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Aircraft Kit Loans - other than First Pryority

UnPossible

UnPossible

Well Known Member
Hey - I just spoke with Doug Smith at First Pryority bank and learned that they recently have elected to get out of the kit loan business. :(

I used them for my 7A project, and was planning on using them to finish up my 10... but I guess that I need to find an alternative.

Does anyone know of a similar bank that will help fund the kits/engine/avionics for ~24 months before they are flying?

Thanks,
Jason
 
LightStream Lending has a category for the purchase or refinance of a Boat/RV/Aircraft. I used them for my avionics loan. Fully online and almost completely automated, so just play your kit purchases as the purchase of a plane. ;)
 
UnPossible said:
I've reached out to NAFCO, as they are listed on the EAA website as offering financing for experimental projects. The person that handles these loans was out by the time I called, but I'll report back once I speak with them and see how their program works.

https://www.eaa.org/eaa/eaa-members...olutions/aircraft-kit-and-materials-financing
Click to expand...

I spoke to them at OSH. They definitely do projects. The guy I spoke with mentioned a 5 year loan/10 year amortization as being typical. Once you get an airworthiness cert, you refi as a regular aircraft loan.
 
I used NAFCO for my 12 loan. Back then they liked to have the whole kit (engine and avionics) included.

Bob
 
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