IBBI extends agreement with Textron

GOLDEN VALLEY, Minn. – Textron Financial Corporation’s Marine Division has signed a four-year contract extension with Independent Boat Builders, Inc. to continue serving as the organization’s preferred lender, Textron said in a press release today.

The extension provides floorplan financing through the year 2012 to IBBI’s membership of 28 boat manufacturers.

“Extending our relationship with IBBI is an opportunity to build upon a shared understanding and optimism for the future of the marine industry,” said Russell Baqir, Textron Financial’s Marine Division president. “IBBI is a valued customer in our marine growth strategy, ensuring we remain focused on what manufacturers and dealers in this industry need from their lender.”

“[Textron’s] enthusiasm and devotion to our group has been instrumental in growing our program and achieving this new four-year contract,” said Tom Broy, IBBI president. “Even though the market has been declining, our volume of business with Textron has exploded over the past few years. With this new program, I see that trend only continuing.”

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