Auto Repair Businesses Choose Principis Capital for Their Financing
It’s hard enough to diagnose an engine problem based on a customer’s impression of a rattle. You shouldn’t have to worry about where the capital your business needs is going to come from too. But going through the approval process for a small business loans from a bank means you might get stuck in the slow lane. Maybe you’ve applied for a small business loan and been turned down, or you can’t afford to wait the weeks and weeks a bank loan would take to get you the capital you need. A merchant cash advance from Principis Capital offers a better way:
It’s Our Money – There’s No ‘Middle-man’
When you get an answer from us, you know it’s valid and that the funds will arrive in a short period of time.
Fast and Simple
Most of our garages receive a pre-qualification from us within 24 hours of submitting the 1-page application, and actually receive the money in their business bank account within 7 days. The process for obtaining a traditional small business loan from a bank could take several months. Learn how our cash advance underwriting process works!
Minimum Documentation and No Collateral Required
We are not a bank, so we don’t require a lot of documentation. For example, unlike for traditional bank loans, you do not have to provide tax returns, financial statements, or physical collateral in order to obtain a business cash advance. We have a simple one-page application and only require 4 months of credit card processing statements and 2 months of bank statements.
Personal Credit Isn’t a Problem
We take many factors into consideration through our proprietary underwriting process, and we have funded thousands of merchants who have credit scores of under 500. Business loans often require a minimum FICO or credit score. Read how you can qualify for our business cash advance.
No Fixed Payment Schedules
It is a business cash advance where we get paid back over time as your credit card sales come in. If your business slows, our payback also slows down. There are no fixed payments scheduled and no amortization schedules to deal with. Learn how our business cash advances work.
What Principis Capital Can Do for Your Garage
Any small business owner knows that it costs money to make money, and that goes double for auto repair. On top of all the normal costs of doing business, you also have to be prepared for unexpected needs. One problem with a traditional bank loan is its inflexibility. When applying for a loan you may have to outline exactly how you intend to spend it, and banks’ strict payment deadlines don’t allow you to hold on to capital for uses you can’t anticipate. Here are just a few things you can use one of Principis Capital’s small business loan alternatives for:
- Spare parts
- Diagnostic equipment
- Insurance payments
- Expanding your advertising
- Buying out a partner
- Repairs, renovations, and expansion
- Opening a new location
- Any other needs
What Small Business Owners Are Saying About Us
I needed money for cash flow and paying property taxes. Getting my advance was no hassle, just a phone call and it’s done.
You are the best! You have saved my business and once I am again in good shape, I will remember that it was you who put me there!
I am the owner of two stores in San Francisco dealing in the sale of table linen, bedding, antiques, and Chinese artifacts, all imported from mainland China. I’ve been in business for over 25 years at the same locations. Principis Capital helped us when we needed fast financing; we had our money within 10 days! I was also surprised how fast I was able to rollover the financing, the process was done within one to two days at most.Mr. Joanel Albert, Director of Renewals, has helped us a great deal. Questions and answers were explained immediately. He has helped us a great deal, and that is one of the reasons we will be staying with Principis Capital.