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SBA relaunches loan program

Industry News | May 1, 2011 | By:

The Small Business Administration has relaunched its Dealer Floor Plan (DFP) Program. Originally started in July 2009 for boat, auto, RV and other dealerships that use floor plan financing loans, the new DFP program raises loan caps from $2 million to $5 million and provides a loan guarantee of 75 percent on floor plan lines of credit with a 100-percent advance rate. The program extends until Sept. 30, 2013. Interested businesses should contact their lender or nearest SBA field office for a list of participating SBA-approved lenders in their area.

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