Boat Loans
Get a boat loan that truly turns the tide.
Make it work
There are some business goals that can’t be reached from shore. If you see a new opportunity on a far horizon, Machias Savings Bank has boat loans for purchases and for new construction. We also refinance boat loans to help you weigh anchor and get underway.
Make it easy
While financing a new boat feels risky to some lenders, we can’t wait to put our friends and neighbors in stronger, more seaworthy vessels. Whether you need a cruising vessel or a commercial fishing boat loan, your personal banker can get you on the water faster.
- Our commercial boat loans can be used for purchasing, refinancing, or building a boat
- We can let you access equity from your Maine boat loan to cover expenses or seed a new voyage through a commercial line of credit.
- We offer competitive commercial boat loan interest rates and terms (10 years on new boats and 7 years on used boats)
- We may be able to take your existing boat as a down payment for a new boat or new boat construction
- We can make it possible for you to make annual payments or stagger payments on your Maine boat loan to accommodate your slow season.
- We let you pay off your Maine commercial boat loan early with no penalties
After 150 years, Machias Savings Bank is still the best way to finance a boat or refinance your boat loan while keeping your business afloat.
When you work the water, it can sometimes feel like the currents are against you. Your business banker is always right beside you and together, we will sail on through.
We ready to help move you and your fishing business forward.
Should we be part of your story?
Business Banking that Moves Maine Forward.
Equal Housing Lender.