Dealer Floor Plan Program Extension and Improvement Act of 2010
In July 2010, Congressmen Joe Donnelly and Fred Upton introduced the Dealer Floor Plan Program Extension and Improvement Act of 2010, which would extend and improve the Dealer Floor Plan Financing Pilot Program.
The improvements to the SBA’s Dealer Floor Plan Financing Pilot Program are:
- extending the Dealer Floor Plan program for 5 years, until September 30, 2015;
- increasing the government guarantee to 90%; and
- giving the SBA the authority to revise the program to address barriers to participation by lending institutions and dealers after consulting with representatives from these industries.
Stay tuned