As specialists in all forms of commercial lending, Jade Finance provides workable options with our low doc boat finance. Sourced through our specialist lenders, boat loans with no paperwork enable operators to obtain marine financing, acquire their vessel, and get their business underway.
As specialists in all forms of commercial lending, Jade Finance provides workable options with our low doc boat finance. Sourced through our specialist lenders, boat loans with no paperwork enable operators to obtain marine financing, acquire their vessel, and get their business underway.
Obtaining approval for minimal documentation boat loans is essentially obtaining finance without presenting all the financial docs required in the application form. Docs or doc, are simply short for documents or documentation. The difference between ‘low’ and the reference to ‘no doc’ is the quantity of the paperwork available.
Specifically in the commercial lending industry, docs refers to any or all of the financial paperwork, spreadsheets and records on the business. These cover the tax return, annual accounts, BAS returns, asset and liability details, turnover figures, bank statements, and cash flow details.
An operator that has been trading for less than a full year typically does not have access to all these records. Where a business is in the setting-up stage, they may not have any docs. These operators may be eligible to apply for no doc boat finance.
Securing low doc boat finance at our competitive rates, can present a favourable alternative for many operators, compared with other options.
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Where a small operator is not eligible for commercial financing due to lack of financials, they may need to take on a Personal Boat Loan. The rates are higher on personal credit compared with commercial, loan limits are not as high, balloons not always an option, and terms not always as flexible. In addition, tax benefits for the business operation may not be realised.
Another option may be to purchase the boat outright and bypass taking on finance completely. For some smaller boats such as dinghies and jet skis, this may be a possibility. But many individuals may not have immediate access to sufficient cash to pay for larger commercial vessels.
Seeking an investor as a partner may be considered. This may provide a pathway to immediate finance. But control of the business may need to be relinquished. For a low doc boat loan quote for comparison and budgeting purposes, or to proceed with an application, contact us.
Our guides offer quick comparisons and simple explainers to help you move through the financing process with confidence.
| Lender | Loan Product | Advertised Rate | Comparison Rate | Monthly Repayment |
| Jade | Boat Loan | 5.67%Secured | 6.10%Comparison | $575.39 MONTHLY |
| Heritage | Personal Loan | 8.49%Fixed Rate | 9.12%Comparison | $615.35 MONTHLY |
| Westpac | Personal Loan | 7.99%Fixed Rate | 9.18%Comparison | $608.15 MONTHLY |
| CBA | Personal Loan | 7.50%Fixed Rate | 8.20%Comparison | $601.14 MONTHLY |
| Bendigo | Personal Loan | 7.79%Unsecured | 8.51%Comparison | $605.28 MONTHLY |
| BOQ | Personal Loan | 10.99%Fixed Rate | 11.71%Comparison | $652.12 MONTHLY |
| ANZ | Personal Loan | 7.49%Fixed Rate | 8.18%Comparison | $601.00 MONTHLY |
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Jade
Boat Loan
|
||
| 5.67%Secured | 6.10%Comparison | $575.39 MONTHLY |
|
Heritage
Personal Loan
|
||
| 8.49%Fixed Rate | 9.12%Comparison | $615.35 MONTHLY |
|
Westpac
Personal Loan
|
||
| 7.99%Fixed Rate | 9.18%Comparison | $608.15 MONTHLY |
|
CBA
Personal Loan
|
||
| 7.50%Fixed Rate | 8.20%Comparison | $601.14 MONTHLY |
|
Bendigo
Personal Loan
|
||
| 7.79%Unsecured | 8.51%Comparison | $605.28 MONTHLY |
|
BOQ
Personal Loan
|
||
| 10.99%Fixed Rate | 11.71%Comparison | $652.12 MONTHLY |
|
ANZ
Personal Loan
|
||
| 7.49%Fixed Rate | 8.18%Comparison | $601.00 MONTHLY |
THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, EFFECTIVE 28/08/2026 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
When approved eligible as a low doc applicant, businesses can realise all the features of the selected credit facility including the option to include a balloon.
Subject to lender loan limits and individual applications, the full boat price may be included in the low doc finance.
Security for low doc financing is subject to lender guidelines and individual applications. Some applications may be required to provide collateral in addition to the vessel.
Interest rates are typically higher for personal than business loans. Loan amounts can be smaller, no tax benefits are provided, and terms may not be as flexible for personal compared with business options.
Yes. Leasing is one of the credit facilities available to low doc applicants.
Applicants for no doc loans must have an ABN and ID as essential requirements.
All types of boats used in a commercial enterprise may be financed with no doc loans. Subject to lender approval.
Interest rates on minimal documentation boat finance are offered following the lender’s assessment of the application.
Low doc applicants have some but not all the financials required. No doc applicants typically have none of the required financials.
Low and no doc finance are not specific credit facilities. They are descriptions of the business that is applying for the loan.
