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First Business Offers Floorplan Financing Through ACV Auctions’ Digital Platform

December 09, 2020, 07:05 AM
Filed Under: Industry News

First Business announced a new agreement with ACV Auctions to offer Floorplan Financing through ACV Auctions digital auction site. The partnership allows independent used car dealers who have earned competitive pricing and upscale service to purchase inventory through ACV Auctions with their First Business floorplan.

“Our team is thrilled that First Business clients can now floorplan their auction purchases directly through ACV Auctions, one of the largest and most popular digital wholesale car auctions in the world,” said Jeff Widholm, Managing Director of First Business Floorplan Financing services. “ACV Auctions also believes in a quick, efficient client experience, aligning with our team’s goals.”

First Business’s Floorplan Financing services offers independent car dealers the flexibility to finance their used car purchases, preserving cash flow and allowing them to buy preferred inventory. Floorplanning programs are available from $500,000 to $10 million for larger, well-established independent car dealers. This limited focus, a hallmark of First Business’s business model, facilitates a smaller clientele than large competitors, empowering personalized concierge service.

Floorplan Financing services are offered through First Business Equipment Finance, LLC, a subsidiary of First Business Bank.

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