The USCG Forms You May Need for Vessel Financing

Are you looking to get financing for your vessel? Do you love having a vessel, and you’ve come to realize that it would be easier to make everything add up if you had a Preferred Ship’s Mortgage? For decades, vessel documentation has made it easier to own and operate a vessel on your terms. Here at the Maritime Documentation Center, we’ve helped so many vessel owners just like you to get all of the USCG forms completed and sent in quickly and completely. 

The First Step: Initial Documentation

As you might have guessed from the name, “initial” documentation is where it all starts. Specifically, that’s where vessel financing starts. If you want to get a Preferred Ship’s Mortgage, your vessel has to be documented. This isn’t a new rule, either. In fact, vessel financing has been enhanced through the availability of preferred mortgages on documented vessels since 1920. So, documentation has made it easier to get a mortgage for over a century at this point. 

Preferred Ship’s Mortgage 

This is the form that helps you stay in compliance with the authorities as you seek financing on your vessel. It’s important to note that here at the Maritime Documentation Center, we make it easier and simpler to send your forms in to the authorities. It’s not our place to walk you through the mortgage process, all of that. We supply the forms. But, what we can tell you is that you may be able to file this form earlier than you think. For example, to get a mortgage accepted for filing, the vessel must have “a valid certificate of documentation or an application for initial, exchange, or replacement, CG-1258 on file at the NVDC.” So, you don’t have to wait for it to get back to you, rather, that you’ve sent it in and it’s on file. That can speed up the process just a bit. 

Satisfaction/Release of Mortgage/Lien 

There are many great days when you own a vessel. The first time you take it out. If you’re using it in a commercial capacity, the first time you make money with it. Later on, when you break your earnings record. Really, when you own a vessel, there are too many good days to count. One of the best, however, is when you pay that mortgage off. When that happens, you can use the form at our site to be in compliance with the powers that be. 

All the USCG Forms You’ll Ever Need in One Place 

Those are just some of the forms that you may need through the course of owning a vessel. For example, if you want to keep your Certificate of Documentation, you have to renew it every year. You can do that through our site. Additionally, you can also actually decide to renew it for several years in advance through our site, too. If you have any questions about any of this, you can call our staff at (800) 535-8570.