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Nationwide Yacht, Boat and RV Loans

Corporate Headquarters
1 Melvin Avenue
Annapolis, MD 21401


Meet Our Nationwide Sales Team

See a sales manager in your area? Contact them directly to receive quick assistance!



Karen Trostle
Annapolis, MD

410.268.1545 / 800.525.0554

Karen has been a Maryland local her whole life, being raised on the shores of the Chesapeake Bay. She has been fortunate enough to enjoy the boating lifestyle from a young age and continues to be an avid boater.

Karen began working at Maryland National in 1973 and eventually worked her way up the corporate ladder to become Vice President in charge of the Marine lending sales division.  She has a degree from the University of Virginia’s Graduate School of Retail bank Management.
In 1987, Karen decided to branch out and start a marine loan origination company, Sterling Acceptance Corporation. Celebrating more than 26 years in business, Sterling Acceptance has 3 loan production offices around the country.

Karen Trostle is the current Past President of the National Marine Bankers Association; serving as President from 2010 to 2012, and has been on the Board of Directors since 2005. She boasts 40 plus years of marine direct, indirect, and floor plan banking experience. Aside from volunteering for many charities and non-profit organizations, Karen enjoys biking, health and fitness, and spending time on the boat with her husband and dogs. 

Dave Trostle
Annapolis, MD

410.268.1545 / 800.525.0554

Dave’s interest in boating started when he was 12 years old, when his parents bought their wooden 27’ Chris Craft. He learned to navigate the Chesapeake Bay with nothing more than a paper chart, a set of parallel rulers and a compass. In the mid 80’s career opportunities brought him to the Washington DC area in the home entertainment industry. While working, he was approached with an opportunity to be the new sales manager at an Annapolis, MD yacht dealership. He took the opportunity to get in on the ground floor and build a business, which it certainly turned out to be. He obtained the Trojan Yacht franchise, which was on a strong growth path. Their International Series yachts set the standard for the euro style vessels which are so common today. Within a few years they had become the second largest dealer in the country and he was awarded salesperson of the year twice during that time.

The opportunity to come to Sterling Acceptance Corporation came along in the 90’s and was a perfect blend of utilizing his business skills, boating background and industry knowledge, to continue working in an industry he so much enjoyed. Along the way, he obtained his yacht insurance license, currently representing GlobalMarine Insurance, in addition to his responsibilities at Sterling Acceptance.

He and his wife Karen are actively involved in boating, spending as much time as possible on their Post 50 during the course of the boating season. They have made many friends on the water along the way, with it being rare that they do not run into someone that financed their boat with them.
“I must say that, I am one of those people that truly do enjoy coming to work and helping people realize a dream they have of owning that boat they always wanted.”

Rachael Murphy
Mid Atlantic Regional Sales Manager / Marketing Director
Annapolis, MD

410.268.1545 / 800.525.0554

Rachael was born and raised on the Eastern Shore of Maryland. Being on the water is second nature to her, and she has been lucky enough to have grown up in the wonderful boating community.

Starting in her junior year of high school, Rachael enrolled at the local community college taking pre-requisite finance classes and working at BankAnnapolis. After graduation, she continued working for BankAnnapolis, quickly taking on the head teller and new accounts role. She jumped at a great opportunity to work for NASA Credit Union handling loans and new accounts where her passion for lending and underwriting began to form.

Rachael began working for Sterling Acceptance Corporation in July of 2013. She has joined our Mid-Atlantic Sales Team as well as taken on our marketing management. In her spare time she enjoys spending time with family, camping, health/fitness, and all recreational vehicle play time. Classic Cars, Hot Rods, Boats, and Motorcycles are just some of her favorites.

Matthew Spedden
Mid-Atlantic Regional Sales
Annapolis, MD


Originally from Baltimore, and an Eastern Shore resident for the past 15 years, Matt can’t recall a part of his life that didn’t involve boating or the water. As a child he could be found cruising the bay with his family. Being members at Baltimore and Crescent Yacht Clubs, they spent most summer weekends on the boat being part of club events and traveling to various marinas around the Bay. As a teen, he was frequently at the beach, and served as a Lieutenant for Fenwick Island Beach Patrol into his early 20’s.  From there Matt transitioned to working with his father as an investment broker and comes to Sterling Acceptance with an extensive 18 year background as an investment advisor and most recently in commercial lending. He has a deep understanding of finance and truly enjoys helping people in that aspect of their lives. It’s quite fitting that his love of boating and love of finance have finally come together.

Matt stays active in the community and serves on the Board for Team Trace (www.teamtrace.org), a 501(c)(3), non-profit organization fighting Congenital Heart Disease. He also plays on multiple lacrosse leagues year round and previously served as an assistant coach at Sts Peter and Paul School in Easton, MD.

Matt, his wife Melinda and dog Rusty, reside in Wye Mills and are avid boaters, spending time on their Marlago most weekends during the summer. When not working or boating, he enjoys watching lacrosse and the Ravens, playing lacrosse, fishing, being at the beach and spending time with family and friends.

