Financing Steps

Financing Checklist and Application Process

 

In order to process your aircraft loan please refer to the checklist below. For faster approval it is necessary to provide all financial statements in addition to tax returns.

For Individuals/Co-Owners

• Completed Loan Application - signed and dated
• Previous two years federal income tax returns including all schedules - signed and dated
• Current paycheck stub
• Aircraft specification sheet
• Copy of log book entry for last major Annual or Phase inspection
• Executed Aircraft Purchase Agreement

For Privately Held Corporations

• Previous two years corporate financial statements
• Previous two years federal income tax returns including all schedules.
• Aircraft specification sheet
• Executed Aircraft Purchase Agreement
• Description of company or brochure
• Guarantor(s) required
• Principals of company to supply individual information (As listed above for Individuals/Co-Owners)

For Partnerships

• Previous two years partnership tax returns with all schedules
• Aircraft specification sheet
• Executed Aircraft Purchase Agreement
• Description of partnership
• Guarantor(s), if required
• Partners to supply individual information (As listed above for Individuals/Co-Owners)

Approval and Loan Closing Process

• • Loan application package is completed and returned to us to submit to the lender; loan goes into processing.
  • Pre-purchase inspection is completed and approved.  Lender Form is completed by a licensed aircraft mechanic and submitted to the Lender (used aircraft only)
  • The Lender will order a title search.
  • Documents are prepared and sent out for client execution; upon execution originals are returned to the bank.
  • Loan is funded; FAA documents are recorded.  Enjoy your new aircraft!