I need $300,000

Captain Greg Sears · 10-25-2009, 08:09 AM

I am in the proses of getting a new boat built. My costs are $300,000. I am looking for information on Bank loans, Private loans, Government grants for fisherman or Business loans. If anyone is in the finance business and has some ideas or experience I would appreciate some information.

here is a artist rendering of the boat we are planning to build

backman · 10-25-2009, 08:39 AM

Interesting design; I've seen a Montauk boat or three along the same battlewagon DE design.

What's the hull?

Captain Greg Sears · 10-25-2009, 08:50 AM

Quote:

Originally Posted by backman

Interesting design; I've seen a Montauk boat or three along the same battlewagon DE design.

What's the hull?

Ellis 40' X 14' being built by Don Ellis "Ellis Boatworks ME" if I can get the finance worked out.

AlloyToy · 10-25-2009, 09:02 AM

Is this a new design or have they built this boat before??

Why not have Ellis hold the note?? I can't imagine any builder is setting any records right now, if they want the business then work a deal with them. It may give you an upper hand especially if there are issues with the hull design, ride ect...

300K is certainly some coin....work with their coin instead of yours

Good Luck, can't wait to see the first blood on the decks
AT

Shortfin · 10-25-2009, 09:06 AM

Try your local boat brokers and or dealers . I am sure they have a list of lenders

for grants and or fisherman loans try the Gloucester fishermans assoc. ,they might be able to steer you in the right direction.you may have an assoc. that is close to your port .

I am guessing they look at charter vs full time comm.

another idea is to refi your home for part or all of it

wrap-check · 10-25-2009, 09:17 AM

Greg -- call my dad this week. That's the sort of thing he always has a line on.

Cool looking boat - but I would watch the budget. I've seen alot of new construction blowing out budgets and timelines lately.

-Jay

Captain Greg Sears · 10-25-2009, 09:25 AM

Quote:

Originally Posted by AlloyToy

Is this a new design or have they built this boat before??

Why not have Ellis hold the note?? I can't imagine any builder is setting any records right now, if they want the business then work a deal with them. It may give you an upper hand especially if there are issues with the hull design, ride ect...

300K is certainly some coin....work with their coin instead of yours

Good Luck, can't wait to see the first blood on the decks
AT

That is a great option I will discuss that with them.

It is a new design for the super structure and pilot house. But an old hull and power plant design.

The build complete will be about $200,000 plus engine and electronics.

Inspect vessel to ten to twelve passengers but will probably stick to six max for fishing. Equipped for Diving also.

300 to 500 mile range

sleeps 7, generator, kitchen, shower, cockpit helm, Ice maker fish box and more.

oldmud · 10-25-2009, 10:30 AM

Nice looking design Greg, can you say Georges !!!!/ Brown's bank ???

SaltyDog · 10-25-2009, 11:39 AM

A range of 300 miles isnt enough for a boat like that. Make sure you get the largest fuel tanks you can. Should have a range of 400-500 miles.

Fortunate One · 10-25-2009, 12:08 PM

Capt Greg,

You probably run more hours in a season than I've run in a lifetime.

But I've received a lot of experience about boat building and I thought I'd pass on something that you may want to consider.

I see you're planing on installing an ice maker. I was going to do the same until I really looked into it. I mean really looked into it. If you're going with a high end unit that's one thing but if you're planing on the standard plug and play units you may want to consider installing freezer plates. Less parts to break, initial cost is less money and if you insulate the box correctly you could freeze a fish solid if you want.

It's really a good way to go. My system cost me 2K less than a plug and play unit and I don't have to worry if it's going to push Ice when I flip the switch.

You can make a saltwater slurry if you want and when you want.

It also eliminates carrying around the eatra weight of the Ice Maching and the extra weight of the ice. A freezer plate system is lighter and less expensive to install.

$300K seems a tad low once you start fitting her out. Not that it can't be done. But you're going to find as you go along that a little extra for this here and that there can add up quick. Hell, just the electronic upgrades can get ya. There's so many cool toys out on the market that it's crazy.

Financing is tough to secure these days without having great credit and collateral. The god damned bailed out assholes still find it hard to part with a buck.

I'd tend to doubt that the builder will carry the note. He's probably more concerned with cashflow. But he may be able to put you in contact with a finance company that he's worked with.

