Business or Commercial Boat Loans
Businesses purchasing marine vessels have the choice of a number of commercial finance products: Chattel Mortgage, Commercial Hire Purchase and Boat Leasing. These products vary in their treatment of GST, tax deductions, balance sheet entries and suit different accounting methods. It is important that businesses select the loan type that will best deliver benefits for their individual business structure to achieve their financial objectives.
Marine businesses may include salvage and repair services, recovery and emergency operations, boat charter, hire and rental businesses, water taxis, ferry services, tugboat services, cruise businesses and many other operators in the travel and tourism sector.