KELOWNA, B.C., Canada – Northstar Trade Finance Inc., a Canadian export lender, has expanded its offering of floorplan financing to fiberglass boat builder Campion Marine, the manufacturer reported in a recent statement.
“We recognized that the number one issue for marine industry dealers in the U.S.A. at this point in history is the lack of floorplan financing, so we have been working hard to find a solution,” said Campion Marine General Manager Brock Elliott.
Scott Shepherd of Northstar said, “It was a natural fit for us to expand our offering to Campion Marine into the U.S.A. as we have enjoyed over a 10-year relationship with Campion in financing their export sales into Australia and New Zealand.”
The recent Marine Dealer Conference and Expo held in Orlando, Fla., identified floorplan loans as the top concern, according to the company.
Northstar floorplan financing is in addition to existing credit facilities dealers may have and is available to the buyer in their own currency, the company added. Loan documentation is standardized.
“We hope this move by Northstar will help improve the market and boost Campion’s sales to the U.S.,” Elliott said.