A loan agreement between BMW and a local Mini dealer (Mini has been owned by BMW...
A loan agreement between BMW and a local Mini dealer (Mini has been owned by BMW since 2000) is an example of a:
A. factoring of receivables.
B. floor plan financing.
C. business equipment loan.
D. None of these options.
E. depreciation loan
Homework Answers
Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods. When each piece of collateral is sold by the dealer, the loan advance against that piece of collateral is repaid
Thus the answer is B)
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