First Business launches dealer floorplan financing group, hires veteran team & invests in Wholesale Finance technology

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First Business Financial Services, a commercial-focused business bank based in Madison, Wisconsin, recently celebrated the launch of their floorplan finance line using Solifi’s (formerly White Clarke Group’s) Wholesale Finance Software.

Floorplan Financing is the latest expansion of First Business’s specialty finance solutions, offering floorplanning programs 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.

This strategic business initiative is the latest expansion of First Business’s specialty finance solutions, offering floorplan programs from $500,000 to $10 million dependent on dealer size. The development is spearheaded by industry veterans Jeff Widholm, Amanda Schreeg and John Goodyear, each serving respectively as new Managing Director, Servicing Manager, and VP of First Business Floorplan Financing.

“Joining First Business has been an exceptional experience,” Widholm said. “First Business is a perfect alignment for how we differentiate ourselves from our competition — through concierge service, expertise, and competitive pricing. We have also invested in technology partnering with Solifi, implementing their leading floorplan finance software to manage our business.

“Solifi’s solution provides us with advanced automation and will streamline our operational activities, enabling our team with the capabilities to support our dealers with the superior customer service experience required to compete in this market. The combination of our experience and class-leading technology is a promising start to First Business’ journey into floorplan finance.”

Jay Edwards, [former] SVP Business Development at Solifi, added: “Solifi continues to see strong interest from regional and community banks in offering locally-supported floorplan finance options. Having a scalable, product-specific software is an absolute must-have for maximizing profitability and mitigating risk. We’re very pleased to add another successful implementation of our Wholesale Finance Software to our growing portfolio of customers and look forward to supporting our new client as they develop their business.”

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