Updated:
Original:

NMMA pushing for floorplan financing relief

The National Marine Manufacturers Association is urging federal officials to include marine floorplan financing loans in a new consumer and business lending initiative called the Term Asset-Backed Securities Lending Facility.

TALF is designed to reignite securitization markets by providing financing to investors to support their purchases of certain AAA-rated asset-backed securities. The first round of the TALF program will apply to auto loans, credit card loans, student loans, and SBA-guaranteed small-business loans.

A second round of funding may include AAA-rated asset-backed securities backed by non-auto floorplan loans.

The NMMA has issued an Action Alert encouraging members and other interested parties to join the lobbying effort. Including marine floorplan financing in the TALF initiative would provide important new liquidity to this credit market and help relieve the mounting pressure on marine retailers and dealers, according to the NMMA.

Click here to contact members of Congress, the Treasury Department, and the Federal Reserve Bank of New York.

Click here for the full release.

Related

Dealers: Has M&A Activity Affected Your Brands?

Examining dealer impacts of marine industry mergers and acquisitions.

Leadership Summit 2021

On September 27th, 2021, Soundings Trade Only hosted a Leadership Summit led by business executive and Chairman of Thinkshift, Dr. Balaji Krishnamurthy.

ABYC, CG Launch Event Series

The first one-day session in the free, online Risk Mitigation Series is scheduled for Nov. 9 and will cover electric propulsion and related topics.

ePropulsion Expands Team

The China-based electric outboard manufacturer added a marketing director for its Hong Kong office and doubled its service staff.

Limestone Responds to Market Conditions

The builder of the Aquasport, Limestone and Boca Bay brands announced increased production, a new director of marketing and potential additions to its dealer network.