INDIANAPOLIS, IN – May 18, 2022 – First Business Bank announces the funding of a $10 million inventory floorplan line of credit for an independent car dealership through First Business Bank’s Floorplan Financing group.
“We are honored to help our new client in Ohio grow their business,” said John Goodyear, Vice President – Floorplan Financing at First Business Specialty Finance, LLC, a subsidiary of First Business Bank. “Our team’s knowledge and dedication, along with our business priorities and structure, allow us to act quickly for them. We expect great things from our partnership with this client 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 $15 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.