Northpoint partners with Elite Recreational Finance to expand in marine sector

Northpoint Commercial Finance has announced a partnership with Elite Recreational Finance, which will focus on expanding Northpoint’s marine division with a retail finance programme. The partnership will combine Elite’s technology with Northpoint’s financial solutions.

Following more than ten consecutive years of robust growth and the development of an impressive customer base throughout North America, Northpoint’s programmes such as Boat Club Financing, Used Floorplan Programs and partnering with Manheim Auctions have helped the company grow into an established marine entity. As this next phase begins for Northpoint, it is expected that the partnership with Elite will strengthen Northpoint’s offerings and aid in providing the best support and financing opportunities to the marine industry.

Russell Baqir, senior VP of business development at Northpoint, says: “The partnership with Elite Recreational Finance is a perfect fit for us and we couldn’t be more excited as their technology and services for both manufacturers and dealers will continue to expand our boutique of innovative inventory solutions in marine.”

Jimmy Delegro, Elite’s president, says: “We are excited about the partnership and look forward to working with Northpoint to help grow their marine sector. Our retail experience and industry knowledge combined with their top-notch customer service and flexible marine inventory financing programmes fulfill a great market need.”

Headquartered in Oldsmar, Florida, Elite provides full-service consumer financing for dealers, lenders and manufacturers. Elite finances new, used, consignments, rentals, boat and RV clubs, charters and dealership equipment nationwide.

Northpoint is owned by LBC Capital, a subsidiary of Laurentian Bank of Canada, and has offices in Alpharetta, GA, and Burlington, ON. Laurentian Bank, which has been in business for over 175 years, acquired Northpoint Financial in 2017.