Pinnacle Marine offers a variety of beneficial services to help you with the selection and financing of your boat! We have several sources for financing excursion vessels. We require the following materials to submit to a lender, they are:
- Company Brochure
- 3 years of income tax returns (personal and corporate)
- Financial statement (personal and corporate)
- Business plan including 3-year forecast
Lenders typically require a 25% down payment.
Interest Rates (fixed): Equal to seven-year treasury notes plus 325 basis points (3.25%) or 5-year interest rates swaps plus 375 basis points (3.75%) or LIBOR plus 375 points (3.75%). For current treasury note rates and 5-year interest rate swaps click here. For current LIBOR rates click here.
Interest Rates (floating) : Prime Rate plus 75 basis points (.75%)
For vessels under $1 million, the loan term is 5-7 years, over $1 million the loan term is 10-12 years.
The London Interbank Offered Rate Index (LIBOR) is an average of the interest rates that major international banks charge each other to borrow U.S. dollars in the London money market. Like the U.S. treasury the CD indexes, LIBOR tends to move and adjust quite rapidly to changes in interest rates.
- Americans with Disabilities Act
- Canadian Passenger Vessel Association
- Code of Federal Regulations (CFR)
- Cummins Marine
- John Deere Diesel Engines
- National Association of Marine Surveyors, Inc. (NAMS)
- Passenger Vessel Association (PVA)
- Passenger Vessel Foundation
- Rolls-Royce (MTU)
- Society of Accredited Marine Surveyors, Inc. (SAMS)
- Transport Canada Acts and Regulations
- Transport Canada Marine Safety
- US Army Corp of Engineers – Navigation Information Connection
- USCG K-Boat Inspection Booklet
- USCG Safety Management System (SMS) Manual
- USCG Streamlined Inspection Program (SIP)
- USCG T-Boat Inspection Booklet
- ZF Marine
List Your Boat
Interested in selling your vessel? We can help. Pinnacle Marine offers the experience, resources, and knowledge to help you with selling your boat. Just send us your boat information through our online form.
Insurance, we can help with that too, please fill out the application form here.