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.

Financier offers program for factory-direct sellers

As the industry’s distribution and sales models continue to evolve, Dealer Financial Services Group is adapting its financing programs. DFSG, a division of Newcoast Financial Services, will make available to manufacturers that sell factory-direct to consumers the same retail finance program offered to its dealers. “[The program] gives manufacturers a retail outlet and all the…more

New floorplan financer enters the industry

A new name – Nova Financial Services – has entered the marine industry as a source of floorplan financing for builders and dealers, the company told Soundings Trade Only this morning. With the backing of Bronlen Financial Group of Arizona, the new Birmingham, Ala.-based company has started working with a few builders on floorplan financing,…more

Column: On the trail of bankers’ bonuses

There is a question about what happens to the bonus money bankers receive this year. Will they return to flashy spending or invest it more conservatively, Paul Sullivan asks in his recent New York Times column. Bonus pools are climbing again. Goldman Sachs recently disclosed that its average employee would receive nearly $500,000 in bonus…more

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Trade groups elect officers

Karen Trostle, of Sterling Acceptance Corp. was elected president of the National Marine Bankers Association. Also, Chris Renn, of U.S. Bank, is a new director; Peggy Bodenreider, of Maritime Capital Group, was re-elected as a director and assumes the role of vice president; Bill Otto, of Lake Effect Financial Services, and Mike Ryan, of M&T…more

Global Marine Boats secures new wholesale credit

Gulf Coast Capital Partners announced that one of its affiliates has extended a credit facility to Global Marine Boats in order to pursue single-asset and portfolio opportunities in the recreational marine industry. The new facility will provide Global Marine with capital to expand its marine wholesale business. “We are excited to be partnering with Global…more

Small business 2009: success and failure

This year was challenging, to say the least, for many U.S. small businesses. However, while many floundered, there were some that managed to thrive in 2009. The New York Times reports that some businesses were helped this year by the Export-Import Bank, the official American export credit agency, which guarantees loans and provides insurance and…more

2010 forecast: Consumers will save before spending

As the economy recovers, expect a new consumer to emerge, one who is value-conscious, savings-minded and wary of debt. That was Gina Martin Adams’ forecast of consumer attitudes Nov. 10 at the National Marine Bankers Association Annual Conference in Hilton Head, S.C. The Wells Fargo Securities economist said these are American consumers not seen since…more

NMMA president addresses NMBA conference

For those who look for them, signs of an economic recovery are emerging from the fog, but that recovery is likely to be slow and this winter could be a tough one for many builders and dealers. “Gross domestic product grew at an annualized rate of 3.5 percent in the third quarter,” said Thom Dammrich,…more

Brunswick CEO addresses NMBA conference

“Whoever’s got cash is ultimately going to be the winner.” That’s the first rule for surviving these troubled times, and it has been the principal focus of Brunswick Corp.’s strategy for coming out of this recession whole, said Dustan E. McCoy, Brunswick chairman and CEO in his keynote address Monday at the National Marine Bankers…more

NMBA conference under way in South Carolina

The 30th annual National Marine Bankers Association conference started Sunday in Hilton Head, S.C. Brunswick Corp. chairman and CEO Dustan McCoy is scheduled to give the keynote address at the event. McCoy will discuss his views on when and how the marine business will recover. His presentation will correspond with the various business sessions focusing…more

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