Marine Finance

Nominations open for lending industry awards

CHICAGO - Nominations for the NMBA's William B. Otto III Industry Service award are being accepted until Sept. 30. The award is presented every year at the NMBA annual members conference. The award is named for founding member and former president of the organization Bill Otto. The service award recognizes individuals within the marine industry who have given their time ...

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Wolters Kluwer expands AppOne with addition of MB Bank

MINNEAPOLIS - AppOne, the Wolters Kluwer platform that automates indirect lending, credit approval and compliance processes for lenders and dealerships, has expanded to include MB Financial Bank. MB Financial has been a part of the AppOne platform since last year for motorcycle dealers and is now expanding to include personal watercraft and powersports dealers as well. MB Financial Bank is ...

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Medallion Bank joins Wolters Kluwer’s AppOne platform

MINNEAPOLIS, Minn. – Wolters Kluwer announced today that Medallion Bank has joined their AppOne platform, a program that automates indirect lending, credit approval, and compliance processes, between lenders and RV/Marine dealers. The AppOne program will help Medallion Bank, which specializes in financing for customers with credit problems, to automate the credit application process between the company and bank-approved marine and ...

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Insurance company lists boating safety tips

TORRANCE, Calif. — Post Insurance Services Inc., an insurance company specializing in marine policies, recommends these tips to its boating customers for a safe experience. 1. Check the weather. Assess weather conditions before heading out but if you notice an abrupt change in the weather, play it safe and get off the water. 2. Designate a skipper. There should always ...

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Wolters Kluwer Financial Services expands NADAguides partnership to marine

MINNEAPOLIS, Minn. — Wolters Kluwer Financial Services will provide dealerships utilizing its AppOne platform with the ability to easily access NADAguides valuation data for boats, recreational vehicles (RVs) and powersports vehicles. AppOne automates the indirect lending, credit approval and loan documentation compliance processes for lenders and the auto, RV, marine and powersports dealers they work with. Marine dealers using AppOne ...

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Brunswick boat sales up 10 percent in Q2

LAKE FOREST, Ill. – A 10-percent increase in boat sales helped Brunswick Corporation record an 8-percent increase in net sales and an increase in its net earnings of $55.6 million, in the second quarter of 2011, when compared to the same quarter of last year. "Our second quarter results reflected higher marine wholesale shipments compared to the prior year, together ...

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MarineMax Reports 33-percent increase in same-store sales

CLEARWATER, Fla., — MarineMax, Inc., the nation's largest recreational boat retailer, today announced that it increased its same-store sales by 33 percent in its third quarter of 2011, compared to the same quarter of 2010. The company reported revenue of $153.2 million for the quarter ended June 30, 2011, compared with $115.4 million for the comparable quarter last year. Same-store ...

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Moody’s upgrades Brunswick Corp. rating

LAKE FOREST, Ill. — Moody's Investors Service has upgraded Brunswick Corp.'s speculative-grade rating due to the company’s potential for greater demand and improved cost structure. Moody’s also noted stronger earnings on a sales rebound. Other signs for potential improvement include aging licensed boats and fewer used boat sales, which could drive demand. "Brunswick's significantly improved cost structure, health of its ...

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Sheffield expands BRP coverage to Evinrude engines

CLEMMONS, N.C. — Sheffield Financial has expanded its coverage of BRP powersports products to include Evinrude outboard engines, according to a release from the company. By adding outboard engines, Sheffield, which has specialized in the powersports industry for the past 10 years, is expanding its range of financed products. "BRP's Evinrude brand has a long history and their excellent reputation ...

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Marinalife develops boater insurance program

BALTIMORE, Md. — Marinalife announced its new Boaters Insurance Program. The program is under the banner of Marinalife Insurance Services. The program is led by Peter Teuten, a marine insurance and risk management specialist. “Offering insurance is a natural extension of our comprehensive service model. We have a deep understanding of our members’ needs and how insurance fits into the ...

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