You are ready to make your next large purchase. Perhaps it is fishing quota, a permit, a new vessel purchase, or a large shipyard project. Before you start spending money you should consult with your banker beforehand.
- How much can I afford and what loan amount can I qualify for? Your banker can assist with cash flow planning for the loan amount you are requesting.
- What are closing deadlines? Discussing timelines with your banker before signing a purchase and sale agreement can avoid surprises on loan processing times.
- Do you need to consult your maritime attorney or broker for structure of quota holdings? Will the quota be held under your name or a business name? Perhaps a change in business entity documents is needed.
- What are insurance requirements? Your banker can work with your insurance agent to determine any necessary changes to coverage levels to meet loan requirements.
In this session you will have the chance to discuss financing topics and questions with an experienced maritime commercial banker.