Alma, MI, January 13, 2016 – Avalon Pontoon Boats (“Avalon”), a leading manufacturer of pontoon boats known for their luxury and strength, has entered into an agreement with Honda Marine to provide a new inventory finance program for its dealers. Financing will be provided through Northpoint Commercial Finance (Northpoint), a leader in inventory financing solutions for the marine industry and long-term Avalon financing partner.
With this new six-month program, Honda Marine will subsidize Avalon’s dealers’ early payment program when a dealer orders an Avalon boat equipped with a Honda Marine engine. The subsidy applies to the entire boat package invoice, not just the Honda 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, president of Avalon. “At the same time, the partnership will contribute to Avalon’s revenue growth of 15-20 percent per year.”
The world’s largest engine manufacturer, Honda brings the same environmental stewardship to its marine outboards as it does to the Honda vehicles and Power Equipment models that have proven themselves for decades, according to Mark DiPietro, senior manager of Honda Marine. “This partnership will help meet growing consumer demand for more reliable, cleaner engine technology that also is more cost-efficient,” he added.
Wolf also commented that Northpoint has long been a valuable resource, providing 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 the finance company is pleased to facilitate the financing. “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.”
About Avalon Pontoon Boats
A vertically-integrated builder for more than 40 years, Avalon has earned a reputation for superior quality. Their expert team makes every component that goes into each boat, resulting in a higher degree of control over those who outsource. All Avalon Pontoons are certified by the National Marine Manufacturer Association, meeting or exceeding the industry’s strictest quality and safety standards. Their certified boats also must pass rigorous U.S. Coast Guard annual inspections to retain their status. Avalon’s superior customer satisfaction has been recognized annually with prestigious NMMA CSI Award.
About Honda Marine
Honda Marine, a division of American Honda Motor Co., Inc., markets a complete range of outboard marine engines. Its comprehensive product line is powered exclusively by 4-stroke engines. Information regarding Honda Marine products is available at www.hondanews.com.
About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices in the U.S. and Canada, is a diversified financial solutions provider offering inventory lending, floorplan finance and asset based financing. An experienced lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers and dealers in a variety of consumer and commercial products industries. Their team offers a creative, flexible and personal approach combined with innovative technologies and streamlined processes. For more information about Northpoint’s product offerings, visitwww.northpointcf.com.