MRAA offers fact sheet on SBA program

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The Marine Retailers Association of America is distributing a Fact Sheet on the Small Business Administration’s 7(a) loan program.

Working with the National Marine Manufacturers Association and the National Marine Bankers Association, MRAA has been looking into government sponsored programs to help alleviate the difficulties with floorplan financing in today’s economy. One of the major programs that would have a direct application to boat dealers is the SBA’s 7(a) loan program, according to the MRAA.

News of this potential resource has generated many inquiries about the program and how it would apply to boat retailers. MRAA says the new Fact Sheet will address many of these questions.

Click here for information or contact the SBA at (800) 827-5722.

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Comments

2 comments on “MRAA offers fact sheet on SBA program

  1. Noel Osborne

    Last week it was my understanding that the SBA was entertaining offering floorplan loans to boat dealers through participating lenders and that this decision was going to be made within a day or two. I gathered this from the release by the MRAA. Is this still the case and if so when will it take effect? Maybe Phil Keeter could answer this as he is the one that I believe made the comment.

  2. shine

    Government backed loans for boat inventories, I never would have believed this a year ago.  Who is not getting in line for the cheese now.  Maybe the loans come with restrictions to only sell green boats, or boat made with the most union labor.  Inventory loans will not drive up demand for boats, not one more boat will be made/sold because of this.  They are just partially socializing the overhead and risk of dealers.

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