Skip to main content

South Florida marine industry meets with SBA official

The Small Business Administration is traveling the country meeting with frustrated business owners and South Florida's boating industry vented its concerns in the latest stop in Miami.

Esther Vassar, national ombudsman and assistant administrator for regulatory enforcement fairness, heard from many small-business owners in the Sunshine State who are concerned about tight credit markets, red tape and complex regulations, the South Florida Business Journal reports.

Frank Herhold, executive director of the Marine Industry Association of South Florida, brought his message about his organization's displeasure with a pilot program that offers government-guaranteed loans to finance inventory for eligible boat, auto, recreational vehicle and other dealerships.

As the economy began to stumble, most lenders stopped servicing the marine industry, leaving boat dealers with limited or no access to credit.

"The program has a lot of potential. However, a one-year pilot program is a deterrent to lender participation. Here we are, just getting a new program off the ground, and there is a September deadline staring us in the face," Herhold said. "Ms. Vassar was very receptive to our concerns and I believe she will look into an extension of this SBA pilot program."

Click here for the full article.

Related

1_SUNTEX

Suntex Expands Into California

The marina owner-operator purchased Seaside Boatyard & Marina in Oxnard, Calif., its first California acquisition.

1_MIA

MIA Announces Sponsorship

The Marina Industries Association has named The Jetty Specialist as a bronze sponsor of group.

1_ABYC

ABYC Opens Standards Week Registration

The organization will hold its annual safety standard conference Jan. 9-13, 2023, in New Orleans, La.

1_DEALER.OUTLOOK

Alleged Tournament Cheats Face Possible Legal Action

Approximately 8 pounds of lead was found stuffed inside fish entered into the contest by two men from Pennsylvania and an Ohio.

1_BOATHOUSE

The Boat House Group Announces Merger

The transaction will add two Wisconsin dealerships and several sales, storage and service locations to the group’s portfolio of properties.

1_GLBBS

GLBBS Breaks Ground on Tech Center

The Michigan-based marine trades school will commence construction of a 10,000-square-foot training facility in the second quarter of 2023.