First Business Bank’s floorplan financing team funded a $2.2 million inventory floorplan line of credit with an independent used car dealership in Pennsylvania. The established dealer made the strategic decision to transition their floorplan financing from their incumbent lender of eight years, selecting First Business Bank as their long-term growth partner.
“After eight years with their previous lender, this dealer recognized the value of partnering with a bank that can grow alongside their business and adapt to their needs in a highly responsive way,” John Goodyear, vice president, sales manager, floorplan financing at First Business Specialty Finance, a subsidiary of First Business Bank, said. “Our relationship focus and financial capacity offers our dealership clients a clear choice to support their growth efforts.”
This new financing relationship positions the dealership for continued growth while providing the personalized attention and flexibility that dealerships require to maintain their competitive edge.
