First Business Bank Closes $6 Million Floorplan Financing Line of Credit
INDIANAPOLIS, IN – May 24, 2021 – First Business Bank announces the closing of a $6 million inventory floorplan line of credit for an independent car dealer through its Floorplan Financing group.
The leaders at this Illinois car dealership sought reliable bank financing with a reputation for responsive, personal service. The experienced floorplanning experts at First Business Bank structured a specialized floorplan solution to offer the dealership purchasing flexibility and drive growth for years to come.
“Working with this dealership has been our pleasure,” said Jeff Widholm, Managing Director – Floorplan Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “They are doing a brisk business and we’re glad to help them continue to focus on what they’re doing best: car sales. It’s our goal that our clients are never encumbered by the financing process and we facilitate their success as much as possible.”
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.