Boating Industry Finance Guide
Finance Source | Contact Person | Address | Contact Info | Consumer Retail Financing | Wholesale Flooring Commercial | Mfg Financing | Description |
---|---|---|---|---|---|---|---|
Bank of the West | Daniel Swanson | 2527 Camino Ramon San Ramon, CA 94583 |
925-843-5030
www.bankofthewest.com daniel.swanson@bankofthewest.com |
Yes | Yes | Yes | Retail lending, floor planning only as part of a commercial banking relationship. |
BB&T Recreational Lending | Rick Compton | 265 W. Franklin Blvd. Floor #3 Gastonia, NC 28052-4144 | 704-852-5541
www.bbt.com rcompton@bbandt.com |
Yes | No | Yes | Full-service banking, indirect consumer financing, commercial loans and insurance products for marine dealers. |
Blue Water Finance, Inc. | Bijoy Jha | 1 N Field Court Lake Forest, IL 60045 | 866-350-2583
www.bluewaterfinance.com bijoy.jha@brunswick.com |
Yes | No | Yes |
Blue Water Finance, Inc. helps marine dealers sell and deliver more boats by providing retail financing programs with more than 12 national, regional, prime and subprime lenders. Using BlueNet, its proprietary loan processing and communication system, dealers remain close to every transaction. |
Brunswick Acceptance Company | Ed Bragg | 500 West Monroe Chicago, IL 60661 | 866-873-8232
www.gecdf.com edward.b.bragg@wellsfargo.com |
No | Yes | Yes |
Brunswick Acceptance Company (BAC) is an arrangement between Brunswick Corporation and Wells Fargo Commercial Distribution Finance (CDF). BAC offers flexible financing solutions and consistent, high-quality service to the domestic Brunswick Boat Group and Mercury Marine dealer networks. |
Dealer Financial Services Group | Vernon Blanc | 2600 McCormick Drive Ste 100 Clearwater, FL 33759 | 888-701-0056 ext. 14552
www.dealerfsg.com vernon@dealerfsg.com |
Yes | No | No |
DFSG provides retail dealer direct finance and insurance options and F&I office outsourced management. |
Epic Finance LLC | Donnie Cole | 5101 Dunlea Ct Ste. 203 Wilmington, NC 28405 | 620-202-1232
www.epicfinancellc.com Donnie@epicfinancellc.com |
Yes | No | No | Epic Finance LLC helps dealers place more loans, and specializes in subprime lending. |
First Approval Source, LLC | Myril Shaw | 6337 Lanier Islands Parkway, Buford, GA 30518 | 678-866-8954
www.firstapprovalsource.com myril@firstapprovalsource.com |
Yes | No | No |
First Approval Source provides profit generating products and services to marine and RV dealers, which include comprehensive F&I services: compliance; customer qualification and loan sourcing for all credit tiers; contract and closing document generation and delivery; and funding tracking. |
LH-Finance | Helene Baudet |
6958 Aviation Boulevard, Suite A |
443-890-9517 www.lh-finance.com info@lh-finance.com |
Yes | Yes | Yes |
LH-Finance, the marine division of United Bank (CT), offers both retail solutions to customers and wholesale financing to dealers and boat manufacturers in North America, with its experienced team dedicated to marine financing. |
Maritime Finance LLC | Jeff Johnson | 301 SE 20th St. Fort Lauderdale, FL 33316 | 954-764-3010
www.eyachtloan.com jeff.johnson@eyachtloan.com |
Yes | No | No | Maritime Finance originates quality yacht loans for a network of participating lenders. |
Medallion Bank | John Haymond | 1100 East 6600 S, Ste. 510 Salt Lake City, UT 84121 |
866-688-6983 x7176
www.medallionbank.com jhaymond@medallion.com |
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 |
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. |
Newcoast Financial Services | Vernon Blanc | 2600 McCormick Drive Ste 100 Clearwater, FL 33759 | 866-639-2627 x14552
www.newcoast.com vernon@newcoast.com |
Yes | No | No | Nationwide provider of marine and RV retail finance. |
NextGear Capital | Bob Bejesky | 11799 North College Avenue Carmel, IN 46032 | 734-634-7663
www.nextgearcapital.com bob.bejesky@nextgearcapital.com |
