Question: Do you offer an asset-based loan? I would like to put a $350k note on a Cessna caravan I just bought. The caravan value is $950k.
Answer: Yes, we have a lender in our syndicate that offers an asset-based product. With this product, the lender will finance up to 60% of the aircraft value, or purchase price whichever is lower. The maximum loan term will be 5 years with a 15-year amortization and likely rate of 8.99%. The lender will require a credit score of 750. In the case of a reimbursement, the lender will require the loan to be in place within 45 days of purchase and it will be required that the original closing was through escrow. Please give us a call at 800.627.5263 so we can discuss your situation in more detail.
Do you have a question about aircraft financing? Our team has the answer for you! Submit your questions here. Great terms. Helpful and responsive reps. Those are the reasons to turn to AOPA Aviation Finance when buying an airplane. If you need a dependable financing source with people on your side, call 800.62.PLANE (75263) or click here to request a quote.
