Key Recreation Lending appoints new yacht lending manager

Key Recreation Lending (KRL), a division of Cleveland-based KeyBank NA, has hired Michael Scallin as sales relationship manager for its Luxury Yacht Lending division. Scallin reports to Jim Velez, manager of KRL’s Luxury Yacht Lending.

Scallin is responsible for building relationships with manufacturers, brokers, designers, dealers and owners in the Northeast and New England area, as well as select Florida accounts. He specializes in products specifically for the yachting market, including permanent, retail, construction and bridge loans.

“Michael is a highly experienced yacht financing professional. His wealth of industry knowledge and specialized background will help us provide the best individualized experience for our clients,” said Velez.

Scallin has more than 14 years of experience in the marine industry. Most recently he was a vice president in Private Banking/Marine Lending at Comerica Bank in Fort Lauderdale, Florida. Prior to that he was the South Florida area sales manager for First New England Financial. Before moving to Florida, Scallin was based in the New England area where he held yacht financing positions of increasing responsibility.

Scallin is based at KeyBank’s Luxury Yacht Lending headquarters on “megayacht row” at The Portside Yachting Center in Fort Lauderdale, Florida. He is a member of the Florida Yacht Brokers Association, the Yacht Architect & Brokers Association and the National Marine Bankers Association.

About KRL Luxury Yacht Lending
Key Recreation Lending's Luxury Yacht Lending, a division of KeyBank NA, offers yacht financing solutions up to $100 million. Luxury Yacht Lending offers a full array of specialized products and services, including yacht construction, international letters of credit, foreign flag registration and interest-only loans for the large yacht/megayacht sector. Related divisions offer yacht floor plan, aircraft financing, equipment leasing, real estate financing and wealth management services. For more information, visit www.key.com/yacht or call 1-800-971-6795.

About Key Recreation Lending
Key Recreation Lending, a division of KeyBank NA, is a leading marine and recreation lender with over 50 years of experience. Key provides retail financing programs and commercial lending products to dealers nationwide, including floor plan, real estate and equipment financing; working capital loans; acquisition facilities; manufacturer programs; and treasury management services. For more information, visit www.key.com/marinedealer or call 1-800-971-6795.

About KeyCorp
Cleveland-based KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

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