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 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

NMBA seeks presentation proposals

The National Marine Bankers Association issued a call for professional presentations at its 32nd annual conference, which is set for Nov. 6-8 at the Westin La Cantera Resort in San Antonio. “We are reaching out to the industry for presenters and speakers who have services, products or ideas that can help the marine industry through…more

GE Capital unveils trailer financing program

GE Capital’s Commercial Distribution Finance business announced two initiatives to demonstrate its commitment to the trailer industry. It launched a financing program for dealers of all types of trailers that will extend suppliers’ standard financing terms by 60 days; this includes dealers in the cargo, race car, horse, marine, dump and flatbed markets, among others.…more

GE Capital extends Formula Boat floorplan deal

GE Capital’s Commercial Distribution Finance business announced a renewed agreement with Porter Inc. to provide floorplan financing options for dealers purchasing its Formula Boat brands. “As one of the premier boatbuilders in the world, we are pleased to offer GE’s financing program to our family of Formula dealers. We have been working with GE Capital…more

Merrick Bank joins credit network

Wolters Kluwer Financial Services announced that Merrick Bank joined its AppOne platform. AppOne automates the indirect lending, credit approval and compliance processes for lenders and the marine, auto and RV dealers they work with. Merrick, a national leader in providing boat, RV and motorcycle loans for customers with past credit problems, works closely with dealers…more

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