A boat that earns its keep is a business asset, and it can be financed like one. 9ROK arranges finance for charter boats, workboats, commercial RIBs and passenger vessels for businesses across Scotland, from the Clyde to Shetland.
We are based in Oban, on a working harbour, and west coast and island businesses are the ones we know best. A vessel here is often the whole business: the wildlife trip, the fish farm contract, the ferry link that is not on any timetable.
We arrange business finance only. If you are buying a boat or yacht for your own leisure use, you need a marine finance provider that deals with private buyers.
Start a marine finance enquiry
Commercial vessel finance covers more than most owners expect: if the boat earns money, there is usually a lender for it. Workboat finance and charter boat finance are the core of it, and charter yacht finance works the same way when the yacht is run as a business.
New build and used vessels can both be financed. If your boat is not on this list, ask. Specialist craft are usually considered case by case.
Boat finance for business comes in three shapes. Which one fits depends on the size of the vessel, whether you are buying it or already own it, and how the lender prefers to secure that class of boat.
Commercial marine mortgage. A loan secured on the vessel itself. The lender registers a marine mortgage against the boat on the UK Ship Register and removes it when the loan is repaid. This is the usual route for larger and higher value vessels.
Hire purchase. The lender buys the boat and you pay for it over an agreed term, then own it at the end. Common for RIBs, smaller workboats and engines.
Refinance. Releasing money from a vessel you already own outright, or replacing an existing loan, to fund a refit, a second boat or working capital.
Buying an established trip or charter business, boats included, is a business purchase as much as a vessel purchase. The lender looks at the bookings history, the reviews and the goodwill as well as the hull, and the funding may combine a marine mortgage on the vessel with a business loan for the rest. A repower is a common case on its own too: new engines on a sound hull can add years to a working boat, and they can be financed without touching the rest of it.
| Terms | Indicative range |
|---|---|
| Loan size | From about £25,000. Larger commercial tonnage is usually from £500,000 upwards, with a different set of lenders |
| Deposit | Typically from 20% of the price or value |
| Term | Up to about 7 years for most vessels, up to about 10 years for larger commercial vessels |
| Vessel | New or used. Age limits vary by lender and vessel type |
| Borrower | UK businesses. Trading history and accounts matter as much as the boat |
These are market ranges, not an offer. Every case is priced on the vessel, the business and the deposit. Sole traders and partnerships need to borrow more than £25,000; below that, lending to an unincorporated business falls outside what we arrange.
A marine case is read in two halves: the vessel, and the business that runs it. Expect questions on both.
We look out on Oban Bay every working day, and the boats in it are the reason this page exists. The wildlife trips out of Tobermory, the dive boats, the fish farm workboats heading up the Sound of Mull: each one is a business, and financing one means finding a lender who understands what it is looking at.
Where the boat lives matters more than owners expect. Some lenders are cautious about a vessel kept and worked a long way from a surveyor or a yard, and some are wary of island-based businesses altogether. Others are entirely comfortable with a RIB on Skye or a workboat out of Stornoway. Choosing a lender who is comfortable with where your vessel works is most of the job, and it is the part we do first. Our page on business finance in Argyll and the islands covers the wider picture for island businesses, from ferry-dependent valuations to the boatyards and sheds ashore.
Seasonal income is normal here, and it can be presented as normal. A wildlife or charter boat working from Oban, Mull, Skye or the Small Isles earns most of its money between April and October, then comes out of the water or onto a winter mooring. A lender who sees five strong months and seven quiet ones without context reads risk. Shown properly, with a full year of accounts, bookings by month, the lay-up costs, and how the winter is carried, whether from reserves, a second line of work or a seasonal repayment profile, it reads as a business that knows its own year. Marine tourism sits right beside the hospitality businesses we finance ashore, and the same habits that get a guest house funded apply on the water.
Aquaculture is the other big marine employer on this coast, and fish farm support work is usually done on contract. A signed contract with a farm operator, with its term, its rates and a record of renewals, is one of the strongest things a workboat case can show. It turns a forecast into income a lender can see, and it can carry a newer business further than its own accounts would.
The work runs the length of the coast: Oban, Tobermory and Mallaig, Ullapool and Stornoway, Kirkwall and Lerwick, the Clyde, Inverness and the Moray Firth, and Aberdeen and Peterhead, where it leans more to survey, crew transfer and offshore support. North of the Great Glen, our page on business finance in Inverness and the Highlands covers the seasonal and postcode questions that apply to boats as much as to buildings.
The form takes two or three minutes. With it we can give you an indicative view within one working day, with no credit check and no obligation. You pay us no fee. We are paid a commission by the lender when your finance completes, and we tell you the figure in writing before you commit.
No. We arrange finance for businesses only. A boat or yacht for private use needs a marine finance provider that deals with private buyers.
Sometimes. Lenders will want to see relevant experience, a larger deposit and a realistic forecast. An existing contract or forward bookings help.
Yes, if it is run as a business, with the right coding, insurance and a plan that shows the charter income. A yacht that is mainly for your own use with occasional charter is treated as a private purchase.
Yes. Expect a survey and a valuation, and check with us on age, as limits vary by lender and vessel type.
Typically from 20%, more for older vessels, new businesses and specialist craft. Indicative only.
Some do and some will not. Matching the case to a lender who is comfortable with where the vessel works is what we do.
Often, yes, to fund a refit, an engine replacement or a second boat.
We aim to give an indicative view within one working day. Completion depends on the survey, registration and the lender, and is usually a matter of weeks.
Fishing vessels are a specialist area and lender appetite is narrower. Send us the details and we will tell you straight whether we can help.
Tell us the boat, the price and the work it does. One working day to an honest view, no credit check.