For borrowers looking for fast funding for a boat loan, LightStream is a great option. The lender offers same-day approval and even same-day funding in some cases.
Bank of the West features low rates, widespread availability, and very large loan amounts (up to $5 million) making it a great choice for borrowers with good credit looking to purchase an expensive boat.
Best for Bad Credit- For borrowers with bad credit, Southeast Financial is a good choice for a boat loan. This lender has a minimum credit score requirement of 550.
Best for In-House Financing- Mountain America Credit Union is our top choice for a boat loan with in-house financing. It provides funding directly through authorized dealers for both new and used boats.
Best for fast funding and below-average credit- LendingPoint is an online lender based in Atlanta that offers personal loans to prospective borrowers in 48 states and Washington D.C.
Best for boats up to 20 years old- Trident matches you with a lender from its network based on your specific needs, helping you save time normally spent shopping around.
Best for comparing multiple offers- Universal Credit is an online lending platform that offers personal loans between $1,000 and $50,000 through its partners. Repayment terms range from 36 to 60 months.
Best Marine Lending Specialist- Trident Funding offers competitive rates, specialize in custom marine financing, and have been in business since 1996.
Best Commercial Loan- Coastal Financial offers a quick application process, fast funding, and finances new and used boats as well as charter boats.