The Marine Retailers Association of America is joining the National Marine Manufacturers Association in lobbying the federal government for help on boat and floorplan financing.
The NMMA recently issued an Action Alert that urges its members to contact federal officials about adding marine floorplan loans under the Term Asset-Backed Securities Lending Facility, and including boats in TALF’s consumer lending program.
The MRAA issued its own Dealer Alert this week to encourage retailers to support NMMA’s efforts.
“The near total elimination of financial institutions from loaning money to anyone except the most highly qualified has driven the industry to the edge of collapse,” the MRAA said in its alert. “Boat production and sales are at an all-time low, employees are being laid off, and many businesses are suffering or closing.”