Thanks to a multi-million-dollar loan from Florida Community Bank, Rybovich Boat Co. LLC can now restructure debt, allowing the marina to stay afloat.
The loan has two parts: $65 million for refinancing and an additional $2.5 million line of credit, according to a press release. Rybovich is part of Huizenga Holdings Inc.
“As a Florida-based, Florida-focused bank, we are extremely proud of the opportunity to work with Huizenga Holdings and Holliday Fenoglio Fowler, L.P. to provide comprehensive financing for one of the leading enterprises within the marine industry,” said Kent Ellert, FCB’s President and CEO. “FCB’s customized approach to financial solutions is designed to help businesses grow, and we’re confident that Rybovich, with its world-class facilities and team, will continue to be a role model for entrepreneurship and supporting the communities it serves.”
The release said the Rybovich marina has “the largest lift capacity of any marina in South Florida,” and “can accommodate deep-draft mega yachts with capacity of up to 330 l.f.”
To learn more about Florida Community Bank, visit its website.