Key Recreation Lending plans to grow its yacht financing biz

CLEVELAND – Key Recreation Lending (KRL), a division of Cleveland-based KeyBank NA, is expanding the management of its newly created yacht financing division with the addition of Frank Ramos as sales relationship manager and Doreen Kline as nationwide operations manager, the company reported in a recent statement. Both report directly to Jim Velez, who oversees the Yacht Financing division for KRL.

“We are expanding our team as part of our growth strategy in the yacht/megayacht financing sector,” said Vice President Jim Velez. “Both Frank and Doreen are highly experienced in the specialized area of yacht financing. Their industry knowledge and background will help us to fulfill our business growth strategy and provide the best experience for our yacht financing clients.”

In this new position, Ramos is responsible for building relationships with yacht owners, manufacturers, designers, dealers, and others specializing in the yacht industry. He will also work to help create and monitor products specific for the yachting market, including permanent, retail, dealer construction and bridge loans.

Ramos has over 18 years experience in the field of yacht financing. He spent the last 13 years as the area sales manager for First New England Financial. During this time he consistently ranked as a top producer in the Southeast U.S. and was the top producer nationwide in 2000 and 2001. Ramos has a bachelor’s of science degree in business administration from the University of Florida. He is currently a member of the Florida Yacht Brokers Association.

In her new position, Kline coordinates the preparation and closings for retail loans (foreign and domestic), construction loans and other highly specialized products. Kline has over 26 years of experience in the banking/marine finance industry. She previously worked in the operations area for both First New England Financial and Bank of America.

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