More Money More Boats
It may not seem terribly interesting to every boat owner and boat buyer out there, but there’s a new player in the game of marine finance called LH-Finance, and it may make a difference.
LH-Finance (www.LH-Finance.com) is a newly established division of United Bank that provides retail and wholesale financing, and during the Miami International Boat Show and Yachts Miami Beach, the company announced a strategic global partnership with CGI Finance, a European leader in the yacht finance industry.
The partnership will mean that LH-Finance will partner with CGI Finance to provide floor planning, or inventory financing, for boat manufacturers and dealers in both the American and European markets. LH-Finance has a 12-member team based in Baltimore, Maryland, who will will provide floor-planning expertise in North America, and also will help American builders secure financing in Europe.
LH-Finance will also provide competitive products to customers, dealers, and builders in North America.
Yawn, you may say. What’s it to me? you may say. Well to those boaters I say, the more money flowing, the merrier the marketplace. To have builders and dealers, and yes, buyers financed by another player who knows the market on a global scale, will make a difference. Consumer confidence comes from all kinds of places. And when buyers show up to look around and see a boatyard with a bunch of new inventory getting unwrapped, it makes things happen in the market.
That guy who’s boat you have long coveted? Guess what? He just upgraded to something new and he’s selling. That boat you saw in the pages of Sail magazine, or Passagemaker, or Power & Motoryacht? Well there’s one coming in now at the local dealer. And you can see if the review you read is on target. That’s cool.
Money greases the process at all levels. The more the better.