Auto Repair Shop Financing in Provo, UT
Your answer: Auto repair shop financing in Provo covers equipment loans for lifts and diagnostic scanners, working capital for parts inventory, and SBA 7(a) loans for shop purchases.
Your answer: Auto repair shop financing in Provo covers equipment loans for lifts and diagnostic scanners, working capital for parts inventory, and SBA 7(a) loans for shop purchases.
Auto repair businesses carry heavy upfront costs but uneven monthly revenue. Shops near University Avenue see student vehicles that defer maintenance until summer, while diesel specialists in Spanish Fork ride the construction calendar. Most repair shops bill customers after work completes, so parts purchases hit your account before cash arrives. Traditional banks see "high equipment depreciation" and ask for two years of tax returns showing steady profit, which eliminates newer shops or those recovering from a slow quarter. Foothill Lenders works with lenders who underwrite on invoice aging, equipment value, and lease strength instead of only backward-looking financials.
Loan programs
funds lifts, alignment racks, tire changers, and diagnostic computers. The equipment itself secures the loan, so approval hinges on the machine's resale value and your cash flow, not your home equity.
cover parts inventory, payroll between big fleet jobs, and the gap when commercial accounts pay NET-30 but your supplier wants cash. These loans close faster than SBA products because documentation stays lighter and lenders price them for short cycles.
finance shop purchases, build-outs, or buyouts when you're acquiring an existing business on State Street or expanding from a two-bay garage in Mapleton to a six-bay facility near the Provo Airport. The SBA guarantee lets lenders stretch terms to ten or twenty-five years and accept lower down payments than conventional commercial real estate deals require.
turns outstanding repair orders into same-day cash. If you service fleets or municipal vehicles in Orem that pay on 45-day cycles, factoring companies buy those invoices at a discount and collect directly, so you're not waiting for the city finance department to cut a check.
We submit your profile to multiple lenders at once. One might love your ASE certifications and long-term lease; another might focus on your Carfax-affiliated inspection volume. You don't call six banks, repeat your story, and wait for serial rejections. We know which lenders write business auto loans without personal guarantee requirements and which will finance used equipment or fund startup shops that lack two years of returns. Our job is matchmaking, and we get paid by the lender when the loan closes, so the service costs you nothing upfront.
Foothill Lenders sits at 412 W Rivers Edge Dr, Provo, UT 84604, a ten-minute drive from most Utah County repair shops. Call (801) 880-5047 to talk through your situation. We also broker SBA 7(a) loans and equipment financing across every vertical, and we cover Provo and surrounding areas including Vineyard, Lindon, Pleasant Grove, and Springville.
A two-bay transmission specialist on State Street in Orem wanted to lease the adjacent unit and add a third bay. The landlord required a five-year lease commitment, and the shop needed $85,000 for another lift, an upgraded flush machine, and three months of rent while the bay came online. The owner's credit sat at 680, and his bank said no because the business was only eighteen months old. We placed the deal with a lender that counted the signed fleet-maintenance contract with a local HVAC company as future receivables. The loan closed in three weeks. Equipment financed over six years, working capital over three. No personal guarantee required because the lease and the fleet contract provided enough security.
Serving the Provo area
We know which lenders fund which kinds of Provo businesses, and we position your file where it fits.
One local broker, many lenders, and no cost to apply.
Common questions
Talk to a local advisor and get matched to the right program, no obligation.