Capital One recently announced that it provided a $12 million floor plan revolver to Fahrney Automotive Group in Selma, Calif. Capital One also provided a $10.4 million construction line of credit that will enable the group to house each of its three franchises in separate facilities. 

“This is the first construction loan in California for our automotive dealer commercial services business,” said Michelle Carriere, senior vice president and manager of Capital One’s Commercial Dealer Services Group.  “We have grown the national reach of our business in the past few years, and we’re also expanding our capabilities to serve the full range of financing needs for our clients.”

The group’s Toyota dealership — Toyota of Selma — will move from its current building to the new facility, which will be located adjacent to Highway 99 — the major conduit between Fresno and Los Angeles.

Fahrney Buick/GMC, which shares a building with Swanson-Fahrney Ford, will move to the old Toyota building and be renovated to General Motors’ brand standard.

The Fahrney Group is owned by Jerry and Don Fahrney and is celebrating its 60th anniversary this year.

“We pride ourselves on delivering quality financing that meets each customer’s unique needs,” said Linda Grissinger, vice president and regional sales manager for Capital One Commercial Bank. “Timing was a critical element for this deal and, from the outset, we worked closely with the Fahrney Group to ensure that we could successfully execute the transaction and enable them to move forward with their planned expansion.”

The new Toyota facility will be one of five locations in California with a jewel box, a two-story glass enclosure that dealerships use to showcase vehicles. It will serve as a landmark for the more than 68,000 people who will pass the new facility each day.

Jerry Fahrney added, “We’re a family business and we value relationships.

“Throughout the transaction, Capital One demonstrated a level of responsiveness that truly showed their dedication,” he went on to say. “At the same time, we appreciated the fact that they had the capacity to meet all of our financing needs in a single transaction.”

Capital One Bank’s Commercial Dealer Services Business can provide a wide array of banking and lending solutions to franchised dealerships, as well as provide dealerships with strong retail support through Capital One Auto Finance.

Capital One Commercial Bank leverages a relationship-based banking model that can deliver an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.