First-time, small dealers struggle with floorplan loan approvals

Man in cowboy hat and jeans stands next to truck in a car dealership. — Josh Letsis was denied floorplanning loans and was unable to purchase a General Motors dealership this year. (COURTESY OF JOSH LETSIS)

Last Updated

November 03, 2024 11:00 AM

Josh Letsis, who first aspired to become an auto dealer 27 years ago when he started selling Hondas at an Oregon City, Ore., dealership, thought he had found his dream.

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