Issue link: https://read.dmtmag.com/i/173871
LIST Finance & Insurance g/ in nc ine il na ar ce ta er e Fi M ur r/R g le in Sin ct ng sa ing me cin ed nce fa nci u le r u lv ns an ho o vo a an na Description of Services W Flo Co Fin In Fin M Fi Finance Source Contact Person Address Phone/ Website/ Email MEDALLION BANK John Haymond 1100 East 6600 S, Ste. 510 Salt Lake City, UT 84121 866-688-6983 www.medallionbank.com jhaymond@medallion. com 2003 Yes No No Medallion Bank specializes in financing marine customers with previous credit challenges and past bankruptcies. MERRICK BANK Scott Anderson P.O. Box 1500 Draper, UT 84020 888-545-3888 www.merricklending.com scott.anderson@ merrickbank.com 2004 Yes No No Merrick Bank provides non-prime indirect retail financing with competitive rates and dealer participation. Merrick specializes in customers with past credit problems and will help secure more deals for your dealership. NEWCOAST FINANCIAL SERVICES Kyle Vollenweider 18167 US 19 N, Ste. 300 Clearwater, FL 33764 866-639-2627 ext. 14552 www.newcoast.com kyle@newcoast.com 1992 Yes No No Nationwide provider of marine and RV retail finance. NORTHPOINT COMMERCIAL FINANCE Russell Basqir 11675 Rainwater Drive, Ste. 450 Alpharetta, GA 30009 866-781-2420 www.northpointcf.com rbaqir@northpointcf.com 2012 No Yes No Northpoint Commercial Finance is a diversified, floorplan finance company with a strong commitment to serving the marine industry. Northpoint combines experience, innovative technologies, fresh ideas, streamlined processes and a customer focus. PRIORITY ONE FINANCIAL SERVICES Nicole Armstrong 742 Second Ave. S St. Petersburg, FL 33701 800-747-6223 www.p1fs.com success@p1fs.com 1987 Yes No No Priority One is a leading national full-service F&I outsource company, providing multiple lenders and specialize F&I packages for your customers. SEACOAST MARINE FINANCE Lang Ryder 1800 SE 10th Ave. Fort Lauderdale, FL 33316 954-630-3430 N/A Yes No No Financing from $50,000 to $20 million. www.seacoastnational.com STERLING ACCEPTANCE CORP. Karen Trostle 1987 Yes No No Boat financing, Coast Guard documentation and insurance services offered. TCF INVENTORY FINANCE, INC. TRIDENT FUNDING CORP. WOLTERS KLUWER FINANCIAL SERVICES lang.ryder@seacoast national.com 1 Melvin Ave. Annapolis, MD 21401 www.sterlingacceptance.com Bob Bejesky 1475 E. Woodfield Rd., Ste. 1100 Schaumburg, IL 60173 888-872-8234 www.tcfif.com thecustomerfirst@ tcfif.com 2012 No Yes Yes TCFIF provides wholesale financing for marine dealers, distributors and manufacturers for both new and trade-in inventory. TCFIF also offers solutions beyond inventory finance, including commercial banking, equipment finance and a suite of advisory services through The Customer First Alliance. Jim Foley 1535 SE 17th St., Ste. B-207 Fort Lauderdale, FL 33316 954-525-3665 www.tridentfunding.com jfoley@tridentfunding. com 1973 Yes No No Yacht financing. 100 S Fifth St., Ste. 700 Minneapolis, MN 55402 847-778-4610 www.wolterskluwerfs. com/indirect 2009 Yes No No Online doc prep solution with electronic credit app submission and state specific compliant loan documentation that automates F&I processes for marine, RV and powersports dealerships. 410-268-1545 financing@sterling acceptance.com NMBA REPORTS IMPROVED LOAN VOLUME Lenders are reporting lending more money for boats and expect that to continue later this year, according to a recent survey from the National Marine Bankers Association. In the NMBA survey, 100 percent of all lender respondents indicated dollar volume was the same or up over the second quarter of 2012. At the same time, 92 percent of all lender respondents expected third- www.BoatingIndustry.com P40x41-BI13OCT-FinanceGuide.indd 41 quarter dollar volume to be greater than or equal to the same period last year as well — the highest level of optimism shown by this group since 1Q 2012. For the first time since 1Q 2012 lenders reported less stringent credit requirements — and dramatically so. This past quarter only 8 percent reported credit tightening, down from 20 percent in the first quarter, and 8 percent also reported less stringent credit criteria. Those reporting stricter standards mentioned liquidity and net worth requirements as the areas they felt had become more demanding. Thirty-three percent of lenders reported consumer credit quality improved in the second quarter, and that is the largest increase since 4Q 2011. October 2013 | Boating Industry | 41 9/5/13 11:49 AM