Answer from Randy: You can make a boat loan to anyone that you want to. I'm not sure how making a loan secured by a specific type of collateral represents a fair lending issue?
Answer from Andy: A better Q&A is can you violate fair lending laws with this type of loan (or any other) and the answer is still yes. It is a matter of whose signatures are required for the loan and the rates and terms based on comparable transactions. If you have a woman-owned business and you require a personal signature as well as a cosigner or additional collateral, which wasn't required for a male-owned similar business, you'd potentially have issues.
First published on BankersOnline.com 2/27/12