NMMA Canada pushes floorplan lending in House of Commons

BOLTON, Ontario — The National Marine Manufacturers Association Canada appeared before the House of Commons Finance Committee last week to discuss Canada's credit market, according to a release from NMMA.

Sara Anghel, NMMA Canada’s vice president of government relations and public affairs, spoke in Ottawa on behalf of the Canadian recreational boating industry. During her appearance, she voiced concerns with a lack of marine dealer floorplan financing.

“A federal government loan guarantee program for floorplanning will increase liquidity, attracting new lenders to the marine industry,” said Anghel. “NMMA urges the federal government to consider and include dealer floorplan financing as part of Business Development Canada’s (BDC) mandate to protect the $26 billion economic impact of Canada’s recreational boating industry and ensure the estimated 374,000 jobs our industry produces are secure.”

Jeff Wilcox, president of George’s Marine and Sports, provided a dealer’s perspective on the current floorplan situation.

“During my time with George’s Marine and Sports, I have seen a number of changes in credit availability; however, today’s situation has created the most challenging set of parameters I have ever seen in running a small business,” Wilcox said.

The House of Commons Finance Committee also heard from stakeholders including GE Capital. The committee will review the comments and make recommendations to the Canadian government and the BDC, NMMA reported.

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