MRAA partners with Priority One to offer equipment financing services
Marine Retailers Association of the Americas
March 21, 2014
Filed under News
MINNEAPOLIS — The Marine Retailers Association of the Americas (MRAA) is pleased to announce that the MRAA Rewards Program and Priority One Financial Services of St. Petersburg, Fla., have expanded their existing relationship to now include financing for marina and boatyard equipment.
The new program will allow MRAA members to finance essential heavy equipment required to run their respective businesses. Everything from boat hoists and forklifts to company trucks and tractors can be financed as part of the expanded relationship. Finance options include leases, loans, flexible terms, low interest rates, and programs for new and used equipment.
“What’s nice for these dealers is that they can finance multiple types of collateral under the same note, versus having a bunch of different loans,” says Jared Zimlin, business development director at Priority One. “It’s now possible that dealers can lease or loan a company truck, forklift and hoist all together, making it easier to keep track of.”
“This new partnership opportunity will help simplify operations for our dealer members,” echoes MRAA president Matt Gruhn. “MRAA members expressed to us that this would be a valuable benefit to offer, and we’re pleased we could partner with Priority One in order to bring this request to fruition. Our relationship with Priority One stretches back several years, and we’re excited to strengthen that bond through the creation of more valuable MRAA member benefits designed to improve dealers’ business performance and efficiency.”
Priority One is a long-time partner of MRAA. They are the exclusively endorsed, preferred provider of retail F&I (finance and insurance) services for MRAA members. Together, in addition to the latest equipment financing option, MRAA and Priority One created the “Bonus Bucks Program” as a direct benefit of MRAA membership. The program provides marine retailers access to outsourced F&I services if they do not employ a full-time F&I professional on staff. Through Bonus Bucks, Priority One gives MRAA members the exclusive benefit of $5 back per transaction on every loan the company helps fund.