Marine lenders are seeing a drop in third-quarter new-boat sales.
NMLA and Lending
The National Marine Lenders Association is a trade association of boat lending specialists. Members include financial institutions such as commercial banks, private financing firms, savings and loan companies, credit unions and retail service companies. Members extend or originate credit to consumers, retailers/dealers and makers of recreational boats and equipment.
Jim Meere was given the National Marine Lenders Association’s service award during its recent 36th annual conference in Naples, Fla.
A relatively steady economy and boat market converged for many marine lenders during the 2015 model year, yielding encouraging bookings and profitable underwriting.
Bruce Van Wagoner is managing director and president of the Commercial Distribution Finance marine group at GE Capital, the marine industry’s major wholesale lender. He leads a team of employees focused specifically on the marine industry, funding thousands of dealers in support of the sales of virtually all of the major manufacturers. Van Wagoner says…more
The National Marine Lenders Association is holding its 36th annual Marine Lenders Conference from Sunday through Tuesday in Naples, Fla.
GE Capital’s commercial finance unit, though up for sale, is expanding its financing program with Bass Pro Shops and Tracker Marine to cover Fishing Holdings LLC, a brand bought out of private equity last year.
Vantage Recreational Finance, a marine and RV finance company, launched a national dock and lift consumer financing program.
The nation’s leading financial news publications are reporting that potential buyers for General Electric commercial lending arm GE Capital include Wells Fargo & Co., Blackstone Group LP, Mitsubishi UFJ Financial Group Inc. and Apollo Global Management.
The marine industry’s major wholesale lender announced that it will sell its business to simplify operations.
The marine industry’s behemoth floorplan lender increased several credit lines in the last year or two as boat sales continue their steady, albeit slow ascent and confidence rises among consumers and dealers.