The following was written by Sean Busking, executive director of ACRA, to Karen Mills, the administrator for the U.S Small Business Administration (SBA).
Dear Administrator Mills:
On behalf of the Board of Directors and member companies of the American Car Rental Association, I am writing for two reasons:
1) To commend you on your dealer floorplan financing pilot program being launched by the Small Business Administration, and
2) To suggest you consider including the auto rental industry, also made up of countless small businesses, in the July 1—September 30, 2010 pilot program.
The simple truth of the matter is, the auto rental industry is the single largest purchaser of new vehicles and is directly affected by the same challenges as those of the dealers as a result of the uncertainty of the auto industry. Were you to include the auto rental operators in the pilot program, you would not only help to reverse the 27-year lows in slumping auto sales, you would be allowing the auto rental industry a plan to help us help you.
Linked is the letter penned by our President Bob Barton, and sent to the leaders of Congress. The American Car Rental Association and its members are ready willing and able to help, but the credit markets must react to help us all. We have hundreds of members that are all small businesses throughout North America; they all need fleet financing as well.
Thank you for your consideration.