Skip to main content

NMLA Releases Annual Statistical Report


The National Marine Lenders Association has released its annual report, which details that loan consumers continue to fall into the 45-54 age range, and that marine loans increased significantly over the past two years with the boom in boating popularity.


Highlights from this year’s report include:

  • Marine loans, as a percentage of all consumer installment loan annual volume and outstandings, increased significantly in 2019 and 2020
  • 47 percent of borrowers in 2020 were in the $100,000 to $150,000 household income tier
  • Most respondents underwrite boat loans at credit scores of 700 and above
  • The most common down payment offered for both new and used boats was 10 percent
  • Although marine loan delinquency and charge-offs typically outperform all other consumer installment loans, respondents reported declines in both areas during 2020
  • Marine lenders are slow to adopt new funding technology, with 70 percent of respondents reporting no e-signature contracts in 2020.

Other results include that refinancing has declined in six of the past eight years and 40 percent of participating respondents reported more than half of their loan applications were taken online in 2020.

The Report is complimentary for participants and is available to non-participants for purchase by clicking here.



Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.


Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.


ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time


Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip


ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.


Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.


DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.


Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week