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.