Ally Financial bolsters Vroom’s floorplan facility

The bank extended the credit line to $700M, up from $450M

Photographer: Bloomberg/Bloomberg

Ally Financial has increased Vroom’s floorplan line of credit to nearly double its former amount as the online used-car retailer looks to continue its growth trajectory in 2022. The floorplan line of credit, which is scheduled to expire Sept. 30, 2022, was increased to $700 million, up from the original $450 million, Vroom announced Monday. […]

Already subscribed? Click below.

Exit mobile version