SBA · other · Published 2011-02-09 · Effective 2011-02-09 · 76 FR 7098
Document
Document number
2011-2836
Federal Register citation
76 FR 7098
CFR reference
13 CFR 120
Type
Rule
Action
Program implementation with request for comments.
Category
other
Agency
US Small Business Administration
Publication date
2011-02-09
Effective date
2011-02-09
Docket
Docket No. SBA-2010-0015
Abstract
SBA is introducing a new Dealer Floor Plan Pilot Program to make available 7(a) loan guaranties for lines of credit that provide floor plan financing. This new Dealer Floor Plan Pilot Program was created in the Small Business Jobs Act of 2010. Under the new Dealer Floor Plan Pilot Program, which will be available through September 30, 2013, SBA will guarantee 75 percent of a floor plan line of credit between $500,000 and $5,000,000 to eligible dealers of new and used titleable inventory, including but not limited to automobiles, motorcycles, boats (including boat trailers), recreational vehicles and manufactured housing (mobile homes).