Floorplan financing is vital to the success of independent used car dealerships. However, banking instability is making it more difficult for dealers to get floorplan financing as some banks back out of the car industry. Other banks are tightening lending standards, making it more difficult for dealers to qualify.
Learn more about the situation with Corey Chambas, CEO of First Business Financial Services, Inc., and Jeff Widholm, Managing Director of Floorplan Financing, as they discuss what’s going on with banks and the strength of First Business Bank and its commitment to independent car dealers. They talk about:
- Why some banks are retreating from floorplan financing
- How these events affected First Business Bank directly
- How independent car dealerships fit into First Business Bank’s niche strategy
- What your dealership can expect partnering with First Business Bank
You’ve put years of hard work and passion into building your dealership. Our experts understand — they’re car people, too. Floorplan financing isn’t a side business for First Business Bank. It’s part of a bigger strategy that fits into our unique business model. Our Floorplan Financing team is singularly focused on helping elite independent car dealers succeed.