Commercial boat Financing

FlyingConnie

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Sep 17, 2011
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Guilford, CT.
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28' Crowley Beal
I am buying a boat and looking for partial financing to charter fish with and possiible giant fish with. So I guess I'm pursueing nearcoastal trade, fisheries endoresements along with the recreational documentation. What lender/bank will do this?
 

31jcptown

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Sep 27, 2011
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51
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Long Island NY
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91 31 JC P-Town
Good luck with that Don't think you will get a loan for your intent.You might think more like a personal loan .
 

Blacktide

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Oct 13, 2011
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Long Island
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Northern Bay 36
If you own a house and have any equity you might look into lines of credit or a refi
 

MDI45

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Freeport , new york
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45MDI /28WB
flyingconnie,i would take the advice of the last two post...getting a loan for any type of commercial fishing is tuff
 

Helen L

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Jan 12, 2012
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I went to my local bank and was approved. Intent was commercial fishing. Excellent credit and I met their financial requirements. Wasn't that much money for them. Not sure how much you're looking for, but a lot of times the community banks try to help members out.
 

steveinak

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Piker Central
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I dealt with Farm Credit(New Jersey office) many years ago when i was buying my permit and boat in Alaska.
 

RKrough

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Oct 23, 2011
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Wilmington NC
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Midland 19
The government has or used to have a couple of different low interest loan programs for fisherman. One was through NOAA and the other through the USDA. Many of the crabbers and gill netters where I grew up in Va used these programs to finance a re-power or new boats. Of course that was over 20 years ago so that may have changed.
 

nick4634

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Oct 18, 2011
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Here in NH theres a special program for fisherman that lets us take up to 150000 at something like 4.5 % but you have to show proof of at least 3 yrs of commercial fishing and I'm sure theres credit requirments and other stipulations
 

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