Our Financing Options at Neal Business Funding
- We are the experts in small business financing for Auto Repair and Body Shops, so you will get personal service from the application process right through to funding your loan. Our lenders at Neal Business Funding can get funding from $5K to several million dollars, with both short term funding and longer-term loans. When you contact us, you’ll get full, comprehensive details about what our loans contains and what they can do for you. For any aspiring mechanic who wishes to begin working for themselves or an existing shop that wants to buy new equipment to replace old or expand the business, these auto repair shop loans will be able to take care of all the financial details and help you begin your entrepreneurial dream.
Merchant Cash Advance Loans – Our cash advances don’t require you to have excellent credit but you will need to cash flow over $10k per month. Our cash advance program focuses on approving your business loan, which can be funding within 2-3 days and up to $500K. You don’t need tax returns for up to $100K, making it great for emergencies, bulk purchases, and the seasonal ups and downs of cash flow when starting a business.
A business line of credit – With a revolving line of credit, you can become a competitor in your industry. Our credit lines help businesses with an established financial history have access to money. Existing companies can have credit up to $500K . Our interest rates range from 0 to 10%, depending on the line of credit, and no collateral is needed. For start-up businesses, they can receive lines of up to $150K, depending on your financial history.
Equipment Loans – For the significant pieces such as the hydraulic lifts and air compressors, our equipment loans will be able to give you tax advantages, help preserve your credit, help you keep up with new technology, and free your allowance for other parts of your business plan. Some of the equipment we finance includes frame machines, scanning tools, alignment machines, and lifts. We require almost no down payment for our loans, and our base loan prices begin at $25K. With these loans, we offer multiple programs to choose from, including:
- Federal programs: Police stations, fire departments, and school libraries often qualify for our leasing programs. These programs are pretty much guaranteed approval because they’re municipal organizations.
- Sale & Lease-Back programs: Companies with less than strong credit histories that need equipment, we offer sale & leaseback programs, allowing you to make payments until the total auto body shop loans are repaid, thus enabling you to have full ownership of the equipment.
- B, C, and D programs: Companies struggling can also benefit from our B, C, and D programs, which allow you to obtain the equipment you need and make low, ongoing payments on the equipment without the intention of ownership.
SBA Loans – As our most popular option, SBA loans provide more money at longer-term rates, which work great for business expansions and start-up businesses. These loans typically have lower interest rates and can be used for purchasing heavy equipment and machine tools or even real estate. Auto repair shop financing gives you a new way to establish your business. SBA Loans can approve up to $5 million, and are an excellent, secure way to begin or expand any business, no matter if you need auto repair financing or auto body shop loans.
Commercial Real Estate Loans – When beginning or expanding a business, purchasing a piece of property can be daunting. Our commercial real estate loans can help finance or refinance your business. They can be combined with other investments to encompass the full spectrum of what you need to begin your auto repair shop or auto body shop. These loans are also available as an SBA loan.