Funding solutions for SMEs

Marine Finance

With over 20 years experience as funding specialists, SME funding UK Ltd can look to support the following Vessels

New or Used, Leisure & Commercial Marine:

• Coastal Ships

• Commercial Barges & Boats

• Day Charter Boats for Angling & Diving

• Ferries

• General Purpose Workboats

• Harbour Vessels

• Hire Boat Fleets

• Leisure Barges

• Narrowboats

• Powerboats

• Sailing Yachts

• Superyachts

• Support & Supply Craft

• Survey Vessels

• Tugs

• Windfarm Boats

Terms

• Purchase, refinance, rebuild or refurbishment finance

• Pre-owned vessels require survey & valuation

• Age of boat – typically up to 25 years at end of agreement

• Deposits: typically from 20-40%

• Part 1 registration required for advances over £50,000 &/or vessel used outside UK

• Advances: from £25,000

• Terms: Up to 7 years, can include balloon

• Customers: UK based & typically homeowners

Med-Based Vessels:

• Typically value over £600,000
• 40% deposit
• Borrower must have UK connection
• Interest only option

The documents requested so that we can make a start are as follows:

• Last 2 years accounts, not abbreviated
• Latest management accounts for the year to date
• As much detail on the asset as possible. To include manufacturer, model, age and value.
• 6 months bank statements
• A completed Finance Application Form
• A completed Client Agreement
• A completed Personal Information Form
• A completed Personal Asset & Liability Statement