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Retail floor planning (also referred to as floorplanning or inventory financing) is a type of short term loan used by retailers to purchase high-cost inventory such as automobiles. These loans are often secured by the inventory purchased as collateral. [1] Floor planning is commonly used in new and used car dealerships. [2]
An inventory revolving line of credit is a form of an asset based loan that is specifically collateralized by inventory held for sale. [ 1 ] [ 2 ] Rather than amortizing the principal amount over time, revolving lines of credit (revolvers) solely accrue interest on the outstanding balance and is charged in arrears. [ 3 ]
Within Europe in 2008, over 710 billion euros worth of bonds were issued, backed largely by asset-based loans, such as home and auto loans. Asset-based lending, once considered a last-resort finance option, has become a popular choice for companies and individuals that do not have the credit ratings, track record, or patience to pursue more ...
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Ally Financial Inc. (known as GMAC until 2010) is an American bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease ...
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. [1] [2] The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending ...
Owner financing is an arrangement in which an owner or seller, rather than a bank or mortgage lender, extends financing to a buyer. This can be a viable option for buyers who don’t qualify for a ...
Lenders' methods of assessment of the inventory value vary. A lender can hire an independent contractor to evaluate borrower's inventory [13] or use averaging, adjusted for a particular industry. For example, Moody's is reportedly applying Monte-Carlo method over inventory price fluctuations within each industry to determine risk free advance ...