If you are a new or used car dealer looking for funding to finance an expansion, or simply pay down existing debt, consider a business loan from The Transaction Group’s (TTG’s) banking partners.
Advantages Over Traditional Business Loans
When it comes to loans for existing businesses, including car dealerships, banks and lenders are typically extremely cautious before lending any money. Their loans are based on the business’ assets. If an auto dealership or used car business does not have a specified amount of assets or it carries significant debt, obtaining a loan can be next to impossible.
We fund cash advance style business loans. Our funding is based on your future sales, and repayment is a percentage of your future monthly sales. Unlike traditional loans, there is no fixed repayment schedule, which offers you increased flexibility during months when sales are slow.
Most banks place strict requirements on business loans, including the allocation of funding. With TTG’s banking partners, car dealers are entitled to use the funds for any purpose that they see fit.
Having poor credit can immediately disqualify borrows for business loans. But our banking partners gladly approve funding for business owners with bad credit.
Car Dealership Business Loan Requirements
As long as the owner or principal of the automobile dealership has a credit score greater than 480, we can issue a cash advance business loan.
The gross monthly sales of the business must be greater than $5,000.
The business must be located within the United States, and have been up and running for at least 6 months.
In most cases, approvals and funding are much faster than traditional business loans.
Our streamlined application will also save you time and frustration.
Call us today to learn more at 888-383-8056 or email us at email@example.com. We hope we can help with your dealership financing.