The marine division of Textron Financial Corp., signed a four-year contract extension with Independent Boat Builders Inc., to continue serving as the organization’s preferred lender. The extension provides
floorplan financing through 2012 to IBBI’s membership of 28 boat manufacturers.
“Extending our relationship with IBBI is a great opportunity to build upon a shared understanding and optimism for the future of the marine industry,” said Russell Baqir, president of Textron Financial’s Marine Division, in a statement.
IBBI president Tom Broy said Textron, in the last three years, has committed to being more than just another lender to IBBI members.
“Even though the market has been declining, our volume of business with Textron has exploded over the past few years,” Broy said. “With this new program, I see that trend only continuing.”