Promarine Finance hires a new Business Development Manager

Promarine bolsters team as part of its development programme with ex-Olympian.

Leading marine finance lender, Promarine Finance has appointed a new Business Development manager, Steve Bent following a period of substantial growth.

Steve’s appointment is part of an on-going development programme that will see the company continue to expand over the next 12 months.

In 1984, Steve represented Great Britain in track cycling at the LA Olympics. His passion for cycling has continued throughout his career and he has spent the last 30 years owning and operating his own cycling organisations.

Steve will be responsible for the overall business growth strategy and execution. He will also support the sales team with lead acquisition and processing.

Steve’s wealth of experience adds continued value to Promarine Finance

Stuart Austin, Director of Promarine Finance, comments: “We have just had our busiest Q1 to date with a substantial 71% increase in the number of deals made, compared to the same period in 2020. We are keen to build on our success and Steve’s appointment will further enhance our growth for the remainder of the year and beyond. Steve comes with a wealth of business development experience including business acquisitions, mergers and spearheading lead generation strategies.”

Steve comments: “My career spans business ownership and development roles. This newly created role will benefit from my existing skill sets and present new challenges. I am pleased to be joining the dynamic team at Promarine Finance and sister company, Prolease.”

Promarine Finance Q1 deals up 71%

Leading marine finance lender, Promarine Finance has seen a 71% increase in the number of finance deals in Q1 2021 vs 2020.

Promarine Finance offers fixed and variable rate marine mortgages for new and used RIBs, motorboats, sailing yachts and canal boats over periods of two to 15 years.

The biggest demand has been driven by motorboat finance during this time. Promarine has seen a substantial 180% increase in the number of motorboat mortgages in Q1 2021, a 150% year-on-year increase in finance deals for RIBs for the same period compared to 2020 and a 30% increase in the number of canal boat finance deals.

Stuart Austin, Director of Promarine Finance, comments: “Our Q1 performance this year has been our strongest to-date. We’ve noticed a surge in demand for boat finance, particularly for motorboats and RIBs. This highlights the growth in leisure boating in the UK and indicates that boat ownership is very strong.”

“With ongoing uncertainty about overseas travel and the requirement for vaccination passports, and ‘green zones’, more people are opting for guaranteed leisure time through boat ownership. We initially thought this to be pent-up demand, but it has become apparent that the industry is welcoming new entrants to the market. They are more decisive in their purchase; we believe they are not just here for the short-term but see leisure boating as a safe, unrestricted option.”

Promarine Finance sees spike in canal boat finance deals following Boris’ speech

Leading marine finance lender, Promarine Finance has seen a staggering 300% year-on-year increase in the number of canal boat finance deals in February 2021 and 56% growth in terms of the loan amount for the same period.

Promarine believes this growth can be attributed to a growing demand for people looking to change lifestyle and living arrangements following stringent lockdown measures.

Promarine Finance offers fixed and variable rate marine mortgages for new and used RIBs, motorboats, sailing yachts and canal boats over periods of a few months to 10 years. Canal boat finance has remained consistently strong since 2019 as Promarine has been the only lender financing liveaboards since March 2020. 

Stuart Austin, Director of Promarine Finance, comments: “Since Boris’ speech we have received a surge in demand for canal boat finance compared to the same period in 2020. Our enquiries have also seen a 130% year on year increase, a very positive indicator for a shift in the market.

“This highlights the growth in canal boating in the UK and indicates that boat ownership is still popular in the current climate. As a result of COVID-19, we know more people are opting to holiday in the UK and spend their leisure time on the water – a trend that began in 2020 and will continue through 2021. Conversations with new customers have highlighted a wave of COVID-fatigue and people wanting to realise their aspirations of boat buying without any further delay including many opting to switch from living on land, to living on the water.”

Promarine Finance will be attending the upcoming Crick Virtual Boat show from 24-28th March and welcomes attendees to join them for 1-2-1s over the weekend, providing a great opportunity to discuss finance and options.

No need to wait to sell your boat before buying your next – the benefits of bridging finance

The Promarine Finance team have recently been working with a valued customer who wanted to achieve his dream, by changing his boat to move from inland canals to touring the British coastline. The customer had spotted his ideal boat, but needed to sell his existing boat first – or so he thought.

To help customers in similar situations, we have come up with a solution to provide short term marine finance – ‘Bridging Finance’ for boats that are interest only.

We gave our customer a loan for their new boat and a separate bridging loan secured on both boats – with the view to settle once his existing boat sells.

This allowed him to get the boat of his dreams and win it against a cash buyer because of the bridging facility.

Have you negotiated a spectacularly good deal for a boat that you just cannot walk away from, but are still waiting to sell your current boat?

You don’t need to lose the boat!

Speak to our team – we can agree a monthly interest payment for a set term and the full amount is repaid once your funds are available. If the term needs to extend, then the deal rolls forward for a set period.

Our delighted customer is now planning for his tour of the British coastline and we were really pleased to help.

Promarine Exclusive Crick Boat Show offer: Free professional narrowboat handling course for Promarine customers

We have teamed up with the Narrowboat Skills Centre to offer an exclusive Crick Boat Show deal for this year’s upcoming event.

At Promarine, we know how important it is to have full confidence when at the helm of your own boat, particularly if you are new to boating. 

We will be offering a voucher for one person to undertake a Helmsmans Course (normally priced at £360pp) or Diesel Engine and Boat Maintenance course (priced at £220pp) for all finance applications received during the show (24th-28th March) and who go on to complete a finance contract with us before June 30th 2021. 

Exclusive course offer

To be with a chance of winning a professional Narrowboat handling course

Apply now

The Helmsmans Course

The RYA Inland Waterways Helmsmans Course is for those new to boating or those boaters who feel that they need to brush up on their Helmsmans skills. The Helmsman’s course follows the RYA syllabus and participants are awarded an Inland Waterways Helmsman’s Certificate upon successful completion.

The course includes:

  1. Boating Safety
  2. Pre-start checks
  3. Ropework and knots
  4. Boat control
  5. Getting underway
  6. Slowing down, stopping and mooring up
  7. Locks and using them safely
  8. Navigating bridges and tunnels

It is a highly practical course with the majority of the day spent out on the water or on the bank mooring up or on working locks.

The Diesel Engine and Boat maintenance Course

This two-day engine and boat maintenance course incorporates the RYA Diesel Engine course and expands it to cover all the essential maintenance tasks that can be completed by the average boater without the use of specialist tools. The result is that you will be able to keep your boat in good order and in the long run save money.

As well as the routine maintenance tasks the course covers simple fault finding on your engine, drive train and electrics.

Own Boat Experience Day

For those who want a course run on their own boat and who do not require a Helmsmans Certificate we will arrange for a fully qualified instructor to spend a day on your own boat at your location with up to three people. The course will cover as much of the two day Helmsmans syllabus as is possible given the constraints on time and the limitations of the cruising area. Instructor travel costs and overnight accommodation costs will be the responsibility of the customer. Customers can agree upgrades to the courses by negotiation with NBSC.

Offer T&Cs

One Voucher for one person to complete a Helmsman Course or Diesel Engine or other course of similar value, per marine mortgage.

Travel and accommodation costs are at our customers’ expense.

Open to UK residents over the age of 18. No cash alternative. One voucher is available to one sole customer only. Promarine’s decision is final. Promarine reserves the right to withdraw the offer at any time. 

Applicants must submit a finance application during 24th-28th March 2021 and complete a finance contract with Promarine Finance before 30th June 2021.

The offer is in partnership with NSBC and subject to instructor availability and their own conditions listed on https://nbsc.org.uk/terms-and-conditions.