Todd969
10-16-2008, 03:59 PM
SECURED MARINE TRANSACTIONS JOINS WITH STERLING
ASSOCIATES AND YACHTWORLD.COM/BOATS.COM TO FORM
STRATEGIC ALLIANCE
Companies Pool Resources to Facilitate Financing for Boat Transactions
BRANFORD, Conn. – Oct. 15, 2008 – Three leading marine-industry companies –
Secured Marine Transactions (SMT), Sterling Associates and
YachtWorld.com/Boats.com – today announced a strategic alliance aimed at improving
the availability of financing for qualified boat owners.
SMT and Sterling are financial service firms offering loan underwriting, documentation
and marine insurance packages for the marine market. In addition, SMT is a major
supplier of Web-based financial and management software for brokers. YachtWorld.com
and its sister company, Boats.com, are the premier international Internet resources for
boat listings.
Under the agreement, the companies will combine forces to offer Internet-based financing and refinancing for new and used boats. Online loan applications generated through the BoatsBank portal on the YachtWorld.com and Boats.com Websites will be processed by SMT and placed through SterlingÂ’s wide network of marine lenders nationwide.
“The collective experience of our companies will give consumers access to boat loans from trustworthy lenders at the best possible rates and terms,” said James Nolan, CEO of SMT. “We will help buyers present their creditworthiness in the most professional way to
complete the transaction successfully while ensuring the highest levels of confidentiality throughout the process.”
“Although credit requirements have tightened and some lenders have withdrawn from the boating marketplace, loans are available for qualified borrowers,” said Thomas F. Smith, Jr., president of Sterling Associates. “There is incredible value in the boat market today,
and we will help creditworthy buyers unlock that value by opening the door to available financing.”
“This strategic alliance will help brokers and dealers close sales by increasing the availability of financing for boat transactions and streamlining the loan process from application to closing,” said Ian Atkins, vice president and group general manager, YachtWorld.com and Boats.com. “We see this as a natural extension of our comprehensive package of end-to-end services for brokers, dealers and consumers, covering all aspects of buying and selling boats and yachts.”
About Secured Marine Transactions
Secured Marine Transactions (www.securedmarinetransactions.com), a division of Secured Marine Trust, LLC, is a global marine financial services and data management company that provides an online management system for expediting and administering vessel sale transactions. SMTÂ’s flagship product, ONEtool!, is a complete online
business-application solution for handling all aspects of sale and purchase transactions. Based in Branford, Conn., the company was founded in 2002 and is run by a seasoned team of marine-industry professionals.
About Sterling Associates
Sterling Associates (www.boatbanker.com) is a financial services firm that provides financing, insurance and documentation solutions for boats, recreational vehicles and manufactured homes. Sterling Associates has offices in Massachusetts, California, Florida and Texas, with local representatives providing professional, personalized service
throughout New England, the Southeast and the Southwest.
About YachtWorld.com and Boats.com Together, YachtWorld.com and Boats.com are the single most powerful and effective
global marketing solution for the boating industry. With over 140,000 new and used boat listings worldwide offered by over 4,000 brokers, dealers and builders in 115 countries, YachtWorld.com and Boats.com are visited by over 4 million boating consumers every month who click through over 95 million page views. YachtWorld.com is the premier online sales channel for yacht brokers around the world, providing a complete suite of
online marketing services through BoatWizard, its proprietary back-end tool. Boats.com provides marketing and Web services to new boat dealers and builders, and offers a For Sale By Owner classified service. Headquartered in Seattle, Wash., YachtWorld.com and
Boats.com have European headquarters in the United Kingdom, with sales offices in Germany, Italy and Russia, and sales representation in Dubai, Australia and China.
Both companies are business units of Dominion Enterprises, based in Norfolk, Va.
ASSOCIATES AND YACHTWORLD.COM/BOATS.COM TO FORM
STRATEGIC ALLIANCE
Companies Pool Resources to Facilitate Financing for Boat Transactions
BRANFORD, Conn. – Oct. 15, 2008 – Three leading marine-industry companies –
Secured Marine Transactions (SMT), Sterling Associates and
YachtWorld.com/Boats.com – today announced a strategic alliance aimed at improving
the availability of financing for qualified boat owners.
SMT and Sterling are financial service firms offering loan underwriting, documentation
and marine insurance packages for the marine market. In addition, SMT is a major
supplier of Web-based financial and management software for brokers. YachtWorld.com
and its sister company, Boats.com, are the premier international Internet resources for
boat listings.
Under the agreement, the companies will combine forces to offer Internet-based financing and refinancing for new and used boats. Online loan applications generated through the BoatsBank portal on the YachtWorld.com and Boats.com Websites will be processed by SMT and placed through SterlingÂ’s wide network of marine lenders nationwide.
“The collective experience of our companies will give consumers access to boat loans from trustworthy lenders at the best possible rates and terms,” said James Nolan, CEO of SMT. “We will help buyers present their creditworthiness in the most professional way to
complete the transaction successfully while ensuring the highest levels of confidentiality throughout the process.”
“Although credit requirements have tightened and some lenders have withdrawn from the boating marketplace, loans are available for qualified borrowers,” said Thomas F. Smith, Jr., president of Sterling Associates. “There is incredible value in the boat market today,
and we will help creditworthy buyers unlock that value by opening the door to available financing.”
“This strategic alliance will help brokers and dealers close sales by increasing the availability of financing for boat transactions and streamlining the loan process from application to closing,” said Ian Atkins, vice president and group general manager, YachtWorld.com and Boats.com. “We see this as a natural extension of our comprehensive package of end-to-end services for brokers, dealers and consumers, covering all aspects of buying and selling boats and yachts.”
About Secured Marine Transactions
Secured Marine Transactions (www.securedmarinetransactions.com), a division of Secured Marine Trust, LLC, is a global marine financial services and data management company that provides an online management system for expediting and administering vessel sale transactions. SMTÂ’s flagship product, ONEtool!, is a complete online
business-application solution for handling all aspects of sale and purchase transactions. Based in Branford, Conn., the company was founded in 2002 and is run by a seasoned team of marine-industry professionals.
About Sterling Associates
Sterling Associates (www.boatbanker.com) is a financial services firm that provides financing, insurance and documentation solutions for boats, recreational vehicles and manufactured homes. Sterling Associates has offices in Massachusetts, California, Florida and Texas, with local representatives providing professional, personalized service
throughout New England, the Southeast and the Southwest.
About YachtWorld.com and Boats.com Together, YachtWorld.com and Boats.com are the single most powerful and effective
global marketing solution for the boating industry. With over 140,000 new and used boat listings worldwide offered by over 4,000 brokers, dealers and builders in 115 countries, YachtWorld.com and Boats.com are visited by over 4 million boating consumers every month who click through over 95 million page views. YachtWorld.com is the premier online sales channel for yacht brokers around the world, providing a complete suite of
online marketing services through BoatWizard, its proprietary back-end tool. Boats.com provides marketing and Web services to new boat dealers and builders, and offers a For Sale By Owner classified service. Headquartered in Seattle, Wash., YachtWorld.com and
Boats.com have European headquarters in the United Kingdom, with sales offices in Germany, Italy and Russia, and sales representation in Dubai, Australia and China.
Both companies are business units of Dominion Enterprises, based in Norfolk, Va.