In the UK, the automotive industry plays a vital part within the British economy and accounts for more than £82 billion pounds worth of turnover. As one of the largest British industries, and over 34 million cars running on UK roads, there are more than 30 different vehicle manufacturers, with 14 of those dominating the sector. At Elite Business Funding, over the years we have gained extensive experience in working directly with independent SME business owners.
As professional commercial finance brokers, we provide specialist business loans to those in the automotive industry as well as independent garages and MOT service centres. Our experienced relationship managers are aware of the cashflow and working capital challenges that may arise with unexpected expenses; for example, having to pay hefty upfront costs for vehicles and spare parts which may be required.
Business areas we have successfully funded
With years of experience under our belt, we have built up a reputable client base, those of which we have successfully funded with our automotive loans.
- Body repair and vehicle spray shops.
- Used car sale dealerships.
- Car rental companies.
- Car parts and accessories retailers and wholesalers.
- Commercial vehicle finance lease and hire purchase.
Due to the sheer expense and costs associated with vehicles, whether that involves purchasing new parts for repair, or buying the vehicles out right, running a business in the automotive industry isn’t all smooth sailing. It’s inevitable that there are going to be some unexpected costs, and the services we offer at Elite Business Funding can reduce the stress and pressure this may cause.
How our automotive loan options can help you
As experienced business finances brokers, our team can assist with commercial funding options that can be used for any purpose to support the growth of your business;
- Working capital to restock spare parts.
- Purchasing machinery and approved testing equipment.
- Vehicle stocking finance and loans to purchase vehicles.
- Flexible overdraft facilities to boost cashflow when jobs are paid on completion of work carried out.
- Release capital from invoices for insurance work and have up to 90% paid upfront, without having to wait the 30, 60 or 90-day terms.
- Advertising and marketing costs to gain more customers.
- Expansion and opening new sites or shops.
Applying for an Automotive Loan
The application process is simple. All we require from you is a few company details, including your company name, yearly turnover and the amount of funding required. Once you have applied for an automotive loan with Elite Business Funding, we will use our expertise to find the most suitable business funding option for your business.
Choosing Elite Business Funding
No matter the type of finance you’re looking for, Elite Business Funding can help. Our funding options are cost-effective, the funding can be secured within as little as 2 hours and there are no upfront costs which may sometimes occur when sourcing business loans.
If you’re interested in our automotive funding options, get in touch with the professionals today. Submit your details into our contact form and we will get back to you ASAP.