Industries
Sectors where collateral and operations can be underwritten.
We are a specialist house, not a general-purpose bank. The industries below are those in which we expect to spend most of our time. Adjacent files are considered when the collateral thesis is clear.
Ocean shipping
Owners and operators of dry bulk, tanker, container, and multipurpose tonnage. Facilities are typically vessel-backed, with employment and insurance as co-equal underwriting pillars.
Inland and coastal marine
Tugs, barges, workboats, and other brown-water assets serving U.S. rivers, coasts, and harbors. Jones Act and documentation issues are addressed at the outset, not at closing.
Ports, terminals, and marine services
Selected operators with contracted revenue, equipment, and receivables—stevedoring, agency, bunkering, ship repair, and related services—usually through ABL or hybrid structures rather than a single-asset mortgage.
Logistics and freight
Asset-backed working capital for companies that move goods and bill counterparties on defined terms.
Import, distribution, and wholesale
Classic ABL borrowers: inventory turns, trade receivables, and a need for a line that flexes with the season.
Light and middle-market manufacturing
Borrowers converting materials into finished goods, with eligible inventory and receivables that can be examined and appraised.
Energy-adjacent marine (selective)
Offshore support and specialized marine equipment only where residual value, employment, and counterparties can be independently confirmed. Exploration drilling and highly cyclical construction-at-risk books are not a core offering.
Industries we do not target
Consumer finance, cannabis, early-stage venture companies without hard collateral, pure real-estate development (unless incidental to an operating ABL borrower), and any activity that fails our compliance screen.