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ENGS Commercial Capital Launches Floor Plan Finance Program

September 01, 2020, 07:15 AM
Filed Under: Industry News

ENGS Commercial Finance Co. (ENGS) announced its working capital subsidiary, ENGS Commercial Capital (ECC), is offering floor plan financing to qualified dealers and equipment manufacturers.

“ENGS is committed to helping our OEM and vendor partners grow their businesses. ENGS is already an industry leader in providing retail finance options to the transportation, industrial and construction space. Now with our floor plan financing offering, ENGS offers a full suite of products to help our OEM and vendors better manage their inventory and retail sales. Our new floor plan offering provides an easy option for dealers to acquire additional inventory, and that product works closely with our customer finance retail programs to create a better customer experience,” said Jim Freund, Executive Vice President and Chief Marketing Officer of ENGS.

Manufacturers can expect increased sales and create cash flow by receiving immediate payment for commercial equipment. Additionally, offering a floor plan financing option to a manufacturer’s dealer network can drive brand loyalty and increase market share.

According to Tania Daniel, Managing Director of ECC, “We believe the floor plan market is currently underserved. The ECC Floor Plan Finance option will allow us to better service the current ENGS network, as well as other manufacturers and dealers nationwide.”

In addition to floor plan finance, ENGS’ industry-specific solutions such as equipment financing, receivable financing, parts and service financing, insurance, and more, provides dealers with solutions from a partner they can trust.

ECC, a subsidiary of ENGS, a Mitsubishi UFJ Lease & Finance company, specializes in helping businesses with their cash flow needs through working capital solutions. ECC provides factoring, asset-based lines of credit, supply chain financing and floor plan financing.

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