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.

NMBA names 2013 officers

The National Marine Bankers Association elected Peggy Bodenreider, Jim Coburn and Mike Smith to serve three-year terms on the association’s board. The 2013 NMBA officers will be Michael Bryant serving as president Peggy Bodenreider as vice president, Jayme Yates as secretary and Bill Otto as treasurer.

GE Capital invests in certified-dealer program

GE Capital’s recently announced contribution to the Grow Boating effort will be dedicated to the Five Star Dealer Certification Program. “We’ve invested a lot in that. We just believe in and do business with a lot of dealers who are in the process of becoming certified,” GE Capital marine group president Bruce Van Wagoner told…more

NMBA survey reports more lending in 3Q

A report issued by the National Marine Bankers Association shows increased lending through the third quarter of 2012, but it also suggested that credit criteria were growing more stringent. “The survey results reflect the slow road to recovery that I spoke about in my presentation at the International BoatBuilders’ Exhibition and Conference,” NMBA director Jim…more

MRAA offers regulatory compliance guide

NEWPORT, R.I. – In coordination with discussions at the National Marine Bankers Association conference about increasing federal regulations on the banking industry, the Marine Retailers Association of the Americas released a Federal Regulatory Compliance Guide. The Dodd-Frank Act contains eight regulations that pertain to marine dealers, but to go in and pick out the small…more

Marine bankers battle regulatory hurdles

NEWPORT, R.I. – Federal regulations were a big topic Monday during the National Marine Bankers Association conference here. Michael Benoit, a partner at Hudson Cook LLP, told attendees that Title 10, or Dodd-Frank legislation, has made it possible for more government oversight and regulation. The fear of earning unwanted attention from overseers will begin to…more

Boston bank adds marine financing

First Trade Union Bank announced rejoined the yacht-financing market and hired a senior executive to manage its yacht-financing program. The bank named Jim Velez senior vice president/yacht lending and said he will be responsible for expanding its consumer lending portfolio in that business. The bank said Velez, who lives in Fort Lauderdale, has more than…more

NMBA annual conference starts Sunday

The National Marine Bankers Association’s 33rd annual conference opens Sunday in Newport, R.I., with a board of directors meeting and a reception in the evening. The conference, which will run from Sunday through Wednesday at the Newport Marriott Hotel, will feature new speakers and seminars in an effort to teach attendees something new, according to…more

Nautic Global Group agrees to floorplan deal

GE Capital’s Commercial Distribution Finance business announced that it will be the strategic floorplan finance provider to Nautic Global Group. The jointly developed program is available immediately to all Rinker, Hurricane, Godfrey Pontoon and Polar Kraft dealers in the United States, according to a statement. The program will provide Nautic dealers with specialized, vendor-subsidized financing…more

GE Capital issues report on Canadian marine industry

GE Capital’s Commercial Distribution Finance business released its outlook for the Canadian marine, recreational vehicle and motorsports industries. In general, each is performing well, with volume growth and relatively healthy inventory turns despite some regional variations, according to GE Capital. Wholesale shipments through the end of May increased by double digits compared to the same…more

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Boat loans are changing with the times

It’s not a return to the days of easy money, but financing is readily available and approvals are up Trends in the marine credit market might not be stellar, but they are encouraging. Credit is available for boat loans, interest rates are at historic lows, loan criteria are easing a little and a few more…more

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