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.

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

NMBA survey sees higher lending volume

Overall marine lending volume rose incrementally, according to a survey of National Marine Bankers Association members for the second quarter, which ended June 30. NMBA members also reported an uptick in new boat loans during the quarter, according to the survey. The spring report also marks the first reading in the last 18 months in…more

NMBA schedules annual lending conference

The National Marine Bankers Association’s 2012 lending conference will take place Sept. 9-11 in Newport, R.I. The agenda for the 33rd annual NMBA Marine Lending Conference, which will be held at the Newport Marriott hotel, will feature a number of topics that are timely and relevant to the challenges in today’s lending environment. Some of…more

Report: Showroom inventory moving faster

Inventory is leaving showroom floors twice as fast today as it did a couple of years ago. That’s according to Bruce Van Wagoner, president of GE Capital’s commercial marine lending group, who gave an address on the state of the marine industry via podcast last week with National Marine Manufacturers Association president Thom Dammrich. “That’s…more

Company debuts marine financing website

New Jersey-based Rising Tide Media LLC recently launched BoatLoans.com, a platform to help boaters secure financing online. The site will provide boaters the opportunity to complete the boat loan approval process entirely online. Rising Tide Media, which has established an online presence in website design for marine businesses, is forming partnerships to provide consumers with…more

NMBA survey points to growth in 2Q

The National Marine Bankers Association’s first-quarter members’ survey reported that 80 percent of respondents expect the second quarter of 2012 to be up from the same period of last year. The survey also shows that 100 percent of respondents believe lending criteria are the same or less stringent than during the prior quarter. This is…more

CFO survey shows optimism on the economy

U.S. chief financial officers of middle-market companies have grown more positive about the state of their industries and businesses, as well as the state of the domestic economy during the last six months, according to the latest middle-market CFO survey by GE Capital. In terms of potential threats to the U.S. economy in 2012, concern…more

GE survey shows optimism about consumer demand

Many in the marine industry said they expect sales to increase this year, according to survey results released today by GE Capital’s Commercial Distribution Finance business. Thirty-nine percent of respondents said they expect sales to increase 0 to 5 percent this year and 38 percent expect increases of 5 to 10 percent. Fifty-four percent said…more

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Signs of movement on the lending front

Two banks may enter floorplan field; dealer poll finds some relaxation of retail financing criteria Some shifts in marine lending may be on the horizon — welcome and unwelcome — in an industry that has seen little change since the early days of the recession. Some new players might enter floorplan lending on a regional…more

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