ST. PETER, Minn. — Working with private banks and investors, Alumacraft Boat Co. has formed Alumacraft Finance Corp. to provide floorplan financing to its dealers, according to a release from the company.
The new business will be independent but related to Alumacraft Boat Co., and it will offer financing to dealers for products purchased from Alumacraft, including trailers and all major brands of outboard motors.
“While many have been trying to lobby Congress and the Fed for assistance … and others want Congress to force another lender to enter the Marine Finance Market; Alumacraft Boat Co. has taken it upon itself to provide their dealers with a realistic financing option,” the company said in its release.
Alumacraft said it is able to offer dealers a new option because of its strong market and financial positions. The company promises simple dealer programs focused on providing the best value to the consumer, moderate interest rates and reasonable curtailment programs.
Details and programs are in the final stages of being prepared, but interested dealers are encouraged to contact Alumacraft to receive a preliminary information kit and credit application packet. Full details will be announced at the company’s annual dealer meeting on Aug. 25.
Alumacraft says its new financing venture will kick off with the 2010 model year on Sept. 1.