Dealer Floor Plan Loans

Our floor plans offer quick cash flow great terms and no curtailments.

Dealer floor plan loans. This booklet addresses the risks associated with floor plan lending and discusses risk management practices for floor plan lending. No curtailments or audit fees. Floor plan financing is a revolving line of credit that allows a dealership to obtain financing through sba s 7 a program for inventory that can be titled such as autos rvs manufactured homes boats and trailers. Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods.

Keep it with car bucks. Monday friday 8 30 5 30 est. Fee disclosure form and compensation agreement for agent services in connection with an sba 7 a loan. You may wonder how much the dealer had to spend to provide you with almost limitless choices.

Floor plan lenders include local and regional banks large national banks and financing companies owned by the manufacturing companies like toyota financial or ford credit. This booklet applies to the occ s supervision of national banks and federal savings associations. For example automobile dealerships utilize floor plan financing to run their businesses. Dealer floor plan financing frequently asked questions for borrowers and lenders what is floor plan financing.

What you don t realize is that like most new car dealers a floor plan was used to finance the cars. Call or apply now 864 234 9696. Dealer floor plan dfp p sba form 147. Floor planning is a form of financing for large ticket items displayed on showroom floors.

The loans are often made with a one year term and based on an aggregate budget. An auto rv manufactured home etc. How does floor plan financing work specifically to benefit auto dealers. Read more about sba form 147.

Floor plan lending is a form of inventory financing for a dealer of consumer or commercial goods in which each loan advance is made against a specific piece of collateral. Note 7 a loans. As each piece of collateral is sold by the dealer the loan advance against that piece of collateral is repaid. Floor plan finance companies are uniquely attuned to the needs of auto dealers.

There s never been an easier way. Using cash or a bank line of credit to purchase inventory can work for some car dealers but many floor plan financing companies offer a variety of dealer specific benefits. Note 7 a loans. Impact of floor plan lending activities on a bank s risk profile and financial condition.