advance sized on your deposits. The lender reads how card and insurer payments come in, and sets the amount in its written offer.
- Can I finance another bay or a move to a bigger shop?
- The work itself is presented as a working-capital need; the equipment that goes into it can be presented on its own. No real-estate collateral is required; the lender may ask for a personal guarantee or security on business assets.
- Does seasonal tire work help or hurt the file?
- Neither on its own. The lender reads the whole period and expects the tire-season peaks; what counts is what the quiet months look like.
What the lender looks at
- Actual deposits, month by month
- Card settlements, insurer payments and cash, as they land in the account.
- Trend over the period
- A shop whose deposits climb after new equipment supports a larger file.
- NSF cheques
- A cheque returned to a parts supplier shows in the statements.
- Payments to other lenders
- Equipment already financed elsewhere counts as a commitment.
$0 upfront · 7% only if funded
An intermediary, not a lender.
The lender sets the final amount and its cost in its written offer.
Choose my amount