Close Brothers Marine Business Finance - Rate Table (October 2026)
| Term | Rate from (APR) | Max LTV | Min Loan | Notes |
|---|---|---|---|---|
| Up to 5 years | 5.9% | 80% | £25,000 | Best available rate band |
| 5–10 years | 6.4% | 80% | £25,000 | Mid-term pricing |
| 10–7 years | 6.9% | 75% | £25,000 | Longer-term pricing |
| Rate ceiling | 9.5% | 70% | £25,000 | Higher-risk / adverse credit |
Close Brothers is the UK's leading institutional lender for marine business asset finance. Rates are indicative and subject to lender credit assessment, vessel survey and final underwriting. October 2026.
About Close Brothers Marine Business Finance
Close Brothers Asset Finance has the largest dedicated marine business lending operation of any institutional lender in the UK. Their marine business finance product covers asset finance for boat yards, marinas, chandleries, marine engineering businesses, charter operators and boat sales dealerships - essentially any business whose assets are marine-related. This includes engines, cranes, travel hoists, trailers, workboats, tender fleets and fixed marina infrastructure such as pontoons and berthing systems.
Rates start at 5.9% APR for strong businesses with clean credit histories and clear asset identification, with terms up to 7 years and LTV of up to 80% of the asset's value. The minimum advance is £25,000, positioning this as a product for established businesses making meaningful asset investments rather than micro-businesses acquiring single items under £10,000.
Close Brothers' strength in this market is the depth of their marine sector knowledge. Their underwriters understand depreciation curves for marine assets, the seasonal cashflow patterns of charter and boat yard businesses, and the specific risks associated with coastal and tidal environments. This sector knowledge means they are more likely to approve genuinely good applications than a generalist lender reviewing the same case. For marine businesses with strong accounts and clear asset identification, Close Brothers should be the first lender Doulton Bridging Finance approaches.
Strengths
- Lowest institutional rate from 5.9% APR
- Deep marine sector underwriting expertise
- 80% LTV for qualifying assets
- Covers wide range of marine business assets including infrastructure
- Fast credit decisions for pre-packaged broker submissions
- Up to 7-year terms
Limitations to note
- £25,000 minimum advance excludes smaller businesses
- Strict financial accounts requirements (typically 2+ years)
- Less flexible on adverse credit than specialist lenders
- 7-year maximum term shorter than property-based alternatives
- Asset must be identifiable and survey-able