Dealer Floor Plans
First National Bank has the most experienced lending staff in Southern Oklahoma when it comes to dealer floor plan lines. We have years of experience in working with car dealers on both new and used floor plan lines. If you’re already in the car business and aren't banking with First National Bank, we’d suggest you come talk to us. If you’re new to the business or trying to decide whether it’s time to go into business, we can lend you advice and money to make your dreams a reality.
Competitive rates that are usually floating tied to “WALL STREET JOURNAL PRIME RATE AS PUBLISHED IN THE MONEY MARKET SECTION OF THE WALL STREET JOURNAL.”
Cars are normally floored at “Wholesale Value”. Apply now!
In addition to completing a loan application, it is generally recommended that you bring along the following additional financial information to expedite your loan request:
- A business financial statement, and copies of business tax returns covering a 3-year period if possible.
- A personal financial statement and copies of 3 years of personal tax returns if possible.
- A short business plan indicating how large a line you expect to need and the number of cars you expect to floor and sell within a 1-year time frame. The plan should also explain past dealership experience and training, if any.
- For companies that are brand new or in a start-up mode, a business plan may be your most important piece of banking information.
- The bank will, from time-to-time, conduct dealer floor plan checks to determine floor plan loan compliance. A preliminary floor plan check may be required prior to initial funding.
