Marine Lending Insights from TrawlerFest Anacortes 2025

By Kieran Conaty, Marine Finance Representative, Sterling Associates

TrawlerFest Anacortes 2025 was a fantastic experience—both professionally and personally. Held from May 15–17 as part of the Anacortes Boat & Yacht Show, this year’s event brought together passionate boaters, seasoned professionals, and aspiring trawler owners from all over the country. I was excited to represent Sterling Associates and connect with attendees— both at our booth and during the “Trawler Buying Tips” seminar, where I served as one of the guest speakers.

This was my first time presenting at TrawlerFest in my new role with Sterling Associates, but not my first time in Anacortes. I’ve worked in the marine industry for more than 25 years—including many years with PassageMaker magazine, where I helped organize TrawlerFests across the country. Anacortes was always my favorite stop, so it was particularly meaningful to return to the Pacific Northwest—this time on the other side of the table—to help boaters understand the ins and outs of financing.

The “Trawler Buying Tips” seminar was moderated by the wonderful Jeff Merrill of Jeff Merrill Yacht Sales, and featured an impressive lineup of marine experts. My job was to walk attendees through the financing side of the boat buying process: how boat loans work, what banks are looking for, how to qualify, and why working with a dedicated marine finance rep can make all the difference.

Here are a few key points I shared during the presentation:

1. Marine Finance Service Companies & The Role of a Marine Finance Rep

At Sterling Associates, we operate like a mortgage broker—but for boats. We work with more than 22 lenders, including national banks, regional lenders, and credit unions, each with its own lending niche and geographic footprint. Our role is to match buyers with the lender best suited to their particular situation.

As your point of contact throughout the process, we act as a bridge between you and the bank—guiding your application, helping gather required documents, and coordinating with brokers and other marine reps.  Our goal is to keep everything moving smoothly from application to closing.

2. Not All Banks Are Created Equal

Local banks are great for mortgages or car loans, but many of them don’t understand trawlers or long-range cruisers. Marine lenders, on the other hand, are familiar with documentation, survey requirements, and collateral risks unique to boats. That’s why it’s important to consider working with someone in the marine space—especially when dealing with older vessels or high-value cruisers.

3. Survey Values and Loan Amounts

When you finance a boat, the lender uses the vessel itself as collateral for the loan. Banks require a SAMS or NAMS marine survey to confirm the boat’s value and condition before funding the deal. Most banks will finance 80–85% of the purchase price or the survey value—whichever is lower. This ensures the bank isn’t lending more than the asset is realistically worth, which helps protect both the lender and the buyer.

Why TrawlerFest Matters

TrawlerFest isn’t just a boat show—it’s a gathering of serious cruisers, future trawler owners, and marine professionals who genuinely want to help boaters succeed. The seminar series is one of the best educational resources available to buyers. Whether you’re new to cruising or upgrading from your current vessel, the expert panels provide invaluable information that you often can’t get elsewhere.

If you’re considering purchasing a trawler or long-range cruiser in the future, I highly recommend attending a future TrawlerFest event. It’s the perfect opportunity to meet brokers, lenders, and other industry experts in person—and to ask questions specific to your situation.

Here are the upcoming shows:

• TrawlerFest Baltimore – September 23–27, 2025
• TrawlerFest Fort Lauderdale – March 2026
• TrawlerFest Anacortes – May 2026 (part of the Anacortes Boat Show)

Final Thoughts

A big thank you to the TrawlerFest and Anacortes Boat Show team for the opportunity to be part of such a well-organized event.  Anacortes remains a special place, and the passion of Pacific Northwest boaters never disappoints.

Whether you’re just beginning your search or already deep into the buying process, the right financial strategy can make all the difference in turning your cruising plans into reality.

If you’re exploring financing options, I’d be happy to walk through available loan programs, help you get pre-approved, and take the next step toward owning the boat that’s right for you.

Kieran Conaty
Sterling Associates
Kieran.Conaty@unibank.com 
Cell: 443-534-4777