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Floor Stock Financing
Tailored for automotive dealers, Floor Stock Financing helps to finance the purchase of vehicles for showcase and inventory.
Why Floor Stock Financing?
Seasonal Demands
Adjust your inventory level based on seasonal fluctuations.
Increase Sales Through a Wider Selection of Vehicles
Extend the range of vehicle selections for your customers, without the need of upfront payment.
Maintain Healthy Cashflow
Helps to finance the required inventory and alleviate the financial burden of upfront payment for the vehicles.
Easy Application via MyInfo
Convenient Giro Payments
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Why Floor Stock Financing?
Maintain inventory for displays and sales
monitoring inventory levels to ensure that there is enough stock to meet customer demand.
Flexible payment terms
Flexible payment terms can help borrowers manage their cash flow and make their loan payments more manageable, which can increase the chances of loan repayment success.
Increase sales through a wider selection of vehicles
By utilizing floor stock financing, dealerships can leverage their inventory to attract more customers and generate more sales.
Maintain healthy cash flow
Without the upfront payment required for inventory businesses can maintain adequate inventory levels to meet customer demand
How does it work?
Take a look how to apply our product financing. It's so simple and easy to apply
Submit your documents
This process typically involves providing information such as the name, address, contact details, and payment terms.
Loan amount is determined
the lender will determine the amount of the loan. This amount will be based on several factors, including the dealership's creditworthiness, the type of vehicles being purchased, and the lender's specific lending criteria.
Vehicles are sold and loan is repaid
The dealership will then sell the vehicles from their inventory to customers, generating revenue to repay the loan. As the vehicles are sold, the dealership will pay back the loan plus any interest and fees charged by the lender.
Pilon
Learn how Pilon Plus - a cloud-based app - can help your business access reverse supply chain financing to provide significant and strategic cashflow for you.
FAQs
Common eligibility requirements include having a good credit score, a strong financial history, and a clear plan for managing and selling the inventory. It's important to research and compare different lenders and financing options to find the best fit for your business and to ensure that you meet all the eligibility criteria.
- Business Plan: A detailed business plan that outlines the company's goals, financial projections, and how the inventory will be managed and sold.Financial Statements
- Financial statements that provide a clear picture of the company's financial health, including income statements, balance sheets, and cash flow statements.
- Inventory List: A detailed list of the inventory that the business plans to purchase with the financing, including the quantity, cost, and potential profit margins.
- Personal Identification: Government-issued identification for the business owner or authorized representative, such as a driver's license or passport.
- Tax Returns: Business tax returns for the previous year to demonstrate financial stability and the ability to repay the financing.
- Bank Statements: Bank statements that show the company's cash flow and financial stability.
If you cannot repay the loan for Floor Stock Financing, it can result in serious consequences for your business, including late payment fees, damage to your credit score, and potential legal action or repossession of inventory.
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