Roy Curran started his vehicle salvage and repair business in 2020 and in just a few years SN Autobody has gone from strength to strength. Having been introduced to MaxCap through a broker, Roy has taken several rounds of funding for his business, which has played a pivotal role in its ongoing success.
SN Autobody buys and salvages damaged vehicles. Roy and his team repair, restore and rebuild these vehicles and then sell them on. “Our growth has been phenomenal,” he explains. “But I do need cashflow in order to run my business. We’ve got to have that funding in place to enable us to buy the salvage items. And then we can get to work on them, with the aim being to fix them up, turn them around and sell them on as swiftly as possible. Sometimes this just takes a few days. Other times it can take up to a week or possibly even a bit longer. Obviously, it depends on a lot of factors – what state the salvaged vehicle is in, what sort of work we need to do on each one to make them presentable.”
MaxCap is not the only lender that Roy uses, but he does highlight some key advantages that the service and offering from MaxCap provides, compared to other sources of finance. And this is evidenced by the fact that SN Autobody is a repeat customer, with Roy having taken out several loans with MaxCap over the years.
“It’s just really easy getting the funds in place with MaxCap,” he says. “They don’t make you jump through loads of hoops and piles of paperwork. What they really want to see is our bank statements and of course they want to get an understanding of what sort of level of business the company is doing. And then the funds come through so quickly.”
Roy continues, “In terms of repayment, that’s also much easier with MaxCap. We know that there’s a set amount we need to repay each week. Many other lenders require daily repayments which is a lot of excessive admin for me when I just want to get on and do my work and focus on running my business.”
Roy is certain that, as SN Autobody continues to grow the relationship with MaxCap remains crucial. “We’ve borrowed from MaxCap several times now. Because naturally the more I can borrow, the more stock I can buy.” He concludes, “MaxCap is by far and away the easiest and the best lender we use.”
Click here to find out more about SN Autobody.