ACG, the UK’s largest insurance claims funding partner, and start-up Motornomic today announced an industry-first partnership that will revolutionise how service, maintenance, and repair (SMR) garages manage their cash flow.
This strategic collaboration brings ACG’s proven invoice funding solutions directly to SMR garages through Motornomic’s innovative platform, marking the first time such comprehensive financial services have been made available specifically for this sector of the automotive industry.
The partnership enables SMR garages to access immediate working capital by converting B2B invoices, such as fleet work, into cash within 24 hours, eliminating the traditional wait times of up to months to get paid and all the chasing, that often strain garage operations and growth potential.
“Cash flow challenges represent one of the biggest hurdles for SMR businesses today,” said Roky, CEO at Motornomic. “By integrating ACG’s funding solutions into our platform, we’re providing garage owners with the financial flexibility they need to invest in equipment, hire staff, and grow their businesses without the burden of waiting 30, 60, or even 90 days for payment.”
With competitive rates, the cost of factoring these invoices can be well worth it to achieve the cashflow boost and time savings. Proven Success in the Automotive Sector.
ACG has built a stellar reputation in the automotive repair industry, processing over 4,500 invoices monthly for the accident repair industry. Their Authorised Funding, Advanced Funding, and Credit Repair products have transformed operations for numerous businesses in adjacent automotive sectors.
Steve Greensmith, Sales Manager at ACG, commented: “Our partnership with Motornomic enables us to extend our expertise to a previously underserved market. SMR garages face unique challenges, and we’re excited to offer solutions specifically designed to address their needs and fuel their growth.”
This first-of-its-kind partnership addresses a critical gap in financial services for the SMR sector, potentially transforming how thousands of garages across the UK operate and grow their businesses.
The solution comes at a crucial time, as industry data shows SMR garages are facing increasing pressure from rising costs, parts delays, and changing vehicle technologies.