Help Center

Dealer Loans FAQs

• What kinds of dealer loans are available?

  We have a variety of products to meet dealer lending needs, including:

  • Real estate loans
  • Dealership equipment loans
  • Working capital loans
  • Electronic revolving lines of credit

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• What is a real estate loan and what can it be used for?

  A real estate loan is financing provided to acquire new buildings or land.

  It can be used for purposes such as:

  • Renovation, remodeling or site improvements
  • Refinancing or loan consolidation

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• What are dealer equipment loans used for?

  Dealers can use dealer equipment loans to purchase specific equipment needed for dealership operations, like service equipment, security systems and paint booths.

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• Do dealer loans require collateral?

  Generally, the equipment itself collateralizes the loan.

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• What is a working capital loan?

  You can use a working capital loan to fund the current operational needs of your dealership such as upgrading computer systems.

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• What are the advantages of a Working Capital Loan?

  With a Working Capital Loan, you can free up working capital and leverage your dealership’s equity in fixed assets. It can enable you to recapitalize and consolidate loans.

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• What is an electronic revolving line of credit and what is it used for?

  An electronic revolving line of credit is an account of approved funds up to an authorized amount that your dealership can draw upon electronically. It’s typically used for purposes such as covering slow receivables, seasonal expenses or unanticipated expenses.

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