Fishing vessel finance
Funding for inshore potters, creel boats, trawlers and scallopers, assessed on the licence, the quota and the landings behind the business.
Whole-of-market — 60+ lenders searched, including
Can you finance a fishing vessel?
Yes, though fishing vessels are a specialist underwrite even by marine standards. The boat is funded as a commercial asset on hire purchase or lease, and used vessels make up most of the market. What determines the deal is not really the hull: it is the licence and, for quota species, the fishing opportunity attached to the business. A funder wants to see the licence position, recent landings and the buyer’s track record at sea. Buyers regularly assume the licence transfers automatically with the boat, and it does not — licence and entitlement are handled separately from the sale of the vessel.
Used kit: Yes — the fleet is overwhelmingly second-hand and hulls of thirty years and beyond are funded where survey, licence and landings support them.
Get a quoteor call 0333 772 4864
What would a fishing vessel cost per month?
Asset finance is quoted on a flat rate, so that is what the buttons show, with the equivalent APR beside it. Your exact rate depends on the asset, the term, the deposit and the lender.
Prime is an established, profitable business with clean credit. Specialist covers newer businesses and credit that needs explaining — the asset itself carries part of the risk, which is why finance is often available where an unsecured loan is not.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 5.15% flat rate (equivalent to 9.9% APR representative), you would repay around £628 a month; total amount repayable approximately £30,150, of which £5,150 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval.
Rates shown are indicative flat rates with the equivalent APR alongside — the two are not the same number. Indicative only and does not constitute a quote or an offer of finance. Subject to status and lender approval.
How lenders treat it
Very few funders write fishing boats, so placement is everything and the wrong approach burns weeks. A lender in this space assesses the trading income from landings, the licence and any quota or entitlement attached, the coding and survey position and the skipper’s experience. They understand that a fishing vessel resells into a small national market, sometimes to a buyer in another port, and they price the security accordingly. Title is established through Part 1 registration, the fishing vessel registration and the chain of bills of sale, with any existing marine mortgage discharged on completion. Harbour dues, berth allocation and shore store are separate obligations that cannot be funded with the vessel.
Makes and models we fund
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Cygnus GM 32 | Under-ten metre potter |
| Cygnus Cyfish 33 | GRP inshore fishing vessel |
| Cheetah Marine 9.95m catamaran | Inshore creel and potting boat |
| Macduff Ship Design 12m trawler | Steel inshore trawler |
| Parkol Marine 24m trawler | Beam or otter trawler newbuild |
| Offshore 105 scallop dredger | Scallop dredging vessel |
| Gaelforce hydraulic hauler package | Deck hauling and shooting gear |
| Volvo Penta D13-500 main engine | Fishing vessel repower |
| Caterpillar C12.9 marine engine | Main propulsion engine |
| Simrad and Olex plotter package | Navigation and seabed mapping fit |
Get a quoteor call 0333 772 4864
Who buys one
Skippers buying their first boat after years crewing, family businesses replacing an ageing hull, and established operators moving from an under-ten metre boat to something that can work further offshore. The trigger is often a licence and entitlement becoming available, or a boat coming up in the same port that the skipper already knows. Purchases cluster around ports on the East and South West coasts and the Scottish islands, and timing is driven by the fishing season rather than the calendar year.
Get a quoteor call 0333 772 4864
How it is treated for tax
Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Fishing vessel finance questions
Does the fishing licence come with the boat?
Not automatically. The licence and any entitlement are handled separately from the sale of the hull and have their own transfer process. A funder will want the licence position confirmed before completion, because a vessel without the right to fish is worth far less than one that can work.
Can quota be financed?
Quota and fishing opportunity are not tangible assets in the way a boat is, so they are not funded as equipment. They matter enormously to the underwrite because they determine what the vessel can earn, and a funder will ask about them, but the agreement itself is written against the vessel.
Can gear and winches be included?
Installed equipment such as haulers, winches, net drums and refrigeration usually can be, since it forms part of the working vessel. List it all so the agreement matches what is actually aboard. Separately purchased gear can often be funded in its own right. Make sure the inventory on the bill of sale matches what is actually aboard on the day.
I am a first-time skipper. Will anyone fund me?
It is harder, but sea time counts. A funder will look at your years crewing, your certificates, the licence you are acquiring and what the boat has landed historically. A proven vessel with a known catch record supports a newer skipper far better than an unknown hull.
What survey does a fishing vessel need?
A condition survey out of the water, plus the statutory survey and certification appropriate to the vessel size and category. Funders read both. Steel thickness, machinery condition and the state of the deck gear all affect what a lender will do on an older working boat.
Get a quoteor call 0333 772 4864
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See everything we fund in boat and marine finance →
Not an offer of finance. All finance is subject to status, affordability and lender approval.
Get your quote
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 0333 772 4864 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.