As part of its plan to launch its commercial lending unit in April, General Motors Financial Co. (GM Financial) has chosen DataScan Technologies as its systems provider for the business.
The Commercial Lending Services business will be offering floorplan financing; capital, real estate and construction loans; floorplan insurance and cash management programs to GM dealers in the U.S. and Canada.
GM Capital has also selected DataScan Field Services to conduct its floorplan inspections.
“As we looked to build a best-in-class commercial lending platform, aligning ourselves with industry leaders was a must,” said Brian Fallon, senior vice president of Commercial Lending Services. “When it came to selecting a provider for dealer loan systems and inspection services, DataScan had the history and experience necessary to help us develop a comprehensive program that meets the needs of our GM dealer partners.”
"We look forward to the new business relationship with GM Financial and are pleased to have the opportunity to provide them with our expertise as they launch their dealer commercial business,” said Brent Sergot, vice president and general manager of DataScan. “DataScan’s support systems and services will streamline GM Financial’s lending and risk mitigation through an easy-to-use online interface, as well as accommodate our clients’ future growth plans.”