Good luck on the project.

I'd love to see the build documented on the net.

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10-25-2009, 08:39 AM	#2
backman I think Admin is going to let me have this space Join Date: Dec 2007 Location: Mass Posts: 1,207 Credits: 4,984.3 Boat: Carolina Classic 28 Home Port: Falmouth	Interesting design; I've seen a Montauk boat or three along the same battlewagon DE design. What's the hull?

10-25-2009, 09:02 AM	#4
AlloyToy Sit down Shut up And fish Join Date: Feb 2008 Posts: 580 Credits: 2,718.8 Boat: Pacific V235HT "Alloy" Home Port: On A Trailer Best Catch: 42# Striper/150 BFT	Is this a new design or have they built this boat before?? Why not have Ellis hold the note?? I can't imagine any builder is setting any records right now, if they want the business then work a deal with them. It may give you an upper hand especially if there are issues with the hull design, ride ect... 300K is certainly some coin....work with their coin instead of yours Good Luck, can't wait to see the first blood on the decks AT

10-25-2009, 09:06 AM	#5
Shortfin Crab mustard is good Join Date: Jan 2008 Location: Falmouth Ma. Posts: 759 Credits: 1,019.8 Boat: 18 Edgewater Home Port: Falmouth Best Catch: Grander Blue Marlin/203 Big Eye Occupation: Manufacturers Rep for Machining, Yacht Maintenance , Delivery Captain	Try your local boat brokers and or dealers . I am sure they have a list of lenders for grants and or fisherman loans try the Gloucester fishermans assoc. ,they might be able to steer you in the right direction.you may have an assoc. that is close to your port . I am guessing they look at charter vs full time comm. another idea is to refi your home for part or all of it

10-25-2009, 09:17 AM	#6
wrap-check Stop staring at my Avatar. Join Date: Oct 2006 Posts: 371 Credits: 7,157.9 Boat: 31' Duffy Home Port: Sandwich, Ma Occupation: LAURA-JAY CHARTERS	Greg -- call my dad this week. That's the sort of thing he always has a line on. Cool looking boat - but I would watch the budget. I've seen alot of new construction blowing out budgets and timelines lately. -Jay

10-25-2009, 10:30 AM	#8
oldmud Crab mustard is good Join Date: Oct 2006 Location: Bath,Maine Posts: 848 Credits: 2,244.1 Occupation: retired/boat builder/tuna fisherman	Nice looking design Greg, can you say Georges !!!!/ Brown's bank ???

10-25-2009, 11:39 AM	#9
SaltyDog I practice safe fishing Join Date: Nov 2008 Posts: 73 Credits: 643.8	A range of 300 miles isnt enough for a boat like that. Make sure you get the largest fuel tanks you can. Should have a range of 400-500 miles.

10-25-2009, 12:08 PM	#10
Fortunate One Stop staring at my Avatar. Join Date: Jan 2006 Posts: 434 Credits: 3,239.9	Capt Greg, You probably run more hours in a season than I've run in a lifetime. But I've received a lot of experience about boat building and I thought I'd pass on something that you may want to consider. I see you're planing on installing an ice maker. I was going to do the same until I really looked into it. I mean really looked into it. If you're going with a high end unit that's one thing but if you're planing on the standard plug and play units you may want to consider installing freezer plates. Less parts to break, initial cost is less money and if you insulate the box correctly you could freeze a fish solid if you want. It's really a good way to go. My system cost me 2K less than a plug and play unit and I don't have to worry if it's going to push Ice when I flip the switch. You can make a saltwater slurry if you want and when you want. It also eliminates carrying around the eatra weight of the Ice Maching and the extra weight of the ice. A freezer plate system is lighter and less expensive to install. $300K seems a tad low once you start fitting her out. Not that it can't be done. But you're going to find as you go along that a little extra for this here and that there can add up quick. Hell, just the electronic upgrades can get ya. There's so many cool toys out on the market that it's crazy. Financing is tough to secure these days without having great credit and collateral. The god damned bailed out assholes still find it hard to part with a buck. I'd tend to doubt that the builder will carry the note. He's probably more concerned with cashflow. But he may be able to put you in contact with a finance company that he's worked with. Good luck on the project. I'd love to see the build documented on the net.