When you need commercial marine finance, you have two routes: approach a lender directly, or use a specialist broker like Doulton Bridging Finance. This page gives you a clear, honest comparison of both options - no spin, just the facts. (Spoiler: for most commercial marine finance cases, a whole-of-market specialist broker consistently delivers better outcomes than a direct approach.)
The Direct Lender Route
Going directly to a bank or lender for commercial marine finance typically involves:
- 1Identifying which banks or lenders offer commercial marine finance (fewer than you think)
- 2Approaching each lender individually and presenting your case from scratch
- 3Waiting for each lender to underwrite and come back with terms
- 4Comparing terms received (if you receive more than one set)
- 5Negotiating directly with the lender (with no market benchmark)
The commercial marine lending market has contracted since 2020. Several high-street banks that previously had active marine desks have reduced or withdrawn. The lenders who remain active - Close Brothers, Promarine, Barclays Marine, Santander Marine - do not all lend on every vessel type. Identifying which lenders are currently active and competitive for your specific vessel is non-trivial market intelligence.
The Specialist Broker Route
Using a whole-of-market commercial marine broker like DBF typically delivers:
| Factor | Going Direct | Using DBF (Specialist Broker) |
|---|---|---|
| Lender access | 1 lender per approach | 130+ lenders in one submission |
| Market rate benchmark | No comparator | Competitive tension between lenders |
| Case packaging | You do it yourself | DBF packages the case for optimum approval |
| Speed | Weeks per lender | One submission, parallel responses |
| Sector knowledge | Depends on lender | Deep commercial marine expertise |
| FCA broker protections | Not applicable | Full FCA regulated broker (No. 814533) |
| Cost to you | No broker fee | Usually no upfront fee (lender-paid) |
| Rate outcome | One lender's best offer | Best rate from 14+ competing lenders |
Where a Broker Adds the Most Value
Specialist or Unusual Vessel Types
Mainstream lenders are comfortable with well-understood assets - standard fishing trawlers, ferry vessels, common workboat types. For specialist assets (aquaculture vessels, offshore survey craft, historic vessels with commercial coding, electric CTVs), the number of willing lenders narrows significantly. A broker who knows which lenders have specific appetite for specialist assets saves enormous time.
Declined Cases
If you have been declined by your bank or a lender, a specialist broker can often place the case by repackaging it for a lender whose criteria fit. Decline reasons that brokers regularly overcome: vessel age (specialist lenders go older), limited accounts history (sector-specific lenders take a more holistic view), LTV requirements (some lenders stretch to 80%), and credit history (second-chance specialist lenders exist in commercial marine).
Grant Co-Finance
Combining a government grant (UK Seafood Fund, CMDC) with commercial finance requires a lender who understands grant payment schedules, grant conditions on vessel use, and the documentation requirements. Not all commercial marine lenders have this knowledge. DBF identifies the right lender for grant co-finance cases every time.
Complex Structures
Combined vessel-and-quota finance, sale-and-leaseback of existing vessels, newbuild finance with stage payment structures, and multi-vessel fleet finance are all complex cases that benefit from broker expertise in structuring and lender presentation.
DBF's Credentials
- FCA authorised and regulated (No. 814533)
- Over 20 years of specialist finance experience
- Active commercial marine lender panel of 14+ institutions
- Whole-of-market: not tied to any single lender
- No upfront fees in most cases (lender-paid completion fee)
- Doulton Money Limited, 20 Wenlock Road, London N1 7GU