First Business Bank’s floorplan financing group funded a $4 million inventory floorplan line of credit with an established independent automotive dealership in Tennessee. The dealer made the strategic decision to move its floorplan financing from a 21-year relationship with a bank that couldn’t accommodate the dealership’s growth trajectory and technology needs.
“This dealership represents exactly the type of forward-thinking operation we’re designed to support,” John Goodyear, vice president, sales manager, floorplan financing at First Business Specialty Finance, a subsidiary of First Business Bank, said. “When a business outgrows their current financing relationship after 21 years, it signals both their success and their need for a more sophisticated partner. Our automated auction flooring technology and robust digital platform provide the efficiency and scalability they require to continue their growth trajectory.”
