Boat Equipment Financing
It has long been said that if you live long enough you will see everything. That is never more true than in the realm of small business. Last year I bought a new boat before the gas was $5.25 on the water which it is today. I told the sellers broker that I financed small business’s equipment. A year almost to the day he called me and asked if I might be able to finance his friends business which a boat club franchise. It is especially gratifying to finance equipment you love and I love boats.
Although we had not financed any boats in the past I was hopefully optimistic we could put the financing together at eLease. When I learned more about the business and the insurance they needed to carry to operate the club I was very impressed and felt comfortable with the financing. We structured a 36 month Equipment Finance Agreement which would allow them to payoff early and also gave them true ownership in the equipment which protects us in case of one of their members gets in an accident. So in the end the situation was win win.
I especially like to finance different equipment because you learn so much about the equipment. See you on the water!
