Camping World expanded its floorplan funding under a new agreement. The new deal with Bank of America and JPMorgan Chase raises Camping World’s floorplan funding by 17% and increases its credit line access.
The dealer chain, which operates 214 stores nationwide, opened its floorplan facility with the two lenders in 2005. The revised agreement increases the company’s borrowing capacity to $2.15 billion, a $300 million increase from its previous deal.
Camping World Chairman and CEO Marcus Lemonis said, “For over 30 years, led by Bank of America and J.P. Morgan, this facility has allowed us to build our company into what it is today, providing us with greater runway for future dealership growth and additional capacity to expand relationships with leading OEM partners, including Thor, Forest River and Winnebago.”
The new agreement includes a $45 million letter of credit, a 50% increase from the previous $30 million line. According to the deal terms, the credit line can be expanded to a maximum of $70 million.
The floorplan facility had been set to expire Sept. 30, 2026, but now is extended through Feb. 18, 2030. Both sides have options to shorten the maturity date to March 5 under the new deal’s terms.
“Today’s agreement demonstrates the confidence that our lenders have in Camping World’s recent performance,” Lemonis said, “fortified balance sheet and rigorous inventory management.”
Although acquisitions slowed in 2024, Camping World has been in growth mode since 2023.
In May 2023, Camping World revealed plans to grow its stores by 50% over five years. Later that year, Lemonis upped the goal, saying he wanted to total 320 stores by the end of 2028.
