Superyacht Financing
Superyacht Financing -
En español
Servicing the U.S., Canada, Central and South America.
Excel Credit provides financing for superyacht category concentrating our efforts in the western hemisphere. Our superyachts program with loans from $3.5 million dollars USD up to a maximum of $25 million dollars USD. We will accept applications from U.S citizens and non-U.S. citizens.
- All used yachts will require a survey (must include new survey, full haul-out and sea trial)
- Mooring outside the continental U.S. (acceptable)
- Full-time Charter will require a minimum FICO 760+ or equivalent min for non-U.S. citizens (50% LTV, maximum term 120 months)
- Cash-out refinance – maximum 50% LTV (Available to U.S. citizens only)
- Vessels 16-20 years old, value must be clearly defined by comps and BUC value and considered case by case. Hard cap on age is 20 years.
- No Bareboat Charters allowed.
- All Superyachts loans are required to be closed by an attorney acceptable to the underwriter and at the borrower’s expense. Excel Credit can provide standard pricing for a preferred attorney.
- Ownership of collateral not permitted in (Montana LLC)
- Loan approvals and rate locks are good for 60 days.
- GPS with satellite reception must be always maintained on the vessel.
- All loans will require Breach of Warranty insurance.
- All Superyacht loans are subject to a minimum $3,500 USD origination fee.
- A pre-payment penalty of 1% for 12 months of payments after closing.
- All loans are funded in U.S. Dollars.
ACCEPTABLE SUPERYACHT FLAGS
BVI, CAYMAN ISLAND, EU COUNTRIES, JAMAICA, MARSHALL ISLANDS, and US COAST GUARD. Other flag registries will be considered on a case-by-case basis along with borrower citizenship.