MOT garage business loans have been more difficult to source as high street banks have been less willing to lend over the past few years. Essential cash may be required for a number of reasons such as;
The team at United Kapital has worked with many MOT garages and vehicle centres across the UK including in Birmingham, London and Manchester, supplying flexible alternatives to traditional business loans.
With high approval rates and flexible repayments, the alternative MOT garage business loan works by offering an advance on the future credit and debit card transactions which your business processes from your customers.
The advance is then repaid using a fixed percentage of these future transactions every time your customers pay you on their credit or debit card, until the full amount is settled. This makes it an excellent alternative to traditional rigid bank loans, which usually have strict repayment terms and late payment fees.
The amount you are advanced depends on your monthly card payment volumes but could be anywhere between £3,500 and up to £150,000. This valuable finance could be used for essential business plans for your garage. It also provides your business with the power to negotiate bulk orders with suppliers which is a very beneficial position to be in, especially in the current economic climate.
