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Old 09-09-2015, 10:10 PM   #1
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Newbie and Trawler Financing Advice

Thank you for letting me join!!! Hope I don't get TOS for this, so here goes. I have a client who is looking for financing to construct a large group of new trawlers, so I thought this might be a friendly place to see if someone can recommend a financial institution to do this type of loan? Thanks!!!
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Old 09-09-2015, 10:22 PM   #2
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Have you thought about having your client present their proposal to Shark Tank?
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Old 09-09-2015, 10:26 PM   #3
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How much is he looking for? How many trawlers and what is is his projected margins?
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Old 09-09-2015, 10:28 PM   #4
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Reply to Shark Tank comment

Interesting response, but my client wouldn't be interested in being on tv.
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Old 09-09-2015, 10:32 PM   #5
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Menzies,
I would prefer not to put the specifics of the deal on this forum. Do you yourself do this type of financing?
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Old 09-10-2015, 10:02 AM   #6
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Welcome to TF.

Sorry, can't answer your question. With as many boat manufacturers who have gone under in this country, I would be surprised if anyone in the USA would do this type of loan. Again, I have no direct knowledge of this type of thing but if I had a vision for a large number of trawler sized boats, I would search for a contract builder in China and would think they might have some financing contacts.

Have you considered contacting some of the USA boat builders directly to see if they can mention applicable finance companies? They may have suggestions and some of them might even be interested in building the boats. Maybe somebody like Mirage or Pursuit. There seem to be a lot of hungry boat builders out there.
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Old 09-10-2015, 11:17 AM   #7
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Or possibly talk to a few boat manufacturers into funding a new partnership company that would build these trawlers. No sense in starting from scratch, since you could utilize all of that knowledge and collaborate on something new.
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Old 09-10-2015, 10:22 PM   #8
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Quote:
Originally Posted by GA Peach View Post
Thank you for letting me join!!! Hope I don't get TOS for this, so here goes. I have a client who is looking for financing to construct a large group of new trawlers, so I thought this might be a friendly place to see if someone can recommend a financial institution to do this type of loan? Thanks!!!
If your client is coming to you for possible financing then he needs to stay out of the boat business. If you are going into this business on borrowed money, you're likely to find yourself in trouble. Second, someone who can really afford to build trawlers already has plenty of their own sources for funding.

The number one reason for failure of boat builders is under-capitalization. The business is much too volatile to have debt. You must be in position to weather the slumps. And the business is a huge gamble. I honestly believe an investor in this business should be in position to be fine if they lose every dime of his investment.
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