Key Takeaways
- TPS used car lot owners qualify based on vehicle sales revenue
- Floor plan financing for vehicle inventory available
- Lot expansion and working capital both fundable
- No green card or SBA eligibility required
- 48-hour decisions — fund your inventory before the market moves
Used car dealerships operated by TPS entrepreneurs are a significant business category, particularly in states with large immigrant car-buying communities. Salvadoran and Honduran TPS holders operate used car lots that serve their communities — often providing financing options and bilingual service that mainstream dealerships do not. A used car lot moving 40-80 vehicles per month generates $800,000-$2M+ annually with strong cash flow and high asset turnover. Floor plan financing — borrowing against vehicle inventory — is the traditional financing tool for auto dealers.
Car Dealership Funding Uses
- Floor plan financing: Finance your vehicle inventory with each car as collateral
- Working capital: Operational costs, detailing, minor reconditioning, and advertising
- Lot expansion: Purchase or lease additional lot space to carry more inventory
- Auction access capital: Fund vehicle purchases at dealer-only auctions
- Technology: Dealer management systems and online listing platforms
Frequently Asked Questions
Yes. TPS holders with dealer licenses can own auto dealerships. Bankable provides floor plan and working capital financing based on sales revenue.
Floor plan financing provides a revolving credit line where each vehicle in your inventory serves as collateral. You draw on the line to buy cars and repay when the car sells.
A valid state dealer license is required. Specific requirements vary by state. We verify your license during underwriting.
Typically $100K-$2M depending on inventory size and sales volume. A dealer moving 50 cars/month can often access $500K-$1.5M in floor plan financing.
Yes. Working capital can cover detailing, minor repairs, and reconditioning costs between auction purchase and sale.
Yes. Auction access capital — advancing funds to buy cars at dealer auctions — is available as part of a floor plan line.
No. Dealers operating from leased lots are fully fundable. You do not need to own the real estate.
Check your Bankability Score or call (786) 443-5511.