Financing for auto dealerships
A dealership depends on its lot, its visibility and the inventory it can carry. We help you explore capital to grow or financing to buy the property where you display and sell.
GROW™ — capital for your next stage
GROW™: up to $350,000, up to 10-year terms, no prepayment penalty and no specific personal collateral required.
What owners typically invest in
- Reconditioning and vehicle prep
- Expanding the lot or showroom
- Service department equipment
- Digital marketing and local presence
- Hiring sales and service staff
OWN™ — buy the building where you operate
Location is half the business: the traffic passing your lot does not move with you. Site work, lighting and the showroom are investments that stay with the property. Buying the lot secures your address and your monthly cost for the long term.
What lenders typically review
Lenders usually review how long the business has operated, its cash flow, the owners’ credit and how quickly your vehicle inventory turns. For GROW™, reference guidelines include three or more years in operation, a personal FICO of 650 or above, a minimum SBSS score of 165, personal and business debts current, repayment capacity with a minimum DSCR of 1.25x and no bankruptcy in the last seven years. GROW™ does not require specific personal collateral, though limited business collateral requirements may apply. To buy the property through OWN™, your business must occupy most of the building.
Frequently asked questions
Can I use capital for inventory?
Growth capital can support operating needs, including reconditioning. Floor-plan inventory financing works differently and we review it case by case.
Can I buy the lot I rent today?
In many cases, yes, if your business occupies most of the property. Eligibility depends on the lender and program requirements.
What if my sales swing by season?
The lender evaluates the full year and your repayment capacity, not one month. That is why we gather several periods of financials.
How long does a property purchase take?
The target closing for OWN\u2122 is 45\u201360 days and depends on a complete file and lender approval.
Related uses of capital
Every rent payment builds your landlord's equity. With owner-occupied SBA financing, you can buy the building you rent today and turn that monthly payment into an asset you own.
Learn more
Running out of stock in your best season means losing sales you already had. With working capital you can buy ahead, take advantage of volume discounts and say yes to large orders.
Learn more
A renovated space attracts customers, improves their experience and helps you work better. With working capital you can make those improvements without slowing down daily operations.
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Find out what your business may qualify for
Answer a few questions and an advisor will review your case, with no obligation.
All financing is subject to approval, financial analysis and lender terms.