MCA Loans for Auto Repair Shops and Service Centers
A Merchant Cash Advance (MCA) offers auto repair shops and service centres a lump-sum payment upfront by leveraging future credit card sales, making it an ideal option for managing cash flow without fixed monthly obligations. Facilities like equipment finance for purchasing new tools illustrate its use case effectively.
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
We Like To Keep Things Simple
to
£500K
zero hidden fees
What are the benefits of MCA loans for Auto Repair Shops and Service Centers?
The flexibility of MCA loans allows repayment variation according to sales, making them a favorable choice for businesses with fluctuating revenue. This finance option eliminates the need for fixed payments and provides rapid access to funds, usually within 24 to 48 hours after approval. Explore our business loan refinancing services for diversified finance solutions.
What are the different types of MCA loans for Auto Repair Shops and Service Centers?
Traditional Merchant Cash Advance
Auto repair shops benefit from amounts ranging from £5,000 to £500,000 with no fixed term. Eligibility requires six months of trade with steady card sales.
Split Funding MCA
This option offers £3,000 to £300,000 without fixed repayment schedules, needing a year of business history and POS system compatibility.
Fixed Percentage with Cap MCA
For established businesses, access £10,000 to £250,000 with 12-18 months term, secure predictable revenue management with a capped repayment structure.
What is an MCA loan for Auto Repair Shops and Service Centers?
Application Process and Approval
The application process for an MCA involves submitting business bank and card processing statements. Our streamlined operations ensure decisions between 1-5 business days, and funds disbursed typically within 24 to 48 hours, providing hassle-free invoice financing solutions.
Regulatory Compliance and Standards
MCA providers in the UK adhere to FCA's rigorous standards, ensuring fair practices towards borrowers. Our in-depth understanding of these regulations guarantees compliant solutions for all clients, making us a trusted partner in commercial mortgages.
Understanding Borrowing Capacity
Borrowing capacities range from £3,000 to £500,000, adjusted based on card sales volume, trade duration, and business profits. Factor rates span from 1.1 to 1.6, influenced by sales consistency. We assist in optimising these variables as shown in our unsecured business loans programs.
