Boat dealer financing with an SBA loan
Boat Dealers · NAICS 441222 · Program that usually fits: 7(a) or 504
Boat dealer financing through the SBA works the same way it does for RV and car dealers: the SBA finances the dealership, the marina slips, the service shop and the purchase of an existing dealer, but not the boats on the lot. A separate floor-plan line covers inventory, and lenders want it committed before they close.
Who qualifies
Operators buying an existing dealership, dealers buying their waterfront property, and marine service businesses adding storage or a service yard. Lenders ask for manufacturer agreements, a floor-plan commitment, and three years of financials from any seller. Seasonality is expected; lenders underwrite to a full-year cash flow.
Which SBA program fits
504 for waterfront real estate
Finances the lot, showroom, docks and service building at a fixed rate with 10% down.
7(a) for buying a dealership
Covers goodwill, parts inventory, equipment and working capital, up to $5 million.
7(a) for storage and service
Adding dry-stack storage, lifts or a rigging shop fits a 10-year loan.
What borrowers use the money for
- Buying the dealership and marina real estate
- Buying an existing boat dealer
- Service bays, lifts and rigging equipment
- Dry-stack or rack storage buildings
- Parts inventory and working capital
Typical loan amounts, down payment and terms
Real-estate projects run $1 million to $5 million; dealership purchases $500,000 to $3 million. Equity is 10% to 15% on a 504 and 10% to 20% on a 7(a). Boat inventory is excluded from SBA loans, so a floor-plan line is part of every structure.
Example: a $1,200,000 loan
At today's maximum variable 7(a) rate of 10.00% over 25 years, the payment would be about $10,904 a month. Most well-qualified borrowers get a lower rate. On a 504 project, the SBA-backed 40% would be fixed at 6.57% (November 2026, 25-year). Try your own numbers.
Free · takes 1 minute · no credit check
Get matched with an SBA lender
Answer four questions and see SBA lenders that fit your state, loan size and industry, with your maximum rate. Compare at least two quotes before you sign. Rates move monthly: check current SBA loan rates and the 504 rate.
Today's rate caps
These are the SBA's maximum 7(a) rates with prime at 7.00%. See current SBA 7(a) rates and SBA 504 rates for the full picture.
| Loan amount | Maximum spread | Maximum variable rate today |
|---|---|---|
| $50,000 or less | Prime + 6.5 | 13.50% |
| $50,001 to $250,000 | Prime + 6.0 | 13.00% |
| $250,001 to $350,000 | Prime + 4.5 | 11.50% |
| Over $350,000 | Prime + 3.0 | 10.00% |
Related industries and lenders
Related industries
SBA lenders active nationwide
Questions about boat dealer financings
Can a boat dealer get an SBA loan?
Yes, for the real estate, the business purchase, service equipment and working capital. The SBA doesn't finance boat inventory, so the dealer also needs a floor-plan line from a bank or manufacturer finance company.
Does the SBA finance floor plans for boat dealers?
No. Inventory floor plans are excluded from 7(a) and 504 loans. The lender will review your floor-plan terms to confirm the dealership's cash flow covers both loans.
What down payment does boat dealer financing need?
10% for a 504 real-estate project, 15% for a start-up, and 10% to 20% for a 7(a) purchase. Waterfront land you already own can count as equity.
What is the term on a marine dealership SBA loan?
25 years for real estate on a 504 or a real-estate-heavy 7(a). Dealership purchases and equipment run 10 years.
What rate will a boat dealer pay?
The 504 SBA portion priced at 6.57% fixed for 25 years in November 2026. A 7(a) loan over $350,000 is capped at prime plus 3, or 10.00% today.
Sources: SBA 7(a) terms, conditions and maximum variable rates; Federal Reserve H.15 selected interest rates (bank prime loan rate); November 2026 SBA 504 debenture pricing, as published by CDCs; SBA FOIA 7(a) and 504 loan-level data.