Debt Free $7.5M in New and Used Cars - Needs $1.5M Loan or LOC
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  1. 10-17-2019, 03:44 PM #1
    ABL America
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    Debt Free $7.5M in New and Used Cars - Needs $1.5M Loan or LOC

    My client has $7.5M in New and Used Cars that are Debt Free. he needs $1.5M Loan or LOC.

    We are looking for a direct lender in the single digit to low teens that will use the existing inventory as collateral?

    Thanks.
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  2. 10-17-2019, 06:41 PM #2
    Yankeeman07
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    New cars in a dealership already have a lein on them - called a floor plan
    Dave Lambert, Business Development
    dave@fcbankcard.com
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  3. 10-18-2019, 08:50 AM #3
    RichardGerard
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    Yankee is correct- we HAVE though arranged 1.5M loans for the Dealerships if they own other collateral and the credit/earnings support it
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  4. 10-18-2019, 09:12 AM #4
    ryan $
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    New Cars Debt Free, yeah....prob not likely.

    I have seen used cars owned ourtright for dealerships before
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  5. 10-18-2019, 01:02 PM #5
    ABL America
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    Some are new and some are used. They have financing in place for some of the cars, but $7.8M are debt free. Any suggestions who we can approach?
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