Getting more inventory lending for dealers is NADA priority

President Obama's Automotive Task Force echoed feelings to Congress

Wanted Congress to extend TALF and expand SBA guarantees

Task force's Ron Bloom says auto industry hinges on Congressional action

Needs to help free flow of credit to dealers and auto buyers

Fed created TALF w/ TARP program to jump-start secondary loan market

TALF has helped get consumer credit moving but wholesale is struggling

NADA also wants to increase guarantee on SBA funds for dealers

"This hearing underscores a much larger problem: lenders are still too often unwilling to lend to auto dealers to buy cars and trucks for sale to their customers." -- Andy Koblenz, VP legal and regulatory affairs, NADA

"By extending the Federal Reserve's successful Term Asset-Backed Securities Loan Facility (TALF) and expanding the government's small business loan guarantee programs, we create the best environment for banks and finance companies to be comfortable lending to dealers again." -- Koblenz

"It doesn't make sense; floorplan credit is traditionally one of the lowest risk loans a lender can make." -- Koblenz

"With dealers holding on average $5 million in inventory at any one time, the $2 million loan limit for SBA-guaranteed loans simply isn't enough. Only Congress can increase these limits." -- Koblenz