Sept12 (2).pdf - Association of Marina Industries

Industry News Continued from Page 4$2 billion over the last 12 months. For example, WellsFargo reported that that its less-than-$1 million loans aredown by more than $2.3 billion over the last 12 months.Bank of America’s total for such loans is down by morethan $560 million. JPMorgan Chase’s total is up but notby the 35 percent it calculates. Given those results, it’s alittle hard to see how the banks will hit their three-yearcommitment.Still, the news in not all bad. According to the F.D.I.C. data,Citibank, the nation’s fourth-largest bank ranked by deposits,has increased its small-business lending by more than $1.4billion and PNC Banks has increased its lending by morethan $1 billion. We congratulate these banks for helping tolead the way. (Here’s a complete list of the banks and how theyare doing.)Using this methodology has raised objections. In a recentblog post, the financial services roundtable cited its oppositionto our banking grades by noting, among other things,that big companies sometimes have loan balances that fallbelow $1 million.While there is a possibility that occasionally a big companywill have a loan with a balance of less than $1 million, we thinkit’s a fair assumption that the vast majority of these loans aresmall-business loans and that it’s the best indicator available.We also like the F.D.I.C. data because while it includes creditcard loans, it only includes the balances, the monies actuallylent. Plus, the F.D.I.C. loan data include existing loans andnew loans, which means they reflect how banks are treatingall of their customers, not just the new ones.It will be interesting to see what the S.B.A. reports laterthis month (and we will let you know). We hope they willoffer more clarity and some consistent definitions. Afterall, as small-business owners we should expect the samefrom banks as they expect from us.Ami Kassar founded MultiFunding, which is based nearPhiladelphia and helps small businesses find the rightsources of financing for their companies.Texas Company Buys Quincy MarinaBy Steve Adams, The Patriot LedgerNominations Being Sought For AMIBoard OpeningsAMI is seeking nominations for people in the industry tofill board openings available in January 2013.Forward your board nominations to AMI by email at info@marinaassociation.org or by phone at 866-367-6622. Nominationsmust be submitted by October 30, 2012. Individualswho are nominated for board positions will be asked tosubmit a resume or CV which will be forwarded to the AMInominations committee for further review.2012 AMI OfficersJim Frye, CMM – President, Westrec MarinasGary Groenwold, CMM –Chairman, Westrec MarinasJeff Rose, CMM – Vice Chairman, Marina InternationalBrad Gross, CMM – Treasurer, OC Dana Point HarborKeith Boulais – Secretary, Premier Materials Technology, Inc.Jim Frye, CMM – Immediate Past Chairman, Westrec Marinas2012 AMI Board of DirectorsKeith Knowlton, CMM, Riverside Yacht ClubKevin Lussier, CMM, Boston Yacht HavenKen MacDonald, CMM, Bay Port Yachting CentreChris Petty, Suntex Waterfront ManagementSteve Ryder, Bellingham MarineJohn Schoppmann, CMM, Forever ResortsRandy Short, Representative MRA, Almar MarinasT. Clark Smith, III, Chubb Custom Market, IncRonald Souza, CMM, Westrec Marina RJ BrazilMark Stafford, Representing KY/TN MTA,Marinas InternationalMick Webber, HydroHoist Marine GroupMark Yearn, Marine Insurance ServicesA Texas company that is assembling a nationwide portfolioof marinas has acquired the Bay Pointe Marinaproperty.5Industry News Continued on Page 6