Auto repair shops are a vital part of the automotive industry. With a shortage of cars on dealer lots and with auto plants operating at reduced capacity due to pandemic and supply chain issues, consumers are holding off on buying new vehicles and auto repair shops are busier than ever.
Despite being declared essential to the automotive safety infrastructure by the National Highway Traffic Safety Administration (NHTSA), traditional lenders like banks often consider auto repair shops a high-risk industry due to the fact that auto repair shops often have a higher rate of default on their loans. While you’re waiting for funding, your customers may suffer and valuable opportunities for growth can be lost.
As an alternative lender, Greenbox Capital® can approve more auto repair shop funding than traditional lenders, and we can approve funding faster, with funds deposited in as little as one business day. We provide multiple types of auto repair shop funding to help grow your business, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all auto repair shops, including auto body repair shops, collision repair, garages, and car care centers.