Commercial Boat Loans: Start Your Nautical Industry

Commercial boat loans are a requirement if you are looking to get into the nautical industry. Whether you are looking to expand your fishery business, or you want to buy a tugboat, you are surely going to need financing for it.

Where to Go

There are many banks and commercial lending institutions that will consider commercial boat loans. The best rates however may come from those who specialize in these types of loans. Just a little research into the rates offered by various lenders can likely save you a great deal of money in the end. Where at all possible, you want to avoid getting a personal loan, as the interest rates tend to be much higher.

What if I have Bad Credit?

If you have bad credit trying to get commercial boat loans from a traditional lender is probably not going to go well. In this case, you will want to perhaps search the internet, or even pick up a few magazines related to the fishing industry that will likely have some sort of advertising for those with bad credit.

Another excellent resource is to contact the SBA. Even if there is not a direct program for your endeavor, they will likely be able to point you in the proper direction to find exactly what it is that you need.


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