Ocean Bank Provides $25 Million For Auto Dealerships Floor Plans

Ocean Bank Provides $25 Million For Auto Dealerships Floor Plans

Ocean Bank announced it provided a floor plan loan of $25 million to GT Fort Lauderdale Inc. and The Taverna Collection Inc.

GT of Fort Lauderdale, which was purchased recently by Gianmarco Taverna, sells Chrysler, Dodge, Jeep, Ram and Fiat vehicles. The Taverna Collection Inc. is a pre-owned automobile dealership located in West Park, FL.

The Ocean Bank team of J.C. Barreto, Fred Tunnermann and Eddie Diaz have been instrumental in helping me achieve my growth plans," Taverna said. "They understand the transactional complexities involved and work diligently in getting the deals across the finish line."

The loan is the second financing by Ocean Bank to Taverna's dealerships. It had provided funds for the purchase of a Mitsubishi franchise in Palm Beach.

"Mr. Taverna is a true professional and an astute businessman. He has a thorough understanding of the automotive industry and the finances that are required to run a successful dealership," said Eddie Diaz, Executive Vice President and Head of Corporate Lending at Ocean Bank. "He knows how to get things done."