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  • NAFA Administrator posted an article
    CurrencyAir Joins National Aircraft Finance Association see more

    CurrencyAir Joins National Aircraft Finance Association 

     

    National Aircraft Finance Association (NAFA) is pleased to announce that CurrencyAir has recently joined its network of aviation professionals. CurrencyAir arranges competitive financing choices for aircraft purchases. 

    “NAFA members extend a warm welcome to CurrencyAir into our association,” said Jim Blessing, president of NAFA.  
     

    About CurrencyAir: 

    CurrencyAir offers an extensive network of lenders for all kinds of aircraft purchases, regardless of aircraft age, purchase price, or the type of aircraft being acquired. With a wide range of attractive terms and rates, CurrencyAir provides competitive financing options and superior customer service. A dedicated CurrencyAir financing expert works with aircraft buyers through the entire process, coordinating all details with the buyer, seller, escrow and insurance to ensure a smooth closing.    
     

    Products & Services: 

    • Term loans

    • Leases 

    • Financing for jets, turboprops, piston aircraft, helicopters, light sport, kit and experimental aircraft  

    CurrencyAir is a lending product designed for Controller.com, the world’s largest pre-owned aircraft sales site. With a lender network that covers the spectrum of deal sizes, aircraft types, and missions, CurrencyAir arranges competitive financing choices for aircraft purchase from $25,000 up to $50 million and beyond. Whether the mission is Part 91, Part 135, flight school leaseback, or even essential use, CurrencyAir has customized financing options to suit both consumer and corporate clients. For more information, visit: https://www.gocurrency.com/air/
     

    About NAFA:  

    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members with the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. The company now has three offices: Geneva, New York City and Dubai. 

     September 26, 2022
  • NAFA Administrator posted an article
    What’s the Aircraft Financing Outlook in 2022? see more

    AvBuyer’s Matt Harris asked NAFA Member David Hudak of 1st Source Bank’s Aircraft Finance Division for his insights into the market for financing private airplanes. How did the market develop during 2021, and what will the financing industry look like in 2022? Find out here.

    Considered a leading source for aircraft financing, 1st Source Bank’s history stretches further back than aviation itself. Established 158 years ago in 1863, aircraft financing has been offered by 1st Source for more than 35 years.

    Today, the Aircraft Finance Division at 1st Source can accommodate more than 300 transactions annually, with the main focus currently being the turboprop and jet markets across the United States, Mexico and Brazil. Nevertheless, the bank will actively finance turbine helicopters, too.

    “The total value of our aircraft financing portfolio is in the mid-nine-figures range, via traditional loan terms,” David Hudak tells AvBuyer as he sits down to discuss the market.

    Read full article here

    This article was originally published by AvBuyer on January 6, 2022.

  • NAFA Administrator posted an article
    Adam Meredith, AOPA Finance, discusses why lenders request logbooks and what they are looking for. see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, discusses why lenders request logbooks and what they are looking for.

    Lenders need to know that an asset—their asset—is in good shape. Logbooks tell the story of the airplane—where it was owned, how it was maintained, if it needed repairs. If it did need repairs, how often and who did the work? Did each owner take equally good (or bad) care of the airplane? Logbooks are a forensically valuable part of what the lender sees as a property they’re going to own.

    Look at it another way. Think of logbooks as you might think of your own medical history. From the first page to the last, logbooks paint a picture of the airplane’s overall health. The lender may not scan every page, but certainly enough pages to discern any trends. Logbooks can significantly raise or lower the value of an aircraft. If pages—or complete logbooks—are missing, that lessens the airplane’s overall value.

    Read full article here

    This article was originally published by AOPA Finance on October 4, 2021.

  • NAFA Administrator posted an article
    How To Get A Loan For An Aircraft see more

    NAFA member, Jason Zilberbrand, President & CTO of VREF, discusses aircraft loans.

    Getting a loan for an aircraft of your choice can be an endeavor; however, financing is an available option (of course, depending on a few factors).

    You might first assume that obtaining a loan for aircraft is a similar process to buying a car. In reality, funding your plane through a lender follows more closely with buying a home.

    The time frame is longer. Lenders offer different rates depending on your net worth, credit history, and aircraft model. How you plan to use the airplane can also be a consideration. There are also more types of lenders than one might be aware of, from large banks to regional credit unions. We will go through them all.

    Read full article here.

    This article was originally published by VREF on July 7, 2021.

  • NAFA Administrator posted an article
    NAFA member and Jetcraft President Chad Anderson discusses "The Trade-In Transaction". see more

    NAFA member, Chad Anderson, President of Jetcraft, discusses the trade-in transaction.

    In private aviation, the decision to upgrade or replace an aircraft has traditionally required an owner to sell their asset to fund their purchase, a process that often takes months and involves considerable downtime on the ground. Trade-in transactions, on the other hand, provide a swift, and seamless alternative, where the broker or dealer accepts a client’s current aircraft in exchange for another. With a trade, the owner simultaneously transitions into ownership of their new aircraft, eliminating the risk of holding and selling their asset and avoiding a costly crossover period.

