Camping World, the leading recreational vehicle dealership chain, has announced an amendment to its floor plan credit agreement for 2021, allowing for an increased borrowing capacity of $150 million. This move comes as the company aims to expand its store count and further solidify its position in the industry.
With this amendment, Camping World’s aggregate borrowing capacity now stands at an impressive $1.85 billion. Additionally, the company has reset the accordion feature in the facility, granting them the option to increase the principal amount available by $50 million increments, with a maximum limit of $300 million.
Marcus Lemonis, Chief Executive of Camping World, expressed confidence in this development, stating that it demonstrates their lenders’ trust in the company’s strategic direction. Lemonis also emphasized Camping World’s ambitious goal of increasing their store count by 50% within the next five years.
In recent years, Camping World has been actively acquiring local RV dealerships nationwide. Alongside these acquisitions, the company has launched new manufacturer exclusive concept dealerships that showcase various lines of RVs, such as Jayco, Winnebago, and Coachmen.
As Camping World continues to expand its presence and cater to the growing demand for recreational vehicles, this amended credit agreement will provide the necessary financial support to achieve their goals.