• 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.