H.R. 5734 · 111th Congress
Dealer Floor Plan Program Extension and Improvement Act of 2010
- Stage
- In committee
- Sponsor
- Joe Donnelly
- Introduced
- 2010-07-14
- Latest action
- 2010-07-14 · Introduced in House
Summary
Dealer Floor Plan Program Extension and Improvement Act of 2010 - Directs the Administrator of the Small Business Administration (SBA) to: (1) carry out a program to make SBA loan guarantees to assist dealers of titleable assets to finance inventory; (2) carry out such program in the same manner as the SBA's dealer floor plan pilot initiative; and (3) issue regulations revising the program to address barriers to program participation experienced by lending institutions and dealers of titleable assets.
Authorizes the Administrator to guarantee up to 90% of a loan under the program.