The inland waterway system moves more than 630 million tons of American commerce every year. The operators who run it need a capital partner who understands tonnage economics, lock schedules, and the financing decisions that determine fleet competitiveness for decades—not a bank that disappears when the freight cycle turns.
Expertise Matters.
“We had a looming balloon payment on our MSLP loan, tight debt service coverage, and a growth plan that needed capital now. Our primary bank couldn’t do it—single-customer concentration limits, conservative credit appetite, and they wanted blanket liens on everything. First National structured four separate transactions in parallel: a sale-leaseback that refinanced the MSLP, a CapEx line for new equipment, and two additional facilities—all without touching our existing banking relationships. That’s not a lender. That’s a capital architect.”
Capital That Flows Freely
Inland waterway operators, port terminals, and marine logistics companies live in a world their lenders don’t understand. Traditional banks see vessel collateral as illiquid, barge fleets as cyclical risk, and port terminal infrastructure as too complicated to underwrite. The result is capital that arrives late, at the wrong size, or not at all. We built a different model—one that starts with understanding how the river moves cargo, and ends with financing structures that match how your business actually works.
Beyond The Limits of Traditional Lending
The lenders who funded the last fleet expansion disappeared when the freight cycle turned. The banks that issued the term sheet during a strong quarter are now running DSCR screens that assume smooth sailing. Marine operators don’t get smooth sailing—they get lock delays, seasonal tonnage swings, Tier 4 retrofit timelines, and shipper consolidation. Your capital partner should be built for that reality.
Straightforward capital deployment for transaction sizes from $500,000 to $250,000,000+
Risk-based pricing yielding highly competitive rates for strong and challenged-credit scenarios.
Terms from 24 to 180 months depending on assets financed with amortizations up to 20 years or more.
Wider credit appetite born from balance sheet strength and extensive 3rd party institutional funding relationships
Non-dilutive, high capacity financing with no covenants and flexible collateral requirements
Full complement of operating lease, capital lease and loan structures, including sales-leaseback and refinance options.
Maring and Port Equipment Financed:
Specialized financing across every category of asset that inland operators, port terminals, and marine logistics companies depend on to move American commerce.
It All Begins With A Conversation
We listen. We live out-of-the-box. We solve problems. And we get deals done. Let’s do this.
