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GE Capital Expands Finance Program With Largest U.S. Boat Dealer

September 18, 2014, 06:31 AM
Filed Under: Dealer Finance

GE Capital, Commercial Distribution Finance (CDF) announced it has significantly expanded its inventory financing program with MarineMax, the nation’s largest boat dealer, and extended its duration through 2017. The $235 million facility will allow the company to expand its stocking plans from leading manufacturers in the industry including Sea Ray, Boston Whaler and Azimut Yachts.

“GE Capital really understands our business, and the opportunities and challenges our industry is facing”, said Michael H. McLamb, executive vice president and CFO of MarineMax. “This increased credit capacity positions us well to capitalize on the continuing recovery of our industry. We also appreciate how seamless the credit-approval process was, allowing us to focus on growing our business.”

“We’ve been working with MarineMax since they were founded in 1998, and are proud of how we’ve been able to support their strategic growth plans, "said Bruce Van Wagoner, president of CDF’s marine group. “We have a shared passion for the marine industry and we are thrilled to see them realize their next phase of growth.”

Headquartered in Clearwater, Florida, MarineMax is the nation’s largest recreational boat and yacht retailer offering premium brands such as Sea Ray, Boston Whaler, Meridian, Cabo, Hatteras, Azimut Yachts, Grady-White, Harris FloteBote, Crest, Scout, Sailfish, Scarab Jet Boats, Aquila, Ocean Alexander, Nautique and Malibu. MarineMax sells new and used recreational boats and related marine products and services, and provides yacht brokerage and charter services. MarineMax currently has 55 retail locations in Alabama, Arizona, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, Tennessee, and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands.

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