Sheffield Financial and ICON EV. announce new multiyear retail financing contract
Sheffield Financial, a division of Truist Bank, and ICON EV have entered into a multiyear financing agreement to facilitate consumer financing for ICON's dealer network. This partnership aims to enhance the ICON brand while providing flexible financing solutions, which will benefit both consumers and dealers. Sheffield Financial, which has financed over $30 billion in loans since 1992, will offer services across all 50 states for outdoor power equipment and power sports. Truist Corporation, the parent company, is the sixth-largest commercial bank in the U.S., with total assets of $509 billion as of December 31, 2020.
- New multiyear financing agreement enhances consumer access to financing for ICON's electric vehicles.
- Partnership expected to increase liquidity for ICON's dealer network.
- Sheffield Financial has a strong track record, financing over $30 billion in loans since 1992.
- None.
WINSTON-SALEM, N.C., March 18, 2021 /PRNewswire/ -- Sheffield Financial, a division of Truist Bank, and ICON EV., LLC (ICON), recently agreed to a multiyear financing services agreement effective immediately.
The agreement allows Sheffield to provide consumer financing services to customers of ICON's independent dealer network.
"ICON is proud to be joining an elite class of manufacturers that do business with Sheffield Financial. This partnership will further advance the ICON brand and offer consumers fast, easy and flexible financing solutions through Sheffield. Not only is this a benefit for the consumer but also our dealer network by creating liquidity downstream. We look forward to doing business with Sheffield for many years to come," said Steven Gianfilippo, ICON CFO.
"We're excited to partner with ICON and provide financing for their versatile electric vehicle models," said Jeff McKay, Sheffield Financial CEO and head of point-of-sale lending for Truist. "Sheffield is committed to providing innovative financing solutions, friendly service and quick credit decisions for our manufacturers, dealers and customers."
About Sheffield Financial
Winston-Salem, N.C.- based Sheffield Financial is a division of Truist Bank, Member FDIC, which is a subsidiary of Truist Corporation (NYSE: TFC). Sheffield, which has financed more than
About Truist
Truist Financial Corporation (NYSE: TFC) is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of
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SOURCE Sheffield Financial, Inc.
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