Rep. Joe Donnelly (D-IN) Meets with SBA Administrator on the SBA’s Pilot Program Regarding Floor Plan Lending

At MHI’s request, Rep. Joe Donnelly (D-IN) met with SBA Administrator Karen Mills this week to discuss concerns with the SBA’s pilot program regarding floor plan lending. Rep. Donnelly conveyed the industry’s concerns that the pilot has not generated SBA loans to industry retailers due to the program requirements that discourage banks from becoming involved with the pilot program. Boat dealers, auto dealers, and RV dealers have reported similar concerns regarding the lack of interest among lenders for the pilot program. MHI will follow-up directly with SBA Administrator Karen Mills during a meeting with her which is scheduled for next week.

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