Frequently asked questions:

Q: How do I start or get more information?

A: Simply call (888) 392-2485 and ask for Jamie Torrealba or any of the brokers listed on "The Team" web page. You can also put your name and number by clicking on the "Submit a Question" link on the left side and one of us will call you back.

Q: I already have an account as an eYachtLoans broker, now how do I start submitting loans?

A: Submitting loans is a breeze! Once your account is activated you will be able to log into the broker management system and submit deals online or simply fax your applications to (954) 847-1547.

Q: How will I know the status of a deal once I submit the application online?

A: Once you submit a loan application online, a loan officer will review the deal immediately and will contact you with any comments or questions. You can also use the broker management system to check the status of your deal. You will also receive emails along the process.

Q: How long does it take to get a loan approved?

A: The size of the application does play a role in how long underwriting will take. A good rule of thumb is that smaller deals (up to 100K) can be approved through our instant approval program (if qualified) or through standard underwriting and this can take up to 2 hours. For larger deals (100K+) standard underwriting is necessary and this will require that full proof of income is provided in order to gain approval. Once full proof of income is received, underwriting can take 2 hours to 2 days depending on how qualified the customer is.

Q: How long does it take to close and fund a loan?

A: eYachtLoans understands the urgency often associated with loan closing and delivery. In order to provide a fast and efficient closing, it is vital that all paperwork necessary to contract and fund is submitted in a timely and complete fashion. Once all necessary paperwork has been received by eYachtLoans, it will take 2-5 days for contracting and funding. Special circumstances like shell companies, offshore closings, charter vessels and unsatisfied lien issues can cause slight delays.

Q: What banks does eYachtLoans use?

A: We have access to the nations top lending institutions include Bank of America, Key Bank, Wachovia and many others. This is a great advantage when you can offer your customer every loan option available on the market today.

Q: Can eYachtLoans place special types of loans like jumbo yacht loans, charter vessels, high-performance and live a boards?

A: The answer is yes! Our lenders will consider these special types of collateral for qualified customers.

Q: Why should I use eYachtLoans instead of my current lending sources?

A: Customers demand fast and efficient service today more than ever! First, there is simply not a faster way to get answers on your deals than with our professionals and management system. Second, the broker management system takes all the stress away from following up on the status of your deals. Third, you can make more participation than with most service companies in the industry. Finally, legendary customer service is not just a term we talk about. It is our standard!

Q: What participation is available to me?

A: You can make up to 25% participation in reserve. Your account representative will help you to become familiar with our rates and participation levels. Unfortunately, all states do not allow for participation. Please contact us with any questions.

Q: How long does it take for me to get paid?

A: All commissions are paid in the first week following the month of a closed loan. Larger brokers may be paid as the funding occurs depending on the amount of business closed.

Q: I have a website that a lot of my customers utilize. Can I put a link and banner to eYachtLoans to help direct applications to you?

A: Yes! This is also one of the easiest ways to not only have your customers apply but also those who are just surfing on your website in which case you will make money even if they don’t buy a boat from you!

Q: I participate in boat shows throughout the year. Will you have representatives available to support boat show business?

A: Yes, eYachtLoans also attends many of the major boat shows across the country. Even if we are not at a particular show in your area you may still submit deals and get immediate answers through our professionals during boat show times and our automated system 24 hours a day.