Floor Plan Loan Agreement

This dealer floor plan and security agreement the agreement is made as of september 28 2007 by and among fountain dealers factory super store inc a north carolina corporation borrower regions bank an alabama state banking corporation together with its successors and assigns lender fountain powerboats.

Floor plan loan agreement. Avangard a corporation organized under the laws of the state of pennsylvania having its principal place of business at 2708 commerce way suite 300 philadelphia pa 19154. Contrary to common perceptions most car dealers do not pay cash for the. When each automobile is sold the loan advance against that particular piece of collateral is repaid. This booklet addresses the risks associated with floor plan lending and discusses risk management practices for floor plan lending.

Every time a new dealer agreement new floor plan agreement or new bank agreement is presented a dealer should compare the collateral descriptions with other financing documents. Dealer floor plan and security agreement. If the same collateral is being used to support more than one loan there is likely a problem that needs to be addressed by changing the collateral description. And autosource enterprises inc.

This agreement made this 13 th day of february 2012 by and between avangard auto finance inc. The dealer borrows against their retail inventory repays the. This booklet applies to the occ s supervision of national banks and federal savings associations. Retail floor planning also referred to as floorplanning or inventory financing is a type of short term loan used by retailers to purchase high cost inventory such as automobiles these loans are often secured by the inventory purchased as collateral.

Fontana ca 92335 and. Floor plan agreement. Advances under the facility are made against specific automobiles as collateral. Dealer floor plan and security agreement.

Wholesale floor plan financing agreement for trailer dealers. Loan worksheet 3 floor plan inventory financing. Floor planning is commonly used in new and used car dealerships. Retailers use a short term loan to purchase inventory items and the loan is repaid as inventory is sold.

This dealer floor plan and security agreement the agreement is made as of september 28 2007 by and among fountain dealers factory super store inc a north carolina corporation borrower regions bank an alabama state banking corporation together with its successors and assigns lender fountain powerboats. Floor planning is a type of inventory financing for large ticket retail items. The floor plan facility allows the automobile dealer to obtain financing for automobile inventory.