As reported in the Post Bulletin, “The Federal Reserve reported earlier this month that consumer borrowing in the United States is at a record level of $3.47 trillion.”
Economist Brian Jacobsen said looking at what goes into overall consumer spending offers a glimpse of where it may be headed.
The article cites the good times have returned at Diamond Jim’s Motor Cars, with its sales of used cars up at least 30 percent this summer from the same period last year.”We’re doing well, we’re having fun,” said Tom Letizia, the owner of Diamond Jim’s, which operates automotive lots in the Milwaukee area. “We made it through the ’08, ’09, 2010 drought, and it’s now getting back to the glory days like it used to be. People are buying cars, people are spending money.”
United capital offer small business loans and working capital loans for the automotive dealers and auto mechanical repair stores.
At United Capital Source, many of our best long term clients include automotive repair businesses. These mom and pop shops are what makes America great. We are proud to support these businesses with business loans against credit card sales and help them through the slower seasons and competing against national chains such as JiffyLube, Pepboys and Midas.
View a video of Andy Decime, owner of Mechanix On Call, speaking about his experiences of trying to obtain a small business loan from a bank before working with United Capital Source to secure funding for his auto repair business.