Coinciding with Wisconsin-based First Business Bank making headway in the South with its floorplanning, digital auto auction marketplace EBlock announced a key partnership with Kinetic Advantage, a provider of floorplan technology.

With soft wholesale volume and high prices in the lanes, EBlock and Kinetic Advantage said this week through a news release that their partnership will help dealers to search for new sources to replenish their inventory. Their agreement integrates Kinetic Advantage into the EBlock checkout.

“This partnership is a win for our customers in the U.S. Kinetic is a strong floorplan and capital funding source which increases the capabilities of our customers to source the much-needed inventory they seek,” said Jason McClenahan, president and chief executive officer of EBlock parent company E Inc., which operates in both the U.S. and Canada.

EBlock’s online auction is geared to empower dealers, wholesalers and independent auctions to buy and sell inventory in less time and in a real-time virtual auction that creates the sense of urgency and energy found in a live auction.

Kinetic Advantage said its core focus is helping its independent dealer partners and team members succeed while providing them with an exceptional and engaging user experience. Kinetic added that it’s committed to forging strong partnerships through transparent communication and simple, innovative solutions.

“Kinetic is very pleased to partner with EBlock as a source for inventory to our independent dealers in the U.S.,” Kinetic Advantage president and CEO Marty McFarland said in the news release.

“EBlock has a proven track record in Canada and is experiencing exceptionally strong growth in the U.S. Coupled with Kinetic’s fast growth and best-in-class service I expect our dealers will greatly benefit from this new partnership,” McFarland went on to say.

First Business Bank lands dealer client in Mississippi

Before 2021 finished, First Business Bank announced the closing of a $4 million inventory floorplan line of credit for Direct Auto, an independent dealer in Mississippi, through First Business Bank’s Floorplan Financing group.

First Business Bank’s Floorplan Financing team offers independent dealers the flexibility to finance their inventory 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 dealers.

According to a news release, Direct Auto owners Art Hadler Jr. and Michael West were especially pleased with the unique combination of responsive, reliable service and competitive floorplan programs available through First Business Bank.

“We were very impressed with First Business Bank’s Floorplan Financing team, their knowledge, and the bank’s commitment to the industry,” West said. “They’ve made it as easy as possible to work with them with quick loan decisions and competitive interest rates. We’re very pleased.”

With a reputation for valuing long-term partnerships, First Business Bank’s Floorplan Finance team strives to provide purchasing flexibility and opportunity to drive growth.

“We’re excited to work with Direct Auto,” said John Goodyear, who is vice president of floorplan financing at First Business Specialty Finance, a subsidiary of First Business Bank. “They have a great, successful dealership and are really energized about our partnership and what we offer in the industry. We are pleased to help them grow their dealership in the years to come.”