Floor Plan Loan Definition What Does Floor Plan Loan Mean

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Posted on October 18, 2018 at 19:00 PM

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Floor loan financial definition of floor loan
floor loan The minimum amount a lender will fund on an approved loan,with the balance payable if and when the borrower meets certain conditions,such as minimum occupancy levels or preleasing.If the borrower fails to meet the requirements,the borrower will have to secure gap financing or mezzanine financing in the interim,which can be extremely expensive.
Floor Plan Loan Documents | legal definition of Floor Plan ...
Floor Plan Loan Documents means (a) the Floor Plan Credit Agreement, (b) the other "Loan Documents" (as defined in the Floor Plan Credit Agreement) and (c) all other principal documents, if any, evidencing or securing the obligations thereunder, in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Floor Plan Intercreditor ...
Dealer Floor Plan Financing - NIADA
loan advance against that piece of collateral is repaid. In short, Dealer Floor Plan financing allows dealers to borrow against retail inventory. The dealer then repays that debt as they sell their inventory and borrows against the line of credit to add new inventory.

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