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.

Marine lenders see slow growth in 2012

Marine lenders gathering for the annual National Marine Bankers Association conference described the last year as one of growing interest in loans, with a moderate increase in bookings through the early fall boat show season followed by a stall in mid-to-late October. “This slowdown was likely precipitated by the global financial crisis and a related…more

Doral Marine unveils floorplan financing

Canadian boatbuilder Doral Marine is offering its U.S. and international dealers a new floorplan financing plan with Northstar Trade Finance. “Doral confirmed with Northstar Trade Finance because they are a specialized institution in foreign buyers credit since 1994,” Doral said in a statement. Doral is one of Canada’s largest builders of sport yachts, express cruisers…more

NMBA report notes increase in boat loans

Although 2010 proved to be a challenging year for many members of the National Marine Bankers Association, some showed recent signs of increased marine loan activity, according to the group’s recently released 2011 annual report. Based on 2010 data, the report discusses how low consumer confidence and a high unemployment rate have affected the industry.…more

Marine lenders announce change

Phil Swaun, from the Swaun Funding Group, has joined Newcoast Financial Services as it’s Northeast regional manager. “Newcoast is one of the largest and most respected marine finance companies in the industry,” Swaun said in an e-mail to dealers announcing the move. “They have every funding source available in today’s marketplace, which will increase approval ratios. I…more

NMBA mourns longtime executive

The board and members of the National Marine Bankers Association announced the sudden passing on Aug. 20 of their colleague Jesse Bragg. Bragg was a consumer finance executive with more than 30 years of service with Bank of the West, its predecessors and Essex Credit Corp. “Jesse was instrumental in the turnaround, positive growth and…more

NMBA survey shows credit loosening

A recent survey by the National Marine Bankers Association shows all respondents to a second-quarter survey indicated that lending criteria (credit history, asset/net worth, debt ratio, income, collateral and other lender requirements) are the same or even less stringent than in the prior quarter. Eighty-five percent of respondents indicated that the dollar volume of loans…more

Survey: CFOs optimistic about economic growth

U.S. chief financial officers of middle-market companies are becoming more positive about the state of the industry where they operate, as well as the outlook for growth, according to a GE Capital survey. The latest survey showed that their level of optimism has increased substantially since they were first surveyed in January of 2010. “As…more

Website offers new loan options

MoneyAisle.com launched an online auction place for consumers to get competitive rates on unsecured personal loans and financing for boats and recreational vehicles. MoneyAisle.com uses its reverse auctions to tap into more than 200 banks and credit unions to get the best rates for auto loans and refinancing, bank CDs and high-yield savings accounts, the…more

GE Capital unveils online inventory tracker

GE Capital’s Commercial Distribution Finance is enhancing its online business intelligence tool for technology distributors and the manufacturers of large-ticket durable goods, the company announced. Analytics Online provides detailed metrics and real-time reports on retailers in more than 10 industries, including marine, motorsports, electronics and appliances, and lawn and garden. “If we find that models…more

Survey shows increase in marine loans

All respondents to a recent survey by the National Marine Bankers Association said the dollar volume of loans booked in the first quarter of 2011 was up from the same period last year. The survey, conducted earlier this month, was done to gauge changes in the lending environment and identify trends that could be used…more

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