Elite independent auto dealers understand the difference a committed floorplan partner makes. But they might be surprised to learn they're part of a larger trend—and ahead of the curve in ways that give them a competitive edge.
During recent market transformations, forward-thinking independent dealers moved to specialized banking partners who view dealer floorplan financing as a core focus rather than a side business. These dealers chose expertise and commitment when market disruptions revealed the risks of commodity banking relationships.
What’s Behind The Movement To Specialized Bank Floorplan Financing?
Over the past several years, the independent dealer floorplan financing landscape shifted dramatically, creating opportunities for dealers who paid attention to the warning signs.
Major banks made strategic exits. Several banks abruptly exited floorplan lending, leaving their clients scrambling with tight deadlines to secure alternative financing as rising interest rates forced banks to prioritize more profitable business lines.
The franchise dealer preference became obvious. Most banks focus primarily on franchise dealers because manufacturer recourse agreements provide additional security, leaving independent dealers competing for attention from a shrinking pool of specialized lenders.
Forward-thinking independent dealers recognized these dynamics early and established relationships with banks that view independent dealer financing as a core competency.
The Dealer Floorplan Financing Relationship Advantage
Elite dealers prioritize relationship factors that create measurable operational benefits:
Industry expertise that matters: Our leadership team brings decades of hands-on automotive experience. Jeff Widholm, our President of Floorplan Financing, spent 15 years in dealer floorplanning and served as CFO of a multi-store franchise dealership. John Goodyear, our Vice President and Sales Manager, has over 25 years in automotive — starting as a car salesperson and working through F&I Manager and General Manager roles before specializing in independent dealer financing for nearly 20 years. When dealers need quick decisions, they reach car people who've managed dealership operations.
Consistent support: Elite independent dealers work with dedicated points of contact who know their business patterns, seasonal fluctuations, and growth plans—enabling faster problem resolution and proactive credit management.
Competitive pricing without exceptions: Independent dealers receive the rates they deserve from experts who understand their risk profile and operational strengths rather than being treated as special cases requiring extra approvals.
During market disruptions, committed partners maintain consistent access to capital while commodity lenders often restrict credit or impose new requirements. This difference determines whether dealers capitalize on inventory opportunities or watch competitors secure the best units.
Partnership stability creates compound benefits over time with:
- deeper credit relationships
- streamlined processes
- institutional knowledge
These operational efficiencies explain why successful independent dealers prioritize long-term partnership value over marginal rate differences.
Auto Dealer Floorplan Success Story
Not long ago, a New Jersey client discovered First Business Bank through a trusted industry referral. After years with a large floorplan provider, they needed a more relationship-oriented partner.
"I'm sure some dealers are nervous because they haven't heard of First Business Bank," the owner explained. "But I would tell you from my experience that they really know what they're doing. They made it really easy to switch. They have your best interests in mind and care about your overall success and the business."
This sentiment reflects what we hear regularly from our dealer family—partners who value expertise and commitment over brand recognition.
How Our Focus Helps Our Dealer Floorplan Clients
Elite independent dealers who made this move position themselves ahead of competitors still dealing with inconsistent lenders. As we expand our client base by 25% over the next year, established partners benefit from increased resources while maintaining priority status.
Successful independent dealers choose stability, expertise, and commitment in their dealer floorplan financing relationships. Recent market dynamics validate this approach — specialized banking partnerships provide the operational foundation that enables dealers to focus on running profitable dealerships rather than managing lending complications.
