INDIANAPOLIS -

Independent dealers who use ACV Auctions to acquire inventory now have another option for their floor planning.

On Tuesday, First Business — which just launched its floorplan service in June — announced a new agreement to offer floorplan financing through ACV.

The company highlighted that the partnership can allow independent dealers who have earned competitive pricing and upscale service to purchase inventory through ACV with their First Business floorplan.

First Business’s Floorplan Financing offers independent dealers the flexibility to finance their inventory purchases, preserving cash flow and allowing them to buy preferred inventory.

According to a news release, floorplan programs are available from $500,000 to $10 million for larger, well-established independent dealers.

The company explained this limited focus, a hallmark of First Business’s business model, facilitates a smaller clientele than large competitors, empowering personalized concierge service.

“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,” says Jeff Widholm, managing director of First Business Floorplan Financing.

“ACV Auctions also believes in a quick, efficient client experience, aligning with our team’s goals,” Widholm continued.

Floorplan Financing is offered through First Business Equipment Finance, a subsidiary of First Business Bank.

For more information, call (844) 418-2493.