Marine lender signs deal with Vessel Vanguard

Publish date:
Updated on

Shore Premier Finance, a direct marine lending division of Shore Bank, announced a new partnership with marine maintenance management company Vessel Vanguard.

Effective immediately, all new Shore Premier Finance consumer loans on used boats will include Vessel Vanguard provisioning and a two-year subscription to the service.

The partnership is significant because Shore Premier Finance represents a different type of partner that Vessel Vanguard is bringing on board, chief marketing officer David Hensel said.

“We’ve got boatbuilder partners that have been significant, insurance partners that offer insurance to owners because they’re members,” Hensel told Trade Only Today. “Shore Premier Financial represents a new type of partner to us and adds validation to the value we provide. And the assets they’re financing are better maintained and maintain their value over time.”

"At Vessel Vanguard we constantly strive to provide our subscribers with exciting new benefits to enhance their membership while advancing our technology features to reflect the modern-day needs of boaters," Vessel Vanguard CEO Don Hyde said in a statement. "By partnering with industry leaders like SPF who recognize the unique qualities of a boat and the boater who is a member of our community, we are able to deliver value that extends well beyond that of our dynamic maintenance solution."

"As a marine lender, we want our borrowers to understand their boat's maintenance requirements in a way that is simple, straightforward and actionable, and Vessel Vanguard is the logical solution," Shore Premier Finance president Herve Bonnet said. "Since a well maintained boat adds significant strength to our loan collateral, we decided to go the extra mile and provide it to our customers."