New & Used Boat Loans
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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 Years
We offer flexible terms to fit your budget.
Fixed Rates Starting at 6.49%
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
How does a boat loan work?
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!
what credit score do you need for a boat loan?
We require a Credit score of 700 and above.
how much do you have to put down for a boat loan?
A 20% down payment is required.
does shoreham bank finance older boats?
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.
how do I apply for a boat loan with shoreham bank?
Submit your application directly on our website or call for assistance to explore your best options at 401-773-9725.
