WASHINGTON, N.C. – Liberty Associates, which provided the financial backing for Fountain Powerboats to reorganize after bankruptcy, is facilitating a floor plan finance program for the Fountain Powerboats Dealer Network.
“In our continuing efforts to support the Fountain and Baja Brands, the Liberty Team feels this is an important step to allow our dealers to have current model year product on-location to better serve their customer base,” Bill Gates, CEO of Liberty and chairman of Fountain Powerboats, said in a statement.
Liberty’s affiliate finance company, Palmetto Park Financial LLC, will offer up to $5 million in financing to support the dealer network under the terms of the program. Program packages are available starting today, and Fountain anticipates that the schedule to complete the process for its qualified dealers will be less than 30 days after submitting an application.
“In the past 12 months, over 255 new Fountain boats have been sold to retail customers, and therefore we have seen a dramatic decline in our field inventory levels as retail sales demand has out-paced new boat production,” Reggie Fountain, president of Fountain Powerboats, said in the statement. “Fountain continues to see strong activity for new model year boat orders, as a result of our new product development and design efforts.”
Dealers can contact their regional sales representative or Scott Beebe, senior vice president at Fountain, for more information.