NMBA offers financing tutorial online

Author:
Updated:
Original:

The National Marine Bankers Association launched a new Web-based tutorial today to help those in the boating industry find and develop loan sources.

The 15-minute, free webinar reviews the basics of uncovering prospective lenders on a local and regional basis and identifies ways to approach and encourage them to extend credit services to consumers and businesses.

The program also benefits those interested in improving or maintaining relationships with existing lending sources. As a compact "refresher" course on lender relationship basics, the NMBA offers a step-by-step approach to maintaining dialogue with banks and other credit entities.

"Relationship-building, communication and networking with the lending community has never been more important to the revival of the boating industry than it is today," said Jim Coburn, NMBA president and program narrator, in a statement.

"We need grassroots efforts at the local lending level to maintain, as well as uncover, new funds and this 'back-to-basics' tutorial will help marine businesses gain comfort and knowledge in working with lenders," he added.

The program reinforces that retail funding remains available, though qualifications for borrowers have been raised. Floorplan lending has been severely impacted by the current economy, so new sources, including community banks, should be approached and encouraged to serve that market.

Additionally, the association has also identified and will be contacting more than 100 lending institutions to promote the NMBA and encourage lending.

Click here to view the webinar.

Related

Distributor Expands ePropulsion Sales Territory

Mack Boring will now offer ePropulsion’s electric outboards in the entire North American and Central American markets.

Registration Still Open for NMMA Webinar

The March 4 State of the Industry webinar includes the presentation of the Marine Industry Customer Satisfaction Index Awards and the Alan J. Freedman Award.

Rollick Secures $8.5 million in Funding

The market strategists said Web traffic in the third quarter of 2020 was up 245 percent on a year-over-year basis.

Time to Cry Foul Over Erie Canal Changes

An act has been introduced in the waning days of New York’s annual budget process that allows no opportunity for public input.

Service to Send $1 Billion to State Wildlife Agencies

U.S. Fish and Wildlife Service will distribute funds to states to bolster conservation projects and recreational opportunities.

Quick Hits: March 1, 2021

Safe Harbor Newport Shipyard adds SF Marina floating dock array.

Patrick Supports Care Camps

The outdoors camps for children with cancer receive a first-time gift and marketing support from Patrick Industries.

Brunswick Creates Autonomy Position

The company promoted Jason Arbuckle to marine autonomy technology lead, with a focus on incorporating autonomous and driver-assist features into its product line.