A comprehensive marine finance market study of lending trends and operations in the U.S. was recently released by the National Marine Lenders Association (NMLA). It showed that the 35- to 49-foot class of boats lead with a 10.5 percent growth for the second consecutive year.
The 2018 NMLA Annual Report provides specific data relating to the industry’s two leading business line entities – those who originate and hold retail and floor plan boat loans (banks, credit unions and private lenders), and those who originate and broker consumer boat loans (service companies). The NMLA Annual Report is a compilation of information from 45 lenders and represents a sizeable share of the marine finance market.
“The recreational marine finance industry is continuing to experience strong economic health,” said Jim Coburn, NMLA’s Annual Report chair and board member.
Performance statistics of interest reveals the boat loan delinquency rate declined in 2017 and has remained stable since 2012. Boat loan portfolio yields improved for the third straight year and the average boat loan turnover rate was reported at a healthy 47 months.
The entire 115-page 2018 NMLA Annual Report is now available for purchase in PDF format.