Dealer Benefit Teams Up with Notre Dame FCU to Introduce Automotive Dealer Loan Program
Tampa, FL, January 010, 2024 – Notre Dame Federal Credit Union (Notre Dame FCU) and Dealer Benefit are partnering to announce a nationwide Automotive Dealer Loan program. This program will provide dealership funding based on future vehicle and/or Finance and Insurance contract sales.
“Like an automotive dealership, Notre Dame FCU has a rich history embedded in service and supporting local communities. These common traits make Dealer Loans a perfect way for our credit union to expand into even more communities,” said Robert Shane, Chief Innovation Officer at Notre Dame FCU.
To receive a $500,000 advance loan the dealership would need to average 100 vehicle sales a month. The loan repayment is made by adding an override to each unit sold and F&I products. The repayments are paid back over a two or three year period.
Dealer Benefit will act as Notre Dame FCU’s exclusive nationwide marketing agency.
“Dealership owners are incredible entrepreneurs always looking for innovate avenues for growth and these loans give that type of flexibility,” said Scott Lear, President of Dealer Benefit. “They allow funds to be utilized for franchise expansion, purchasing land, capital improvements or whatever their future growth plans merit.”
