Boat Loans

New & Used Boat Loans

Are you ready to set sail on your dream boat? At Shoreham Bank we are dedicated to ensuring our customers receive the best lending experience possible. We provide personalized marine financing programs with flexible terms and competitive rates. Our experienced team will work closely with you throughout the process to ensure you quickly get out on the open water.


 
 

Our Loan Program

Whether you are financing a big, small, new, or used boat, our boat loans ensure smooth sailing throughout the entire financing process.

Loans from $25,000 - $500,000

Get the funds you need to make waves.


Terms From 10 - 20 Years1

We offer flexible terms to fit your budget.


Fixed Rates Starting at 6.49% APR1

Lock in a monthly payment with our fixed interest rates.


Financing For:

  • Power Boats  
  • Sail Boats  
  • Pontoon Boats  
  • Classic Boats  
  • And More! 

Requirements:

  • Minimum Credit Score 700
  • Min. Down Payment of 20%
  • Recreational Use Only
  • Additional Requirements Apply






























Our Boat Loan specialists are excited to hear about your plans to purchase a new boat! We will guide you to ensure smooth sailing through our quick and straightforward process. Once you have submitted your information, we will review your credit, income and details of your boat. Our goal is to get you out on the water so you can enjoy your new purchase without delay!
We require a Credit score of 700 and above.
A 20% down payment is required. 
Yes, we recognize the quality and value of older boats and we do not have any age restrictions so long as the boat have been well maintained and a professional survey to support the value and condition.
Submit your application directly on our website or call for assistance to explore your best options at 401-773-9725.








Contact a Boat Loan Specialist today


 
 
 
Subject to credit approval. 

1. Rates are subject to change without notice. Boat Loan terms available from 10 to 20 years (120 to 240 months). Monthly payment amounts and interest rates vary based on various factors including loan amount, repayment terms, and creditworthiness. As an example, a $50,000 loan at 9.99% APR for 10 years would result in 120 monthly payments of $660.71. Requirements for the 9.99% APR include minimum credit score of 700, maximum debt-to-income ratio of 40.00%, and a combined loan-to-value that does not exceed 80.00%. Payment disclosed does not include taxes, fees, and insurance; therefore, the actual payment may be greater.