Minimal documentation boat loans are similar to traditional boat loans, except the amount of documentation needed for approval is much fewer. When talking about low doc and no doc boat loans, “doc” is shorthand for documentation, and the distinction between “low doc” and “no doc” is the amount of paperwork that is required by lenders. 

In commercial lending, “docs” refers to a range of financial records, including tax returns, annual accounts, BAS returns, details of assets and liabilities, turnover figures, bank statements, and cash flow reports. Typically businesses who have been operating for less than a year, and therefore do not have access to these documents, will qualify for no documentation boat finance. 

Low documentation and no documentation boat finance are not credit facilities, but rather describe the applicant’s documentation situation. These minimal documentation application options are also available for businesses that don’t meet certain lender criteria, such as minimum trading history or turnover.

To secure funds quickly and easily for the vessel your business needs, explore our low doc, no doc boat loan options via an initial, no-obligation consultation with one of our skilled marine brokers.