Inventory Floor Planning Solutions

Posts Tagged ‘John McEleney’

NEIL ROLAND
AUTOMOTIVE NEWS
APRIL 27, 2009 – 12:01 AM ET

WASHINGTON — The Obama administration is exploring ways to expand financing to car dealers, the head of the National Automobile Dealers Association said Friday. NADA Chairman John McEleney said members of the auto task force told him they are trying to find ways to let dealers borrow money to buy new cars from manufacturers.

One option the task force is looking at is working with the Small Business Administration, said McEleney, who met with task force adviser Ron Bloom and others on Thursday, April 23. “The task force wants that to happen, and they’re trying to find avenues, including through SBA,” McEleney said in an interview.

NADA did not request a specific figure, he said.

Source: Automotive News

Technorati Tags: floor plan financing, Floorplan Financing, John McEleney, SBA