Floor Plan Finance Agreement

This agreement means the floor plan financing agreement.

Floor plan finance agreement.

Floor planning is a form of financing for large ticket items displayed on showroom floors. Avangard a corporation organized under the laws of the state of pennsylvania having its principal place of business at 2708 commerce way suite 300 philadelphia pa 19154. Floor plan finance companies are uniquely attuned to the needs of auto dealers. Capitalized terms used in this agreement and not otherwise defined are used with the meanings set forth in schedule i any undefined terms shall have the meaning as set forth in the alabama uniform commercial code.

Like any other financing facility the line must fit the financing needs of the borrower with some restraints to avoid excessive leveraging or over extension. This agreement made this 13 th day of february 2012 by and between avangard auto finance inc. How does floor plan financing work specifically to benefit auto dealers. And autosource enterprises inc.

Using cash or a bank line of credit to purchase inventory can work for some car dealers but many floor plan financing companies offer a variety of dealer specific benefits. In this agreement we us and our mean regions bank you and your mean the borrower. For example automobile dealerships utilize floor plan financing to run their businesses. Floor plan agreement.

3 amount of the line.