Navistar Financial Corp. has signed an agreement for a one-year renewal of a $500 million dealer floor plan funding facility, effective immediately. This facility is funded through two of NFC’s major relationship banks. NFC continues to facilitate the majority of customer finance needs in the United States through Navistar Capital, its retail program formed last year in alliance with GE Capital.
“This renewal, combined with additional funding sources, ensures that we have appropriate liquidity to help International and IC Bus dealers purchase their floor plan inventory,” says David Johanneson, president and chief executive officer of NFC. “Throughout the difficult economic climate of the past few years, the credit quality of our portfolio and the health of our dealer network have remained strong, and we continue to have access to funding to support the profitable growth of Navistar.”