Business Financing for Ohio Auto Dealerships

With the high cost of purchasing and carrying inventory, owning and operating a car dealership comes with very unique and specific challenges. Cash flow is needed for your business to operate, but if you are like most car dealer owners, obtaining financing is very challenging. Banks and other traditional lenders rule out loans to small businesses operating in the auto industry. Floor planning is challenging to manage, once you get behind on payments you can lose your inventory quikly. Avoid over-extending yourself on floor line planning and contact Greenbox Capital for safer and affordable funding solutions. 

We proudly offer auto industry-friendly financing to automotive dealers in the US, Canada, and Puerto Rico. Small businesses are no doubt the lifeline of the US economy, and we want to keep them going strong. The key to the health of your business is having the agility to keep up with demands and trends in the economy. The only way to do this is to have access to working capital immediately. As fast as a price change in petrol, so do consumer vehicle choices. Worldwide economic factors also impact the cost of the vehicle inventories. Having cash available when you need it, enables you to focus on your growth and strategy.

Greenbox Capital helps by providing access to cash for your business in as few as 24 hours. Bad credit will not automatically disqualify you for an unsecured merchant cash advance¹ or short-term small business loan². Funding from $5,000 to $250,000 is available to auto dealerships in the form of unsecured loans and business cash advances. Our application process is easy also. As a non-bank alternative lender, Greenbox Capital has the ability to create funding programs that are designed to help you qualify. Our requirements are not overly-strict. Generally, auto dealers may be eligible if they have been in business for at least half a year and can show revenue of a minimum of $7,500 a month for the past 3 months. Bad credit and even personal bankruptcy are not automatic disqualifiers. Our team of small business financing experts consider the grand picture of your business; including your potential for success, revenue and cash flow, all while determining the details of your cash advance.

Access to Capital Helps Ohio Businesses Compete

It is true, cash is tight for small business owners in all industries. However local Ohio car sales businesses face special circumstances. To stay competitive, car dealer owners need to be able to provide customers with services and relationships that set their dealership apart. Even though digital marketing and e-commerce car buying is on the rise, there still has to be a need to the personal service that a local, small auto dealer offers. Plus, you should also profit from the digital car buying revolution!

Make Your Ohio Automotive Dealership Stand Out

  • Offer free at home car delivery
  • Develop your own pre-owned car warranties
  • Offer Buy Here Pay Here financing
  • Add car repair services and offer buyer incentives such as discounted or free oil changes for a year
  • Negotiate a deal with local towing companies and offer free emergency road service
  • Launch a digital marketing campaign

Regardless what strategy for growth and success you have for your dealership, Greenbox Capital aims to offer the right financing solution to boost your business. To make the process as easy as possible, we don’t restrict how you choose to use the funds. That is 100% up to you, but if you would like guidance, we are happy to help. Cover payroll, jump on marketing, or drop prices for a clearance sale; it is all up to you.

Collateral-Backed Financing (asset backed) is an option for lower rates or for companies with less revenue and cash flow. Ask us about collateral-backed financing if your sales volume or credit card receipts are not strong enough for an unsecured merchant cash advance or small business loan. Collateral-backed financing reduces rates.

Special Greenbox Capital Programs

3 Stip Business Cash Advance

  • Requires voided check, driver’s license and bank account verification
  • Up to $30,000 cash advanced
  • In business for 2+ years
  • No NSFs, overdrafts, or negative days
  • No businesses with large lease payments
  • No retail businesses
  • Established business background
  • No negative information found regarding the business or its principals

Escrow Program Merchants can get funded prior to paying off an existing cash advance with another lender

Early Pay-off Program Options to pay off at 30, 60, or 90 days from the date of funding to receive a discount. For every 30 days that the advance is paid early, the merchant can receive a factor rate reduction.

Business Line of Credit Get approved for up to $250,000, but only withdraw funds as needed. Businesses can withdraw less than the full amount they are approved for and continue to access more cash fast, without having to repay 50% of the approved amount, as needed; as long as the business health remains unchanged or improves.

¹ Greenbox Capital Merchant Cash Advances may not be available in all regions of the United States or Canada.
² Greenbox Capital Small Business Loans may not be available in all regions of the United States or Canada.

For a free consultation, please complete our application or contact our Merchant Account Service Team.