No | Yes | Yes |
NextGear Capital provides inventory finance solutions to both dealers and manufacturers in the marine industry. The Deferred Interest program allows interest to accrue on both new and used units, but dealers don’t pay interest until the inventory sells. |
Northpoint Commercial Finance | Russel Baqir | 11675 Rainwater Drive, Ste. 450, Alpharetta, GA 30009 | 866-781-2420
www.northpointcf.com rbaqir@northpointcf.com |
No | Yes | Yes |
Northpoint Commercial Finance is a diversified inventory finance lender with a strong commitment to serving the marine industry. Northpoint combines experience, innovative technology, fresh ideas and a customer focus for financing the North American distribution channel. |
Priority One Financial Services | Nicole Armstrong | 742 Second Ave. S St. Petersburg, FL 33701 |
800-747-6223
www.p1fs.com success@p1fs.com |
Yes | Yes | No |
Priority One Financial Services, Inc has been serving recreational dealers since 1987. Acquired in 2007 by Forest River, Inc., a Berkshire Hathaway company, Priority One provides multiple lenders and specialized finance packages for boat dealers’ customers. Priority One is the official endorsed F&I provider of MRAA. |
Protective Asset Protection / FPC | Paul Sheldon | 6700 France Ave S, Suite 200 Edina, MN 55435 | 800-328-8690
www.protectiveassetprotection.com marketingteam@protective.com |
Yes | No | No |
New and pre-owned watercraft engine protection plans, new and pre-owned watercraft accessory protection plans, GAP coverage, F&I training and F&I technology. |
Seacoast Marine Finance | Lang Ryder | 1800 SE 10th Ave. Fort Lauderdale, FL 33316 |
954-630-3430
www.seacoastnational.com lang.ryder@seacoastnational.com |
Yes | No | No | Financing from $50,000 to $20 million. |
Shore Premier Finance | Kenneth K. Donner |
112 Corporate Drive |
252-384-6900 x8054 www.shorepremierfinance.com spfinfo@shorepremierfinance.com |
Yes | Yes | No |
Shore Premier Finance offers financing for U.S. Coast Guard documented vessels, retail, U.S. manufacturers for floorplans in the continental U.S., U.S. and DVI flagged only vessels. |
Sterling Acceptance Corp. | Karen Trostle | 1 Melvin Ave. Annapolis, MD 21401 | 410-268-1545 www.sterlingacceptance.com financing@sterlingacceptance.com | Yes | No | No | Boat financing, Coast Guard documentation and insurance services offered. |
TCF Inventory Finance, Inc. |
Neal Roller |
1475 E. Woodfield Rd., Ste. 1100 Schaumburg, IL 60173 | 877-872-8234
www.tcfif.com thecustomerfirst@tcfif.com |
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. |
Trident Funding Corp. | Jim Foley | 1535 SE 17th St., Ste. B-207 Fort Lauderdale, FL 33316 |
954-525-3665
www.tridentfunding.com jfoley@tridentfunding.com |
Yes | No | No | Yacht financing. |
Vantage Recreational Finance, Inc. |
Mike Harbaugh |
7301 Wiles Road Suite #106 |
888-577-2280 www.vantagerecreationalfinance.com info@vantagerecreationalfinance.com |
Yes | No | No |
Vantage Recreational Finance (VRF) offers marine and RV dealers and their customer financial solutions for the sale/purchase of new and used units. VRF also has programs that finance docks and lifts, outboard motors and fish houses. |
Wells Fargo Commercial Distribution Finance
|
Ed Bragg |
500 West Monroe St. |
248-625-3650 www.wellsfargo.com/cdf Edward.B.Bragg@wellsfargo.com |
No | Yes | Yes |
CDF is a leading provider of inventory and floorplan financing. Serving the marine industry for more than 50 years, CDF customers have access to COMS, its exclusive online inventory management system which also provides data, analytics, insights and thought leadership. |
Wolters Kluwer Financial Services | Tyler Kelly | 100 S Fifth St., Ste. 700 Minneapolis, MN 55402 | 877-404-6788
www.wolterskluwerfs.com/indirect tyler.kelly@wolterskluwer.com |
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. |