Senators ask SBA to extend floorplan program

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Two U.S. senators have sent a letter to the Small Business Administration encouraging the agency to extend the dealer floorplan pilot program from one year to three years, the National Marine Manufacturers Association reports.

The letter, sent by Sen. Mary Landrieu, D-La., and Sen. Olympia Snowe, R-Maine, also asks the SBA to increase its outreach to the lending community to spur lender participation and eliminate the restriction on "less experienced floorplan lenders" in order to broaden the program's reach.

Click here to read the letter.

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