Page 20: of Marine News Magazine (November 2017)

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COLUMN FINANCE

Providing Proper Preparation Also Propels

Financial Peace of Mind

Like marine coatings, preparation is everything when it comes to sourcing and attracting marine ? nance support.

By John Benoit

If you’re familiar with the maritime know this to be true. industry at all, this won’t come as a If we’re being honest, this industry can be a scary place shock: we’ve seen better days. Like many not just for those who work in the industry, but also for industries, this is one that goes up and lenders to this industry. Financing sources have experi- down and, right now – depending of enced losses on deals booked and tougher regulations course on sector your focus resides – make maritime lending a risky game to play. But, it’s not we’re pretty far down. an impossible game, especially when borrowers can do the

This severe downturn began in late leg work to show they are a reliable candidate. 2014 and we’ve seen many