Avalon Pontoons and Honda Marine have partnered with Northpoint Commercial Finance to provide Avalon’s dealer network with a new inventory finance program. Northpoint is a leader in inventory financing solutions for the marine industry and has been Avalon’s financing partner for some time.
The new six-month program will allow Honda to subsidize Avalon’s dealers’ early payment program. That subsidy will apply to the entire boat package, not simply the engine.
“We’re pleased to work with a best-in-class brand such as Honda Marine to help our dealers reduce costs and grow while giving them an opportunity to pass savings along to customers,” said Jim Wolf, Avalon’s president. “At the same time, the partnership will contribute to Avalon’s revenue growth of 15-20 percent per year.”
He also reiterated how valuable their relationship with Northpoint has been, due to their ability to provide dealer inventory financing with a more flexible approach than many other lenders. “We look forward to the continued growth of our relationship.”
Northpoint’s SVP of the marine business, Russell Baqir, said they are pleased to enter into this arrangement. “Avalon has been with Northpoint since we were founded in 2012. We have established great relationships with Avalon and their dealers. We listen to what their dealers want, and I know this will be a great product for them while helping Honda Marine increase their market share at the same time. There is not another floorplan lender flexible enough to replicate this offer.”
