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01-09-2016, 06:43 PM #1
Need Collateral Based Loan Against Day Cruise Vessel
Hey All
I have a client that's looking for financing against their 360 passenger Day Cruise Vessel (1st position). They are seeking $15M. It has a Lloyds appraisal of $37M. Cost new is $60M. Owner willing to pay 10%+ Interest rate for 2-3 yr term. The ship is not in traffic at the moment but scheduled to be in traffic in Florida by late summer.(from Miami to Key West.) Open to creative financing and willing to pay hard money interest rates. The ship is in great condition. Money to be used for cosmetic and safety/ electronic upgrades. The company has no debt and the owner & his partners have vast experience in this industry. The ship can be seen and served in Jacksonville. Can anybody get this funded? or a company they can refer me to that can do this type of transaction?
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