NAICS Code 522291-10 - Boat Financing

Marketing Level - NAICS 8-Digit

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Contact Emails: 18
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Phone Numbers: 5
Business Addresses: 5
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NAICS CODE 522291-10
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NAICS Code 522291-10 Description (8-Digit)

Boat financing is a subdivision of the consumer lending industry that specifically deals with providing loans to individuals or businesses for the purchase of boats or other watercraft. This industry involves assessing the creditworthiness of potential borrowers and determining the appropriate loan amount and interest rate based on factors such as income, credit history, and the value of the boat being purchased. Boat financing companies may work directly with boat dealerships or with individual buyers to provide financing options.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 522291 page

Tools

Tools commonly used in the Boat Financing industry for day-to-day tasks and operations.

  • Loan origination software
  • Credit scoring models
  • Loan servicing software
  • Loan management systems
  • Financial analysis software
  • Loan underwriting software
  • Risk management software
  • Payment processing software
  • Customer relationship management (CRM) software
  • Electronic signature software

Industry Examples of Boat Financing

Common products and services typical of NAICS Code 522291-10, illustrating the main business activities and contributions to the market.

  • Yacht financing
  • Sailboat financing
  • Jet ski financing
  • Pontoon boat financing
  • Fishing boat financing
  • Houseboat financing
  • Speedboat financing
  • Catamaran financing
  • Canoe financing
  • Kayak financing

History

A concise historical narrative of NAICS Code 522291-10 covering global milestones and recent developments within the United States.

  • The history of the Boat Financing industry dates back to the early 1900s when the first boat loan was issued by a bank in the United States. The industry saw significant growth in the 1950s and 1960s when recreational boating became popular among the middle class. In the 1970s, the industry faced a downturn due to the oil crisis and high-interest rates. However, the industry recovered in the 1980s and 1990s with the introduction of new financing options and the growth of the boating industry. In recent years, the industry has seen advancements in technology, such as online loan applications and digital payments, making it easier for consumers to finance their boats. Boat Financing in the United States has a more recent history, with the industry experiencing significant growth in the 1990s and early 2000s. The industry faced a downturn during the 2008 financial crisis, but it has since recovered. In recent years, the industry has seen an increase in demand for boat loans due to low-interest rates and the growth of the boating industry. The industry has also seen advancements in technology, such as mobile apps and online loan calculators, making it easier for consumers to finance their boats.