Business Loans and Financing for Auto Shops in Ontario

Auto shop owners in Ontario have been prospering as of lately. With over 13.6 million citizens in the province, there are more and more auto shops opening up regularly. In any business, it is crucial to manage one’s finances during the early stages. To do so, it is common to look towards auto shop financing in order to work with additional resources. With more financial resources, auto shop owners can finally pursue equipment upgrades, open up new locations, hire new employees, renovate their garage or simply pay off their expenses on time.

Traditionally, auto shop owners used to antagonize the application process for auto shop loans. It’s hard not to when you face insanely long application forms and no responses for weeks on end and then to find out that you weren’t even qualified in the first place. Our goal with Smarter Loans is to make this process more efficient and help auto shops like yours have the opportunity to work with trusted auto shop loan providers in Ontario.

We’ve curated a loan directory with the years of expertise that we’ve built throughout the years. To increase your chances to be approved for an auto shop loan, ensure that your garage has been servicing clients for at least 6 months and makes over $5000 a month in monthly revenue.

Our list below features some of these auto shop loan providers we stated above. Click the “Apply Now” button after you have selected an auto shop loan provider that fits your situation. The decision period is short and once you are approved, your loan would be deposited in your bank account in just a couple days. Sometimes it’s a lot of work to research through all of these providers, so instead you can pre-apply at Smarter Loans. One of our team members will hop on board and help you select an auto shop loan provider in Ontario that suits your needs.

Ontario Statistics Bulletin

  • As per the most recent stats, Ontario reports 3,602,000 listed home owners.
  • On the average, consumer debt in Ontario is at the level of $23,000.
  • As per the latest available information, an average hourly wage rate in Ontario is $30.
  • Ontario’s top employment sectors are management of companies and enterprises, agriculture, forestry, fishing and hunting, real estate and rental and leasing.
  • Based on the most recent stats, on the average each resident of Ontario makes $47,400 per month.
This data was researched in 2019 and uses various information resources, including Canada’s National Statistics Agency, etc., where the information can be as of an older date. The facts above may change as new information becomes available. We do our best to keep the information up to date.

Smarter Loans helps you choose local Auto Shop Business Loan lenders in Ontario for all your borrowing needs.

Browse through our pool of Auto Shop Business Loan companies to find the most current Auto Shop Business Loan rates in Ontario.

Auto Shop Business Loans are commonly used to

  • upgrade the equipment in your auto garage
  • hire additional staff
  • invest in new tires, glass, and paint for your shop
  • expand your auto repair operation
  • get more parts, tires, and inventory
  • hire more mechanics to work for you
  • promote a special sale or offer
  • open another auto repair garage

to mention but a few.

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