Case Studies

Self-employed applicant purchasing a used motor yacht. Applicant did not file personal income tax returns for prior 2 years, making it difficult to verify personal income and corresponding debt ratio. Despite this shortcoming, credit commitment issued within 24 hours of receipt of application package.

Applicant purchasing a used, sport, fish boat. Due to a previous divorce, credit history contained multiple late payments, yielding a credit score of 610. Despite his high net worth, applicant had been turned down at traditional yacht lenders. Dealer referred application to Maritime Capital Group. Credit approval and subsequent boat delivery took place within 1 weeks time.

Applicant had previously purchased a sport fish yacht for cash. Immediately following its acquisition, the vessel underwent significant renovations, which were also paid by applicant. Boat used for sport fish charters in summer months. Applicant to utilize yacht’s built-in me equity to fund a business investment. Upon obtaining an updates vessel survey, a $250,000 equity loan was made to borrower.

Applicant purchasing a repossessed yacht located in Sardinia for intended relocation to United States after sale. Traditional yacht lenders would not provide financing because vessel was located abroad and had not cleared US Customs. Maritime Capital Group worked with applicant, repossessing bank and Italian authorities to provide purchase money financing while vessel remained in Europe.