Revised NMLA resource targets new and prospective recreational marine lenders
The National Marine Lenders Association released its latest review of the U.S. marine lending industry at MRAA’s Dealer Week Conference in Tampa, FL. titled A Fresh Look at Marine Lending, the 16-page brochure reveals current facts and perspectives about marine finance and its association with the recreational marine industry.
The document targets commercial banks, credit unions and all consumer lenders seeking new opportunities to secure high-quality marine loan assets and relationships within their businesses.
“We have enjoyed solid expansion in all areas of consumer and floor plan marine lending over the past nine years”, says NMLA’s President John Haymond of Medallion Bank in Salt Lake City, UT. The revised edition of Fresh Look discusses why it is beneficial to finance boats and what resources are available nationwide. Haymond adds, “The business of recreational boating remains healthy with a solid future outlook. Our information is designed to be shared at each lenders’ executive level to support strategic planning for asset growth.”
Fresh Look is available to everyone as a written report as well as in .pdf format. The NMLA encourages sharing this information with banks and credit unions and marine industry associates of all sizes. Membership with the NMLA is also available to help promote and improve recreational marine lending through profit-driven avenues such as education, legislation, statistical data and other management tools. For more details or to request a copy Fresh Look, please contact NMLA at 410-980-1401 or email info@marinelenders.org.
About NMLA
The National Marine Lenders Association is a 501© non-profit organization that began operations in 1979. NMLA’s purpose is promoting and improving recreational lending in the United States. NMLA membership is open to financial institutions such as commercial banks, credit unions, private financing firms and service companies who extend or originate credit to consumers, dealers, retailers and manufacturers of recreational boats and equipment. Membership is also open to businesses associated with other important marine industry segments such as insurance underwriters/agents, admiralty attorneys, surveyors, title and documentation companies, recovery/remarketing agents, industry associations, software firms, valuation publications, media and industry consultants.
