January 19, 2015

COMMERCIAL Wholesale Floor Plan Lending

Commercial Wholesale Floor Plan Lending

Shaw offers software that services commercial wholesale floor plan lending processing. Shaw’s Wholesale Floor Plan Lending application helps grow your wholesale business and improve operational efficiency. Many unique credit line types and other products can be created, and fully functional mega dealer processing is available.

Direct Flooring

Your operational efficiency is improved through our simplified input process when setting up new Floor Plan units. The user may default values on new unit set ups based on the type of unit (new, used, demonstration, etc.). This function is completely online. Create unique credit lines for your dealer network and allow for different credit lines for various product types. The system will indicate any duplicate VIN numbers that exist online. Override facilities are provided when a new unit is over the dealer or mega dealer’s credit line amount and we will ensure compliance with bank lending policies.

Robust curtailment features allow you to customize the principal payment process on any unit. Fixed curtailments and percentage of original or current balance curtailments can be established. The curtailments can also have limited and deferred schedules. Automatic loan number defaulting will speed up unit booking tasks.

One-Time and Recurring Fees

The Wholesale Floor Plan Lending system does not limit your ability to charge fees at any or all levels of the commitment and/or loan structure. Improve your portfolio’s profitability by setting up fee structures that apply to a specific dealer relationship. You can set up one-time fixed/variable fees or recurring fees that maximize your profitability. There is also the means to assess and reverse various fees on each Floor Plan unit/credit line. We allow for rescheduling of repayment terms for a wholesale/Floor Plan unit at maturity or any time during the loan term. Shaw Systems interfaces with automated electronic banking systems for payment collection and funding, creating greater efficiency throughout your dealer network.

Floor Plan Billing and Payment Processing

We significantly reduce the time and effort required for administration and settlement via our concise monthly statements. For each statement period a detailed analysis of all activity is printed for each dealer. Additionally, various rollup statements can be provided. The dealer can pay the statement in its entirety, pay only past due payments, or pay current due payments. The dealer can also choose to pay principal, [gs Interest]interest[/gs], and/or fees on any given bill. Once billed, payments to principal, interest, or fees can also be deferred. Statistical data is available for each dealer and will be rolled up to the dealership and mega dealer level.

Floor Plan Nonaccrual / Charge-Off Processing

Units that have become nonperforming assets can easily be tracked and reported.

Dealer Payoffs and Overpayment Processing

Specialized processing exists to handle situations specifically when Floor Plan units are paid off or are overpaid by the dealer. Operational efficiency was the key thought behind this processing: It is very simple to remove overpayments, and tracking and reporting of these exception situations is available.

Floor Plan Class/Dealer Transfers

Shaw’s Wholesale Floor Plan Lending System offers a quick transfer capability that will automatically move various dealer units to different classifications. You can move one unit or hundreds using this capability. You can also transfer an entire dealer’s inventory to another dealer using a simple online screen.

Floor Plan Reporting

Efficiently manage large volumes and maintain accurate inventory control. Track past due amounts and manage dealer due dates for every credit line. Capabilities include complete journal transaction posting including interest calculations and promotional items. A multitude of reports are available to track portfolio activity and credit risk. Preserve the dealer’s credit lines along with a complete history of any changes.

Floor Plan Unit – Mass Maintenance

Flexibility is a must when processing Floor Plan units. A dealer’s business changes rapidly, and we provide a way to adjust all necessary fields that apply to an individual unit’s class (new, used, etc.). Through an easy-to-use procedure you can process changes en masse that affect a particular dealer’s portfolio. Save hours in input time by using this convenient feature. Maintain [gs Index Rate]index rates[/gs] and systematically initiate rate changes on the loans when things change.

Floor Plan Securitization

The ability to securitize any loan asset is a requirement in today’s ever-changing financial world. Individual Floor Plan lines can be pooled and sold through a particular asset sale.

Our strengths are most evident in areas such as platform independence, portability, Internet architecture, and support. With Shaw’s Wholesale Floor Plan Lending application, you’ll deliver a high level of service to your dealers with valuable information and faster response.