Promarine Finance

What Promarine Finance does

Promarine Finance is a UK-based specialist marine finance lender, established in 2010 and headquartered in Crediton, Devon. The company provides secured boat mortgages to individual buyers, liveaboards, commercial marine operators and boat dealers across the United Kingdom, lending from £10,000 up to multi-million-pound amounts over 2- to 15-year terms at fixed or variable rates. It positions itself as a direct lender rather than a broker, accepting non-standard cases — including older boats and vessels without residential mooring — that mainstream lenders typically decline.

Its core product set spans marine mortgages, refinancing, bridging finance, stage payments for new builds, and commercial boat finance, supplemented by an online boat finance calculator that delivers instant indicative quotes and a referral-based boat insurance offering. The technology stack is conventional SME infrastructure: a WordPress/WooCommerce website, a rule-based online calculator, and a Salesforce-powered customer experience platform for pipeline management. Underwriting and credit decisions are made in-house by a team of boating enthusiasts with sailing qualifications, with no disclosed automated or model-driven decisioning.

The business model is that of a specialist direct lender. Revenue is generated from net interest income on its marine mortgage book, loan arrangement and administration fees, and commissions from partner boat insurance providers. Distribution is built through relationships with boat brokers and dealers, attendance at multiple UK boat shows (Southampton, Crick, London), content marketing via a boat buyer's guide, and direct inbound applications processed through its website. In 2024 the company secured a £30 million revolving credit facility from Secure Trust Bank Commercial Finance to expand lending capacity, alongside product diversification and the hiring of multiple new business managers.

Name

Promarine Finance

Legal name

Promarine Finance Limited

Website

https://www.marine-finance.org

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1–10 employees

Short description

Promarine Finance is a UK specialist marine finance lender providing secured boat mortgages from £10,000 to multi-millions over 2- to 15-year terms to individual buyers, liveaboards, commercial operators and boat dealers, operating as an FCA-authorised direct lender since 2010.

Ownership category

akta.pro rank

Product category

Specialty / Marine Lending

NAICS

Nondepository Credit Intermediation (5222), Sales Financing (52222)

SIC

Mortgage Bankers & Loan Correspondents (6162), Finance Lessors (6172)

akta.pro primary industry

Marine & Boat Finance (FSAKADAH)

Keywords

• Marine finance
• Boat loans
• Marine mortgages
• Boat refinancing
• Narrowboat finance

Headquarters

HQ city

Hereford

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Marine Mortgage Interest Income: Interest income from secured marine mortgages loaned to customers purchasing boats. Promarine Finance is a direct lender. Revenue is generated through interest charged on loans, with fixed or variable rates offered over 2 to 15 year terms.
2. Loan Arrangement Fees: An upfront fee is charged as part of the total cost of credit, disclosed in the representative finance example. Fee structure varies by loan amount and term.
3. Boat Insurance Referrals: Promarine Finance offers boat insurance products through partner providers, generating referral income from insurance arrangements tied to financed vessels.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Promarine Finance is a UK direct (non-broker) marine finance lender that provides secured loans against boats and other vessels for individual and commercial buyers, typically ranging from £10,000 to several million pounds over 2-15 year terms at fixed or variable interest rates. The company underwrites in-house, offers refinancing and bridging options, and operates as an FCA-authorized specialist lender (FRN 810007) serving boat buyers across the UK.

Product overview

Promarine Finance offers a unified marine finance platform centered on its Marine Mortgages product, which provides secured loans for boat purchases ranging from £10,000 to multiple millions over 2-15 year terms. The core customer journey begins with the Boat Finance Calculator for instant quotes, followed by a streamlined 24-hour approval process. Additional financing products include Stage Payments for new boat builds, Refinancing for existing vessels, Bridging Finance for sequential boat purchases, and Commercial Boat Finance for business customers. The company also facilitates Boat Insurance through partner relationships, creating a comprehensive boat purchase ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine Mortgage (Boat Loan)

Quantifiable outcome

• Credit decision within 24 hours — confirmed in multiple customer testimonials and company communications.
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor.

• Boat Insurance PartnersminorOthers · 1 January 2024Promarine Finance announced new boat insurance partners in 2024, offering customers access to marine insurance products as part of the boat purchase process. The specific insurance partner names are not individually disclosed in available sources.
• British MarineminorOthersPromarine Finance is a proud member of British Marine, the trade association for the UK marine industry. Membership provides industry networking, representation, and credibility.
• Consumer Credit Trade Association (CCTA)minorOthersPromarine Finance is a member of the Consumer Credit Trade Association, demonstrating commitment to industry standards and compliance in consumer credit.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Charles Street Solutions: UK-based specialist marine finance broker focused on securing boat loans for consumers. Highly comparable as a specialist peer competing for the same marine finance customer segment in the UK market, though operates as a broker rather than a direct lender.
• Whitehaven Boat Finance: UK-based boat dealership group that offers in-house marine finance alongside its sales operations. Comparable because it provides directly competing marine finance products to boat buyers in the UK, though integrated with a dealership model.
• Essex Marine Finance: UK-based specialist marine finance provider offering boat loans and mortgages to UK consumers. Comparable as a niche UK marine finance peer targeting the same boating customer base, though specific scale and product details are limited.
• Just Marine Finance: UK-based specialist marine finance broker arranging boat loans for consumers. Comparable as a UK marine finance peer competing for the same boat buyer customer base, though it operates as a broker rather than as a direct lender.

Broad incumbents

• Lombard (NatWest Group): One of the UK's largest asset finance providers, owned by NatWest Group, offering marine and leisure asset finance as part of a broader portfolio. Comparable as a major incumbent funding marine and boat finance, though it operates across many asset classes rather than specialising in marine.
• Close Brothers Asset Finance: UK specialist bank division offering asset finance including marine finance propositions. Comparable as a UK-licensed lender competing in marine and leisure asset finance, though it operates across a much broader asset finance portfolio.
• Aldermore Bank: UK specialist challenger bank providing asset finance, invoice finance, and specialist lending including marine-related products. Comparable as a UK-based specialist lender with adjacent asset finance capabilities, though not exclusively focused on marine.
• Barclays Marine Finance: Marine finance offering from a major UK high-street bank serving boat buyers with secured lending. Comparable as a mainstream lender that Promarine competes against for marine mortgage customers, though it serves a much broader product portfolio.

Others

• Secure Trust Bank Commercial Finance: UK commercial finance provider that supplied Promarine's £30M revolving facility. Comparable as a wholesale funder active in the marine and consumer credit finance space, though it operates as a capital provider rather than a direct competitor for end-customer boat loans.
• British Marine: UK marine industry trade association of which Promarine is a member. Comparable as the broader industry ecosystem participant that connects Promarine to dealers, manufacturers, and customer pipelines, rather than as a direct lending competitor.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/promarinefinance
• Facebookfacebook.com/promarinefinance
• LinkedInlinkedin.com/company/promarinefinance
• YouTubeyoutube.com/channel/promarine-finance
• Xx.com/promarineinfo

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Promarine Finance