To provide newbuild yacht construction financing for a 2-year period, followed by a 20-year, fully amortized term loan for a total of 22-years. The buyer was in the midst of negotiating and finalizing his brand new yacht build shipyard contract with his east coast shipyard. They were of course also finalizing the yacht construction budget for our client’s 67′ competition yacht fisher that had incredible speed for such a yacht.
Assets America successfully provided a solution by arranging and funding a $4 to $5 million yacht construction loan with an excellent rate from one of our yacht funding partners. This 2-year yacht loan was followed by a 20-year permanent loan, fully amortized over 20-years. We were all very happy about the terms which were just what the doctor ordered.