Our client wanted to build a new vessel but had only leased his vessels in the past. We demonstrated to the lender how his mortgage payments would be significantly lower than his current monthly vessel lease payments and thus had sufficient cash flow to service the proposed debt. We arranged progress payments to the builder during construction and converted the interim finance to permanent financing when the vessel was delivered.

Ask nearly anyone who operates a vessel about the necessity to have a drydock large enough to accommodate their boat when a haulout becomes necessary. For topside repairs and maintenance having a crane barge available can expedite the work and cut downtime to a minimum. Our client knew that having both at his medium-sized shipyard was going to create increased traffic, more repair and refit work, and bottom line more profit.

We helped him put his financials in order, modeled his projected increased income over a five year period and proved that the new equipment would cash flow. A large down payment was not possible, so to conserve capital we cross-collateralized the new equipment with the client's fleet of deck barges. By utilizing the additional collateral value we reduced the advance and were able to lower his rate.

Our client had a very profitable freight business but was unable to provide potential lenders with a clear picture of his revenues. We provided critical information to the lender's credit underwriter that let him better understand the underlying value of the vessels and the routes served. After securing the first round of financing, we encouraged our client to adopt quality financial statements to streamline his reporting and better represent his business.

One of the industry leaders in canning sardines needed a way to smooth out his supplies of fish throughout the year. The solution was a 366' freezer vessel that could double as a dockside dormitory for hundreds of seasonal workers.

Few lenders were familiar with such a vessel as there were only three or four in service at the time. We worked with the buyer to provide detailed information about the herring fishery, reliable sources of supply, the production cycle, demand and distribution and how the vessel would fit into his already successful business. We demonstrated that the vessel would add significantly to the owner's bottom line and, effectively, pay for itself.

After the submission of the financial package, the owner had his financing in less than 30 days.