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Jared Hamilton
From: Jared Hamilton
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Grant Cardone

Grant Cardone CEO / Author / Entrepreneur

Exclusive Blog Posts

How to Trade Binary Options Successfully

How to Trade Binary Options Successfully

Binary options are the new age trading. It sounds pretty simple: you invest your money, choose one platform, choose a broker. Choose a strategy you’l…

Design: The Driving Factor Behind Showroom Sales

Design: The Driving Factor Behind Showroom Sales

Many factors go into creating a successful showroom. While often overlooked, design plays an essential role in the customer experience and overall success …

5 Reasons You Should Seek Out Consumer Generated Content

5 Reasons You Should Seek Out Consumer Generated Content

It may seem like a good idea to always be the one writing about your dealership, but in reality consumer-generated content is as important, if not more so,…

DealerRater Reviews now Available on Cars.com

DealerRater Reviews now Available on Cars.com

DealerRater pushed a press release today that they have pushed reviews to the Cars.com Platform. According to the press release, this is about three millio…

Why Should You Attend NADA 2017

Why Should You Attend NADA 2017

As you investigate the possibility of attending NADA in New Orleans this year, you might be questioning the benefits of attending. It’s possible that…

Banks are unable to differentiate between successful car dealers and the automobile industry. treating all dealers the same, assigning high risk labels to everyone, and looking for reasons not extend floor plans and thereby penalizing the successful car dealers in order to balance out their concern about exposure. Successful dealers that depend on borrowed money to grow their inventories, their companies, and ultimately the economy, are unable access credit because banks are unable to see the difference between profitable companies and damaged industries. Banks are not assigning any positive value for profitable dealers and treating all dealers the same.  This is insane and a non judicial way to lend money. I know auto dealers that have been in business for 50 years that are still profitable in the current economy and are being treated like they have the plague. This is yet another example of the lender being unable to differentiate between a business and an industry. And this inability to differentiate between successful businesses and damaged industries extends to real estate and other small businesses dependent upon retail sales. The Small Business Administration doesn't even cover floor plan loans for car dealers but recognizing that dealers need help, the SBA began rolling out new programs tailored to them. So far they have approved just one loan. Mr. Banker just because a carton of milk spoils in the refrigerator you would not trash all of the contents in the refrigerator. Just because one of your kids is late coming home you wouldn't punish all your children. Banks should be assigning an added value to the small business entrepreneur that proves profitable while the industry and the economy shrink. Maintaining a profit today requires much more skill as a business person than it did a year ago yet no bank places any measurable value on it. For banks to lend money again they must sanely distinguish differences between the borrower and the industries they are in and assign a positive value for those of us who can stay profitable despite a contracting economy. We aren't talking about credit card consumption here we are talking about proven small business entrepreneurs that already made it through the worst of the economy's contraction and will be the one's to grow the economy going forward. Grant Cardone, Author and CEO

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