Survey shows increase in marine loans

All respondents to a recent survey by the National Marine Bankers Association said the dollar volume of loans booked in the first quarter of 2011 was up from the same period last year.

The survey, conducted earlier this month, was done to gauge changes in the lending environment and identify trends that could be used for business planning.

Thirty percent of association lender members responded, including loan originators/brokers, financial services firms and banks, with the majority having a national presence.

Asked about their outlook for the second quarter, 92 percent indicated that they expect business to increase from the same period in 2010. Other responses indicate that credit quality is up and that lending criteria are mostly the same or less stringent.

All respondents reported a more positive mood among retail buyers and 75 percent saw increased interest in boat loans.

Click here for the full survey results.