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Sheffield Financial and ICON EV. announce new multiyear retail financing contract

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 $30 billion in loans since its founding in 1992, currently services more than 15,000 outdoor power equipment, power sports and trailer dealers nationwide. The company provides retail financing options in all 50 states for outdoor power equipment, trailers and power sports equipment, such as snowmobiles, all-terrain vehicles, side by side vehicles, motorcycles and personal watercraft. For more information about Sheffield Financial, visit SheffieldFinancial.com.

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 $509 billion as of December 31, 2020. Truist Bank, Member FDIC. Learn more at Truist.com.

SOURCE Sheffield Financial, Inc.

For further information: Susan Andersson, Senior Vice President, Sheffield Financial, 336-766-1388, or David White, Truist Corporate Communications, 336-733-14721, or Steven Gianfilippo, Chief Financial Officer, ICON EV, LLC, 866-426-6380
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