What Happens After the Loan Is Approved?

After Approval Process

1. An AAF loan administrator will contact you via phone and/or e-mail to communicate the Lender’s approval decision.
2. The AAF loan administrator will send you a Pre-Closing Checklist to be completed.
   
   Samples of the required documents listed in the Pre-Closing Checklist:
   • Purchase Agreement
   • Bill of Sale 
   • If registering the aircraft in a Business Name or LLC Name, Articles of Incorporation or other appropriate organizational documents will be required.
3. When the purchase agreement, appropriate organizational documents and Bill of Sale have been received, the Loan Administrator will order a title search on the aircraft.
4. Once a clear title search has been verified and received, the Loan Administrator will create your loan documents and overnight them to you to the address on the application.
5. You will sign and notarize the loan documents and send them back to us via the pre-paid envelope.
6. You need to provide proof of insurance information that meet lender requirements (Lender requirements will be provided.)
7. You/the seller will need to provide wiring instructions.
8. As soon as the AAF loan administrator has received all of the above documents and the documents are executed properly, the loan package will be sent to Funding/Escrow.

All financial information may be emailed to [email protected] or faxed to: 877-314-6448. Please call 1-800-62-PLANE to speak to a loan specialist if you have questions.