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A pilot loan program aimed at increasing access to inventory financing for auto, boat, RV and other dealerships was re-launched today, Feb. 8, the Small Business Administration announced. The program will run through Sept. 30, 2013.
Read More →DataScan Field Services was selected by Clubb Finance Corporation to provide floorplan verification services for its dealer networks across Canada.
Read More →Enhancements made possible by the passage of the Small Business Jobs Act have been implemented into a variety of programs operated by the U.S. Small Business Administration (SBA). Among the programs benefiting from the bill is the agency’s dealer financing program.
Read More →Lenders who are successful in satisfying automotive dealers by meeting key performance expectations are more likely to capture a greater share of preferred loan applications from their dealer network, according to the J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study.
Read More →F&I sits down with the three executives who have taken the reigns of the combined dealer services groups of Wachovia and Wells Fargo. Hear what they have to say about the current market conditions and Wachovia officially taking on the stagecoach name.
Read More →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.
Read More →Sonic Automotive Inc. announced today that it has entered into new syndicated credit facilities with various financial institutions which mature in August 2012.
Read More →Fitch Ratings has lifted the moratorium on rating auto dealer floorplan transactions and published a revised Global Dealer Floorplan (DFP) ABS criteria report. It supersedes, in its entirety, the reports titled “Rating Criteria for U.S. Dealer Floorplan ABS”, dated May 14, 2008 and “European Auto Dealer Floorplan ABS Criteria”, dated Feb. 6, 2008.
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Despite signs of retail financing beginning to loosen up, dealer financing remains a major concern. It’s one of the reasons why the NADA is stepping up efforts to restart the market.
Read More →GE Capital’s Commercial Distribution Finance (CDF) division will acquire over $200 million of dealer floorplan financing receivables for the Arctic Cat dealer network in the U.S.
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