NextBoat takes $2M loan at 15% to fund used-boat inventory
What's the deal? NextBoatDealroom has a profile for this one. Try Dealroom →, a US company listed on NYSE American as NXB, has taken a $2 million loan from RLLT Capital to finance pre-owned boat inventory.
The company disclosed the Master Loan Agreement in a Form 8-K filed with the Securities and Exchange Commission on June 22, 2026.
Terms are steep: 15% simple interest per year, plus 5% of gross profit on the sale of the boat. The loan matures in 180 days, on December 19, 2026.
Why now? NextBoat recently rebranded from Off The Hook YS Inc., signalling a strategic shift toward used-boat sales.
The short-term debt suggests an immediate push to build inventory and capture revenue, rather than wait for slower financing.
What could go wrong? The high rate and tight maturity put pressure on cash flow. NextBoat must sell quickly and profitably, or refinance within six months.
The profit-participation clause hands part of future earnings to the lender, diluting returns for shareholders.
As an emerging growth company, NextBoat faces lighter disclosure rules, leaving investors with less visibility.
The signal: Expensive, short-term debt tied to a single asset's profit is an unusual structure for an early-stage public company, and it underscores how a newly rebranded firm like NextBoat is leaning on costly private capital to fund its pivot into used-boat sales.
Read more: MiniChart
Image credit: Michel Curi
