Action Craft Boats said it is partnering with the Tampa, Fla.-based Suncoast Credit Union to secure a U.S. Small Business Administration loan in an effort to match production with demand.
"We're ramping up production to facilitate expanding our dealership network outside of Florida," Action Craft Boats president Chad Kovarik said in a statement. "The SBA loan provides us the ability to invest in manufacturing innovation to build a superior boat, and better balance supply and demand."
Action Craft Boats, of Cape Coral, Fla., was purchased in 2012 by CK Prime Investments and the builder of bay and flats boats said it has seen growth under its new ownership and management.
"From 2013 through 2014, we grew revenue 71 percent," Kovarik said. "And for 2014 to 2015, I anticipate another additional 30 percent."