Excellent commercial credit has been hovering 8.3-8.8% for a while and set to raise.

I was told buy an RV they have been double digits for a while on their lot. Not sure about boats.

banks are scrounging as hard as possible for 3% margin for a while and nobody is borrowing if they can help it.

Oddly I have never had so many marine dealers in our sector call and ask for a few more days to pay bills so they could get AR in and not have to borrow or borrow more on their line for only a few days or a week.

smoker craft employee said they are basically dead. Their winter shut down /break went longer than expect.  They anticipated demand coming back a bit come late winter early spring but it’s not there and things are essentially dead and now layoff’s. 
 

Also look no further than Elkhart IN if you want to know how RV and boating is going… …it ain’t good… layoffs everywhere!
 

If pontoon sector is getting hit harder now that means wake boats are getting destroyed.

And maaaan if I see one more idiotic report about sales $ amount YOY comparison instead of YOY units to compare demand to past years!! 
 

“our cost doubled and we doubled our prices but at least our top line is on par with the past! We’re doing great!” 

Here's where teak swim platforms came from if interested:

https://teakworldenterprises.com/

On 4/16/2024 at 9:08 PM, 85 Barefoot said:

Touché.  Floor plans are unique as to their terms obviously. Not just a simple line of credit collateralized by individual units. 

That said some googling tonight doesn’t seem 5% is that off base?  Is it?  Of course,  big difference between googling and signature lines.  Enlighten us on a reasonable rate charged for a unit sold in a reasonable time 

I don’t know much about how floor plans are priced. But I do know this… 

the current fed funds rate is 5.33% while SOFR is 5.31%. Those are the banks’ overnight “wholesale” rates.

Commercial lending is typically quoted at SORR + X%.  So a 5% rate on a loan of any kind would mean the bank is literally giving $ away.

That’s why I said… if you know of such a bank, please DM me their contact info. 

Even your 7.5% number is not realistic given experiences I have with large commercial lending (which I won’t elaborate on). 

Trust me, these guys are paying double digits, and that’s not all that uncommon, especially considering their credit rating (which I’m sure wasn’t super attractive even before this melt down). 

The 13.5% quoted above is perhaps higher than I would have guessed, but also not surprising. 

Gel coat is tough, I’d start with a wool pad and medium cut polish. I’ve been impressed with both the cutting and finishing capabilities of wool. 

So I found out allllllll about those connectors  today once I can figure out how to post images I can help everyone understand the last post lol!!!

basicly b is high thermal and balck

There is gray green and others...

p and s are male and female metal conector type.

dto6 is the connector housing type...

I will also put up the final final design.... but this should let me keep the oem warenty.  So I can plug it all back in if things need fixing.