BankUnited’s Private Client Services Group is focused on providing a broad spectrum of client services. We repeatedly had requests from our clients for the financing of yachts, and so in the interest of delivering the full service experience we started doing Yacht Loans on a case by case, client by client basis.
In 2012 we were approached by a leader in the Yacht Lending industry about providing a source of funding for their clients. The numbers make sense. Most people in Yachting can easily afford to pay cash. However with interest rates still at extremely low rates, it makes good financial sense to borrow on a depreciating asset.
With a strong lending platform in Yachting we can attract the top quality clients that we look for and it provides us the opportunity to also serve their business needs. Our goal is to build strong client relationships and providing them with a yacht loan as the starting point is a great way to do that.
Lastly we out and hired an industry expert to lead this initiative for the bank and that is Melanie.
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