INDIANAPOLIS, IN – December 16, 2021 – First Business Bank announces the closing of a $4 million inventory floorplan line of credit for Direct Auto, an independent car dealer in Mississippi, through First Business Bank’s Floorplan Financing group.
Owners of Direct Auto, Art Hadler, Jr. and Michael West were especially pleased with the unique combination of responsive, reliable service and competitive floorplan programs available through First Business Bank.
“We were very impressed with First Business Bank’s Floorplan Financing team, their knowledge, and the bank’s commitment to the industry,” said Michael West. “They’ve made it as easy as possible to work with them with quick loan decisions and competitive interest rates. We’re very pleased.”
With a reputation for valuing long-term partnerships, First Business Bank’s Floorplan Finance team strives to provide purchasing flexibility and opportunity to drive growth.
“We’re excited to work with Direct Auto,” said John Goodyear, Vice President – Floorplan Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “They have a great, successful dealership and are really energized about our partnership and what we offer in the industry. We are pleased to help them grow their dealership in the years to come.”
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 $10 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.
About First Business Bank
First Business Bank specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank.