SBA lends a hand – Floor plan financing program provides working capital
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Description
Abstract: An expansion of a Small Business Administration (SBA) loan program makes it easier for creditworthy auto dealerships to borrow against inventory, bumping up cash flow, liquidity and access to working capital. The SBA’s dealer floor plan (DFP) financing pilot program began July 1 and runs through Sept. 30, 2010. This article answers some frequently asked questions about the program, and describes industry efforts to encourage lenders to make these loans to dealers.
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