NBOA Commercials
Marine Financing Center
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Welcome to NBOA's Finance Center. We've made marine financing easier than ever with our low interest rates and our effortless loan approval process. Whether you're purchasing a new or used boat or refinancing your current loan, NBOA's Finance Center will get you where you need to be.
Financing Benefits Include
- Access to Low Fixed Rates
- Fast and Easy Approval
- Extended Payment Term Options
- No first payment for 90 days
- No application fees and Reduced processing fees for NBOA Members
In Addition Enjoy
- Pre-approvals with NBOA's Instant Credit Decision application
- Automatic payment options
- Up to $50,000 in cash out options
- Cash Recapture options for vessel purchases made in cash within 6 months of your original purchase
Instant Loan Approval
Speed, simplicity, and the highest level of customer service
NBOA's Finance Center offers speed, simplicity, and the highest level of customer service in the industry.
You can rely on our friendly finance professionals to help simplify the loan process on your boat.
Applicants for loans up to $100,000 receive an instant credit decision within 90 seconds. Loans over $100,000 take up to 1 business day for approval.
Try our simple to use loan tools
FAQs about Marine Financing
What will my interest rate be?
Answer: Your rate will vary depending on a variety of factors. Your loan amount, down payment, credit profile and age and value of your boat are all factors that can affect your rate.
How long will it take to process my application?
Answer: Depending on your requested loan value, your application can take anywhere from a few minutes to 1 business day for approval.
How much of a down payment will I need?
Answer: The typical down payment amount for marine loans is 10% to 20%
Are there any limits or restrictions to the loan amounts you can service?
Answer: NBOA's Loan Center has no maximum amount restriction on loans and can provide financing in amounts as small as $15,000.
How are your loans calculated?
Answer: All our loans are simple interest loans meaning, you pay interest on the principal owed, nothing more.
Do you have an application fee?
Answer: Yes, however if you are an NBOA member the fee is waived.
What is Coast Guard Documentation and will my boat need it?
Answer: Coast Guard Documentation is a registration process that typically applies to boats 25 feet or longer. These boats need to be registered with the United States Coast Guard. To help with this, NBOA's Loan Center can file a First Preferred Ships Mortgage, which records the lender's lien with the Federal government, at your request.
What types of boats can you finance?
Answer: NBOA's Loan Center finances a vast majority of boats. From hard-to-finance vessels like mega yachts, high-performance, and multi-hull, we can do it all!
What age of boats can you finance?
Answer: We can finance boats manufactured as far back as 1919.
What types of finance terms do you offer?
Answer: We offer loans from 5 to 30 years.
Do you offer equity out programs?
Answer: Yes, you may receive up to $50,000 in cash out
