RICHMOND, Va. -

EY describes its Entrepreneur of the Year award as “the world’s most prestigious business awards program for entrepreneurs.” EY started the award 33 years ago, and says it is now recognized globally. It honors “the most outstanding entrepreneurs who inspire others with their vision, leadership and achievement.”

For 2019, EY announced that CarLotz co-founders Michael Bor, Aaron Montgomery, and Will Boland were finalists for the EY Entrepreneur of the Year 2019 Mid-Atlantic Award.

The EY program recognizes entrepreneurs and leaders of “high-growth companies who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities, while also transforming our world.”

CarLotz says the 2019 award will be the second time it has been honored as an Entrepreneur of the Year finalist.

Bor said in a news release that serving as a finalist for the award was an honor, but that it “demonstrates that our unique model and our ability to creatively find new end markets to serve is making a difference throughout the industry.”

He said the company has realized over time that its service is valuable to the corporate fleet vehicle remarketing industry, and that sector has since become the fastest-growing aspect of its business.

“CarLotz was founded because we were frustrated with the process of buying and selling a used car,” Bor said. “We knew that we could create a solution, an innovative approach that would make it possible for a seller to get what their car was worth, without the hassle of selling it themselves, and at the same time a way for buyers to pay below traditional dealership prices.”

CarLotz said the team was nominated for driving CarLotz’ growth trajectory and also for “the team’s ability to inspire others with their vision and leadership.”

“Since launching in 2011, Bor, Montgomery, and Boland have led the CarLotz team in the opening of multiple locations throughout Virginia, North Carolina, Florida, Illinois, and Texas,” CarLotz said in a news release. 

The EY program recognizes business leaders in more than 145 cities and more than 60 countries throughout the world. Regional award winners are eligible for consideration for the Entrepreneur of the Year National competition. EY will announce award winners, including the Entrepreneur of the Year National Overall Award winner, at the Entrepreneur of the Year National Awards event in Palm Springs, Calif. on Nov. 16. The awards are the culminating event of the Strategic Growth Forum, which EY describes as a gathering of high-growth, market-leading companies.