As one of the most trusted brands in road tires and employing more than 65,000 people globally, Goodyear manufactures tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, farm equipment, and heavy earth-mover machinery.
As a Goodyear dealership, it is necessary to maintain minimum stock levels of inventory for a wide variety of cars, trucks, and tractors. Depending on geographic location, stock levels vary. Dealerships in mountainous snow regions such as Colorado and Montana stock more heavy duty tires compared to the dry climate and flat terrain cities in California and Florida with denser urban populations.
Added to the cost for dealerships stocking Goodyear tires, many often stock different brands of tires including Michelin, Pirelli, and FireStone. Dealers can be holding hundreds of thousands of dollars of tire inventory. Added to dealer stock minimums required by tire manufacturers is the cost of maintaining a team of trained mechanics and capital equipment to service vehicles. Tire dealers also spend money on local television and newspaper ads when weather changes as drivers' awareness of road safety increases when winter approaches.
United Capital Source has provided small business loans for Goodyear tire dealers and auto dealerships. The process for funding can be a minimum of 2 days and requires the dealership to provide our specialist small business finance team with no more than 3 months of bank statements.