Boat Loans Built for Life on the Water
Life is better on the water, especially in New England. Whether you're fishing off the coast, taking a day trip to Block Island, or just looking for a weekend boat for the family, Shoreham Bank is here to help you finance the boat you love, with no boat age restrictions.
Our Boat Loans
Loans Up To
$1,000,0001
No Boat Age Restrictions
Any Year Boat!
Competitive
Fixed Rates
We Finance:
- New Boats
- Used Boats
- Power Boats
- Sail Boats
- Pontoon Boats
- Classic Boats
- And More!
With No Boat Age Restrictions, we can get you into the boat you love, vintage or brand new!
General Requirements:
- Minimum credit score of 700
- Minimum 20% down payment
- No liveaboards
- Recreational use only
- Other restrictions may apply
Every financing situation is different, which is why we are happy to discuss your situation with no obligations! Fill out our form below and a Boat Loan expert will reach out!
What makes our boat loans different?
We're a local bank that cares about your success on the water. When you finance you boat with Shoreham Bank, you get:
- No boat age restrictions
- Financing for new and used boats
- Personalized one-on-one service from our local lending team
- A bank that values long term relationships, and not just transactions.
When you finance with Shoreham Bank, you're choosing a bank that understands boating needs, the local waters, and the importance of personalized service.
How to Get Started?
We keep the process straight forward.
- Contact our boat loan specialist or apply online
- Discuss your boating plans, new, used, or seasoned
- Review your financing options
- Hit the water with confidence!
At Shoreham Bank, we care about our customers which is why any time you'd like to ask questions or discuss our financing options we are available, no obligations, no pressure.
Frequently Asked Questions about Boat Loans
Can you get financing for an older boat?
Yes! While many institutions won't finance an older model boat, at Shoreham Bank we see the value in older boats and offer financing with no boat age restrictions.
Is a boat loan the same as a personal loan?
Not always, Boat Loans are often secured by the vessel like at Shoreham Bank. Personal loans are typically unsecured and may carry different terms.
Do I need a big downpayment for a boat loan?
This varies depending on the lender. At Shoreham Bank, a minimum downpayment of 20% is required to finance your vessel.
Is it harder to finance a used boat compared to a new boat?
Used boats can sometimes be harder to finance, but not all lenders have the same restrictions. At Shoreham Bank, we offer boat loans with no vessel age restrictions, because we understand the perfect boat, isn't always brand new.
Want to learn more? Fill out the form below and our boat loan experts will reach out to you!
Subject to credit approval.
1. Boat loans from $25,000 to $1,000,000 available for qualified borrowers. Loan amount, rate, term, and collateral requirements vary based on creditworthiness and boat eligibility. Additional conditions may apply.