Peggy Bodenreider
West Coast Regional Sales Manager
Newport Beach, CA


For the past 30 years Peggy has held various positions in the marine industry. Her yacht financing career began with Horizon Credit Corp in Fort Lauderdale, moving to CA with the company in 1986. Peggy joined Ganis Corporation in 1988 to develop the direct marine lending business for the company.  Over the next several years, she opened yacht loan production offices in 10 major yachting centers in the US. The company was sold several times and Peggy remained with the firm while it was Deutsche Financial Services, E*TRADE Financial, and GE Money. Her responsibilities included sales management and business development for the indirect marine business, working with marine retailers and manufacturers to develop specialized retail finance programs.

Peggy is a past president of the National Marine Bankers Association, and has served on its board of directors since 1994. She is currently the association’s vice president and chairs the marketing committee. She served on the board of the Southern California Marine Association (now known as NMMA West) which devotes its efforts and resources to the promotion of boating in Southern California through involvement with boat shows, legislation, education, boating safety and boating promotion. She is also a member of the California Yacht Broker Association.

 Peggy and her husband are active boaters and members of the Catalina Marineros support group of the Catalina Island Conservancy. She frequently contributes articles about boating in southern California to BlueSkyNews.com. 

Susan Cunningham
Florida West Coast Regional Sales Manager
Bradenton, FL


Susan was raised in the Piedmont area of North Carolina. With such a large family surrounding her, fishing in lakes, falling in streams and eating fresh home raised vegetables made for a great family environment.

In school at East Carolina University, she was able to continue her education and be by the water.  A special, to-be-husband, lured her to Maryland where her education continued in the Chesapeake Bay area. She began working in the marine industry with new and used boat dealers, brokers, and insurance agents.  She began her journey with Sterling Acceptance Corporation in 1993, where she established our first Florida office. 

In addition to the thrill of the International Boat Shows that she has participated in for the last twenty years, she enjoys interacting with the salespeople, clients, and lenders that serve us.  She feels that even through the “tough years” our business has been rewarding and one that we know we will always play a part in making dreams come true.

Tim Pugh
Virginia Sales Manager
Virginia Beach, VA


Virginia Beach Native, Tim grew up on the Chesapeake Bay. At age 17 he bought his first power boat and began to enjoy cruising, fishing, and nights on the water.  In the late 1990's, his career changed and he became a sales representative for the local Sea Ray Dealer, selling Sea Ray’s and several brands of Center Consoles. In 2002, Tim was offered a sales position with a Marine / RV service company, and the rest is history!  

Tim has been married nearly 4 years to his wife Tammy and inherited two wonderful step sons. The oldest just made Tim a grandpa in July, and the youngest just started a Navy Career, being stationed at Little Creek on the USS Oak Hill, (LSD-51). They raise two dogs, Bailey and Tebow.
Tim is grateful he has been able to meet hundreds of friends and clients along the way, most of which still enjoy boating today.


Our Corporate Headquarters Staff

Betty Smith
Documentation Specialist

410.268.1545 / 800.525.0554

Betty has lived in Maryland since she was a child. She began working with documentation right out of high school, drafting legal documents for a large bus company. She then took an opportunity to work directly with a large sales team to complete their loan documentation forms, where she stayed for 19 years. In 2000 Betty started with Sterling Acceptance and quickly became the documentation specialist, bringing with her a great understanding of lending requirements and industry knowledge.  

Betty is very well known for her welcoming personality, marine and lending knowledge, quality work, and fast service. She is the “go-to girl” to many of our local brokers for their cash deals and documentation needs.  In her spare time, she enjoys reading, yard work, shopping and watching football. 

Heather Headshot 012014.jpgHeather Cavey
Administrative Assistant

410.268.1545 / 800.525.0554

Heather has lived on the Eastern Shore of Maryland her whole life. She was raised in a family of boaters and has spent much of her life fishing, crabbing, or just cruising on the Chesapeake Bay.

Heather is currently studying accounting at Towson University. She aspires to become a Certified Public Accountant after graduation. She began working for Sterling Acceptance Corporation in January of 2014. When she’s not studying or working, she enjoys spending time with family and friends, camping, boating, and watching sports.

Heather Headshot 012014.jpgSarah VanMeter
Administrative Assistant

410.268.1545 / 800.525.0554

Sarah was born and raised on Maryland’s Eastern Shore, where her boating experience began at a young age. With her Father and Uncle always on the water, she was fortunate enough to be able to learn and enjoy the lifestyle of boating that we all know and love. Now with her husband who enjoys deep sea fishing, she has been able to continue being on the water almost every weekend.

After high school, Sarah began working as a teller with BankAnnapolis where her love and talent for working with numbers and building customer relationships grew. She quickly became a head teller, which broadened her responsibilities and gave her the opportunity to dig deeper into finance and loan processing. After a seven year tenure with the bank, Sarah decided to take the opportunity to combine her love for boating and finance, and started with Sterling Acceptance Corporation in June 2014.

In her spare time, Sarah enjoys spending time with her family and dog, fishing, going to the beach, and projects to turn her new house into a home.  In the Summer time, most of her weekends are spent at her in-laws beach house in Chincoteague, VA.

Sarah will be working at our Corporate Headquarters in Annapolis, Maryland as a full time Administrative Assistant.



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