SBA will revise floorplan lending program

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The Small Business Administration is developing a revised Dealer Floorplan Program to replace the expired pilot program, the National Marine Manufacturers Association announced.

Last week, the NMMA and other industry leaders hosted a conference call with more than 30 lenders to inform them that a new program with improved terms is being prepared by the SBA. The SBA is collecting feedback from the lenders and is aiming to increase lender participation.

The SBA hosted a conference call this week with the industry and lenders to discuss concerns with the pilot program and how to ensure that lenders of all sizes participate in the new program.

The SBA is working to have a new program completed in early 2011, the NMMA reported.

For information, contact Cindy Squires at (202) 737-9766 or csquires@nmma.org.

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