Senate to take up SBA floorplan amendment

Posted on 28 July 2010
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The Senate today is considering an National Marine Manufacturers Association-supported substitute amendment to H.R. 5297, the Small Business Jobs Act of 2010.

The proposal, amendment No. 4519, would extend the Small Business Administration Dealer Floorplan Financing Program to three years, increase SBA loan caps for dealer floorplan financing to $5 million, eliminate SBA fees and make other improvements that will enhance credit availability for floorplans and other business credit.

The legislation also includes more than $12 billion in small business tax relief, as well as an NMMA-backed Small Business Lending Fund that would make available $30 billion for small business lending.

"NMMA strongly supports this legislation and urges you to write to your senators ASAP to express your support and urge final passage today," the NMMA said.

Click here to take action.

Comments
2 Wednesday, 28 July 2010 22:36

The hope is that the changes embedded in this legislation to the existing SBA Floor Plan program will increase participation by lenders and fix some of the problems that have prevented banks from participating.


 


 

1 Wednesday, 28 July 2010 16:03
THATS GREAT, FIND ME A BANK THAT WILL DO A SBA FLOORPLAN!

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