FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


First Business Bank Funds $3.5MM Floorplan Financing Line of Credit

June 23, 2022, 07:10 AM
Filed Under: Dealer Finance

First Business Bank announced the funding of a $3.5 million inventory floorplan line of credit for a North Carolina-based independent car dealership through First Business Bank’s Floorplan Financing group.

“Our new client is doing great things in North Carolina and we are happy to play a part in helping them achieve their goals to grow their dealership,” said John Goodyear, Vice President – Floorplan Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “We’re pleased that more independent car dealers are recognizing the value of working with a bank-owned floorplanning group that prioritizes fast, personal service and values long-standing relationships.”

First Business Bank’s Floorplan Financing team offers independent car dealers the flexibility to finance their used car purchases, preserving cash flow and allowing them to buy preferred inventory. Floorplanning programs are available from $500,000 to $15 million for larger, well-established independent car dealers. This limited focus, a hallmark of First Business Bank’s business model, facilitates a smaller clientele than large competitors, empowering personalized concierge service.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.