E-NEWSLETTER

Lending to the nation’s 17,000 franchised dealers to purchase new- and used-vehicle inventory continues to lag, making it a top issue for the National Automobile Dealers Association (NADA). The dealer association said that a hearing on Feb. 25 by the Congressional Oversight Panel on the Troubled Asset Relief Program (TARP) highlights the ongoing need to provide more liquidity for auto business lending.

Tags: Federal Reserve, FLOORPLAN FINANCING, NADA, Small Business Administration, TALF, TARP

CUDL, which administers the nation’s largest auto lending network for credit unions, will represent its more than 750 partnering credit unions at the 2010 National Automobile Dealers Association (NADA) Convention.

Tags: credit unions, CUDL, NADA

Saying the recovery of the financial system remains incomplete, Treasury Secretary Timothy Geithner extended the government’s $700 billion Troubled Asset Relief Program (TARP) to October 2010, but promised to pledge no more than $550 billion.

Tags: NADA, Small Business Administration, TARP

The National Automobile Dealers Association has urged the U.S. Small Business Administration to expand loan amounts and guaranties under the Dealer Floor Plan Pilot Initiative, which launched in July and will continue through September 2010.

Tags: floorplanning, Inventory Financing, NADA, Small Business Administration

Rep. Barney Frank’s attempt to exclude auto dealers from regulation by a proposed consumer-financial protection agency isn’t good enough, the National Automobile Dealers Association (NADA) said.

Tags: NADA

John McEleney, chairman of the National Automobile Dealers Association, announced his support last week for recent changes to SBA 7(a), a Small Business Administration loan-guarantee program.

Tags: floorplanning, John McEleney, NADA, Obama administration, Small Business Administration