The chairman and ranking member of the U.S. Senate Committee on Small Business and Entrepreneurship are asking the Small Business Administration (SBA) to extend the Dealer Floorplan Pilot Program (DFP) from one year to three years, according to a bulletin from the Recreation Vehicle Dealers Association (RVDA). The committee has oversight of the SBA.
Sen. Mary Landrieu, D-La., and Sen. Olympia Snowe, R-Maine, are also asking that the SBA increase its outreach to the lending community to spur lender participation and eliminate the restriction on “less experienced floorplan lenders” in order to broaden the program’s reach. These are the same recommendations RVDA and other industry allies have made to SBA Administrator Karen Mills. At least two RV dealers have obtained financing through SBA’s DFP program.
To read a copy of the Senators’ letter to the SBA, click here.