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I'm sorry but if you could clear up what you mean. You have been in business for two years, but you couldn't have even built the location without an approved floor plan. Have they given you a denial report explaining why it is not getting approved?
Either way, have you gone to a professional draftsman to get this done, or is this something you drafted yourself? If you are drafting your floor plan up yourself and getting it denied, take it to a draftsman and get it done.
There are a number of requirements when drafting and submitting a proposed floor plan. Naturally a draftsman would automatically be familiar with these to insure that they are included.
Now I could list them here if you would like to see those requirements, but just go to a draftsman lol.
Thank you and good luck on the dealership.
P.S. What kind of cars will you be selling, and if you're selling luxury cars would I be able to get a discount? lol
Are you trying to get a MAFS plan or DSC
dsc has denied me and afc. they say i have to much credit
Oh, I'm sorry you're talking about financing. Please excuse my other reply up there. I don't have much knowledge about the car dealership industry, but I have heard a little about DSC, and AFC, all of which isn't good. Be careful if you chose to go into a flooring plan with them. Of course I have heard better things about MAFS.
If your financials are in good shape, try a bank, a lot of the requirements from DSC, AFC, and MAFS are about the same as any lender. Also try a small business expansion loan which may also fit your needs.
The SBA has something called a "Dealer Floor Plan Financing Program" that has the ability to loan $500k to $2MM to cover that expense.
Like I said I'm not too familiar with the dealership industry...but I hope this helps
Thank you for the follow up Marcellius.