GE renews contract with American Boatbuilders Association

Author:
Updated:
Original:

GE Capital Solutions’s Commercial Distribution Finance signed a multiyear contract renewal with the American Boatbuilders Association.

“We have been working with GE since 1993, and we value their commitment to the marine industry and their financing expertise. In addition to providing financing, GE’s market knowledge and data provides invaluable information to help our members manage their businesses through market fluctuations,” said ABA president Jay Patton in a statement.

GE finances a significant portion of the domestic floorplan financing for the association, which is a coalition of 12 independent U.S. boat manufacturers.

"ABA is thrilled to have GE as our lending partner. Their unique ability to bring more to the relationship that directly benefits our members is a big differentiator,” said David Slikkers, chair of the ABA and CEO of S2 Yachts, Inc., builder of Tiara Yachts and Pursuit Boats.

GE Capital Solutions’s Commercial Distribution Finance, is a leading provider of specialized financing products and services for various industries.

ABA member companies have nearly 5,000 employees in the United States, with 15 facilities in nine states. ABA companies produce more than 15 percent of all the boats larger than 16 feet that are built in America.

Related

Freedom Boat Club Expands

Through November, it has grown to more than 245 locations serving more than 55,000 members.

BRP Announces FY21, Q3 Results

While the North American market saw solid gains in the powersports segment, pandemic-related shutdowns and the retirement of Evinrude had a big impact on revenue.

Quick Hits: November 25, 2020

p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial} span.s1 {font-kerning: none} Patrick hires a new CFO; CMC Marine joins NMMA; Dometic makes names new HR VP; and Stingray Boats earns a safety milestone.

Wholesale Shipments Drop in September

NMMA: Easing supply chain constraints should enable more manufacturers to build boats.

Dealers: What’s Your 2021 Retail Outlook?

The monthly Pulse Report asks marine retailers to weigh in on November market conditions.