1. Marine mortgage
There are loan managers very interested in boat financing. They show much flexibility to marine loans granted to their clients. The boats may navigate in Canada, United States, Caribbean or else.
As we complete numerous marine transactions for financial institutions, we can easily refer you to the the best appropriate branch ( rate of interests, repayment flexibility, etc.) without any fees for this service.
This security uses the advantages of the Certificate of Registry of a boat. It gives the flexibility of having good interest rates and interestinig conditions of reimbursement.
This security can protect any kind of credit (personal loans, line of credit, etc.). I some cases, the amortization period may be more than 15 years.
In most cases it allowes the possibility to reimburse your obligation, in part or in full at any time, without having to pay any penalty; you will more easily manage any unexpected entries of funds.
The boat may be in your name or in the name of your company. If you think of borrowing $ 35,000.00 or more, it will be your best choice!
Contact one of our Marine Advisors for more details on marine mortgages !
2. Interim financing
Some credit managers are very interested in boat financing and include much flexibility to financing contracts granted to their clients. They accept that the boat sails in Canada, USA, Carribean and elsewhere.
The large number of marine transactions that we manage with financial institutions, allows us to refer you to the branch of the bank offering the best plan (interest rates, repayment flexibility, etc.) this free of charge on your part.
The Bridge Financing is rather for a temporary situation than a real financing plan.
Following your purchase at a Canadian dealer, your lender will be happy to offer you a real financing plan.
He will allow you to get the benefits of the marine mortgage at the time of your purchase (rate of interest, term and amortization period), while your marine consultant completes the formalities of registration and mortgage.
Contact one of our Marine Advisors for more details on the Bridge Financing.
3. Personal loan
Some credit managers are very interested in the financing of boats and give much flexibility to maritime loans granted to customers, even if the vessel sails in Canada, in USA, the Caribbean or elsewhere.
Given the large number of marine transaction that we manage for financial institutions, we can refer you to branch offering the best conditions (interest rates, repayment, flexibility etc.), this free of charge.
This credit agreement is designed for the financing of miscellaneous consumer goods such as furniture and motorIt has no particular affinity for marine products. Its simplicity of use has a price. This must be taken into account:
Usually high interest cost: the lender wanting to protect himself from any future rate increases and considering that the guarantee is not as good as a marine mortgage.
Advances are non-transferable: a subsequent buyer cannot continue paying youor loan. A new loan has to be granted.
Owner cannot borrow again: If the owner qualifies, we will then register the boat and will record a maritime mortgage.
Are excluded:
boats kept “in bond”
sales by an individual
sales of accommodation
Contact one of our Marine Advisors for details on types of boats funding !
4. Line of credit
Some credit managers are very interested in the financing of boats and give much flexibility to maritime loans granted to customers, even if the vessel sails in Canada, in USA, the Caribbean or elsewhere.
Given the large number of marine transaction that we manage for financial institutions, we can refer you to branch offering the best conditions (interest rates, repayment, flexibility etc.), this free of charge.
These loans are directly related to the boat and often remain after its sale.
For any loan below $ 35,000 we recommend the following credit products:
The conventional personal loan
It requires high interest rates and its total refund period is usually 5 years or less.
The estate mortgage
Quite often, with this type of loan the family residence serves as the guarantee and requires high notarial fees.
Contact one of our Marine Advisors for details on maritime credit!
5. Guarantee
Some credit managers are very interested in the financing of boats and give much flexibility to maritime loans granted to customers, even if the vessel sails in Canada, in USA, the Caribbean or elsewhere.
Given the large number of marine transaction that we manage for financial institutions, we can refer you to branch offering the best conditions (interest rates, repayment, flexibility etc.), this free of charge.
Currently, the main lending institutions for vessels are:
National Bank of Canada
CIBC Bank
Laurentian Bank
Caisses Desjardins
Bank of Montreal
Some lenders provide a lot of flexibility to the maritime loans granted to their customers: competitive rates, flexibility in refunds, etc.
There are branches, in some cases, paying a portion of a maritime mortgage registration fee.
As maritime consultants we can:
Direct you to the most capable branch that can serve you better.
Help credit decision making
Foster the smooth conduct of the steps
Supervise the formalities of registration
Handle guarantee decision-making process
Contact one of our Marine Advisors for more details on marine credit.
