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Last updated on Feb 1, 2023
2 min read

Marina

It can be a challenge to find a good loan for a marina property. There are a few great options, though. Learn more.

Better Financing Starts with More Options Start Your Application and Unlock the Power of Choice. Click Here to Get Quotes →$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1M offered by a Credit Union at 5.1%Click Here to Get Quotes
In this article:
  1. Marina Loan Terms
  2. SBA Loans for Marinas 
  3. Get Your Free Marina Property Loan Quote Today
  4. Get Financing

There's nothing quite like a day out on the water, and, with over 20 million boat owners in the U.S., many people tend to agree. In 2017, marinas and boatyards generated an estimated $5 billion in revenue, while employing over 35,000 people across the country. Plus, experts suggest that the marina business is likely to improve in coming years, as a result of Americans enjoying an increase in their disposable income. So, if you're looking to get financing for your marina business, Commercial Real Estate Loans is ready and waiting to help. 

Marina Loan Terms

In general, our marina loan terms include: 

  • Loan Size: $1 million+

  • Loan Purpose: Loan can be used for property acquisition or refinancing, but cannot be used for business only-financing

  • Loan Term: 3, 5, 7 and 10-year fixed-rate terms

  • Amortization: 15, 20, 25 and 30-year options

  • Leverage: 55%-75% LTV allowance

  • DSCR: 1.40 minimum DSCR

  • Credit Score Requirement: 660 minimum

SBA Loans for Marinas 

While privately-insured loans are common in the marina industry, the SBA 7a and SBA 504 loan programs are also incredibly effective ways to finance your marina or boatyard. With SBA loans, marina owners can purchase property, buy equipment and get working capital for their business. That makes these loans significantly more versatile for business owners who need more than just property to jumpstart their business growth. While SBA loans have a lot of benefits, they do have stricter requirements than most other kinds of financing, including increased credit score requirements. 

Get Your Free Marina Property Loan Quote Today

It's easy: Just fill out the form below. Our team will spring into action and find you the best quotes out there.

In this article:
  1. Marina Loan Terms
  2. SBA Loans for Marinas 
  3. Get Your Free Marina Property Loan Quote Today
  4. Get Financing

Getting commercial property financing should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

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Commercial Real Estate Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

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