    Reducing transaction time and complexity

    A trade-in transaction essentially combines two events – the aircraft sale and purchase. There is only one contract, and an aircraft owner will deal with one invested partner for the trade, rather than two disconnected parties with bilateral interests. Importantly, the pre-buy inspections will also occur at the same time.

    Read full article here.

    This article was originally published by Jetcraft on August 31, 2021.

  • NAFA Administrator posted an article
    Magic Numbers - Airframe Hours Can Make Lenders Weak in the Knees see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, discusses airframe hours and financing.

    With the market the way it is right now, we’ve seen a huge uptick in the number of people looking to get financing on airplanes that have 9,000, 10,000, even 13,000 hours on their airframes. Normally buyers don’t even look at these airplanes, but because that’s what’s available, that’s what they’re settling on.

    Unfortunately, financing could be a challenge. Once you get past 10,000 hours on a piston aircraft airframe, some lenders will start to get weak in the knees. We’ve known lenders who become hesitant with fewer hours than that. So, your financing options are going to become increasingly limited as you approach that 10,000-hour threshold.

    This same hesitancy does not apply to turbine aircraft—turboprops or jets. Because of the rigorous tests those pressurized aircraft go through during their annual inspections, and the scheduled maintenance that goes into keeping them airworthy, lenders will be comfortable, potentially, doing deals on these types of airplanes with more than 10,000 airframe hours.

    Read full article here.

    This article was originally published by AOPA Finance on September 1, 2021.

  • NAFA Administrator posted an article
    What Are Common Red Flags For Aircraft Lenders? see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company shares five of the most common red flags lenders see. 

    The most common red flags for lenders are:

    • Missing or incomplete logs
    • Abnormally high airframe hours
    • An airplane that is close to or past the recommended time for engine overhaul (TBO)
    • A history of damage
    • Obsolete or aged turbine aircraft

    With missing logbooks, if a borrower is in a strong financial position and what’s missing isn't significant, there may find be little or no impact on the loan. Still, it’s good to plan on the structure of the loan being affected.

    We’ll address high airframe hours in an other article, but the short answer is, unless you’re acquiring a turboprop or jet, it will be an issue. At or close to TBO? Plan on extra reserve requirements, a lower LTV analysis or a higher down payment.

    Read full article here.

    This article was originally published by AOPA Aviation Finance Company on July 29, 2021.

     September 28, 2021
  • NAFA Administrator posted an article
    Dallas Capital Bank Joins National Aircraft Finance Association see more

    FOR IMMEDIATE RELEASE: May 25, 2021                                  

    Contact: Tracey Cheek

    TLC@NAFA.aero

    405.850.1292

    Dallas Capital Bank Joins National Aircraft Finance Association
     

    Edgewater, MD: National Aircraft Finance Association (NAFA) is pleased to announce that Dallas Capital Bank (DCB) has recently joined its professional network of aviation lenders under the leadership of Scott Powell (Executive Vice President, Private Banking) and Leighton Callan (Vice President, Private Banking).

    This Dallas-owned and managed boutique commercial and private bank was founded to provide entrepreneurs, business owners, and affluent individuals and families access to customized banking solutions. Dallas Capital Bank combines highly talented and experienced bankers with real-time local decision making, innovative technology, and white-glove service to create a higher level of banking service.

    “NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world. We’re excited to welcome Dallas Capital Bank to our growing organization as we celebrate our 50th anniversary,” said Jim Blessing, president of NAFA.

    About Scott Powell:

    Scott leads the Private Banking group for Dallas Capital Bank. He has over 20 years of private wealth finance experience, providing clients with private banking lending and depository services, as well as risk and asset management. Prior to joining Dallas Capital Bank, Scott served as Market Executive, Private Wealth at Bank of Texas. He earned his Bachelor of Sciences in Organizational Management from John Brown University and his MBA from the Sam M. Walton College of Business at the University of Arkansas, where he currently serves on the Alumni Advisory Board. Previously, he served on the boards of the United Way, My Possibilities, and Circle of Life Hospice. Scott is also a Private Pilot and holds membership with AOPA, NBAA, and NAFA.

    About Leighton Callan:

    Leighton is a member of the Dallas Capital Bank Private Baking team. He has over 12 years of experience with a focus on private wealth, including developing and implementing custom, strategic banking solutions for high-net-worth clients and family offices. Prior to joining Dallas Capital Bank, Leighton served as Private Banking Relationship Manager at Texas Capital Bank. He earned his bachelor’s degree in Economics from Southern Methodist University and is a graduate of the Southwestern Graduate School of Banking.

    For more information about Dallas Capital Bank, visit https://www.nafa.aero/companies/dallas-capital-bank.

     

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    About NAFA: The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members with the most up-to-date industry trends and best practices. Government legislation, market influences, and industry insights allow member companies to provide the highest quality services the industry has to offer.


     

  • NAFA Administrator posted an article
    NAFA Member Adam Meredith, President of AOPA Aviation Finance Company, discusses aircraft loans. see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, discusses loan lengths in Adam Answers May edition.

    Question: What determines the length of loan say between 15 and 20 years. I’m looking at a 1997 aircraft to finance 45k. What term might I expect to get?

    Answer: Generally speaking the amount financed,  usage and age are what limits length of term. In this case age is not the issue, however, loan amount at $45k would likely limit you to 15 years. The reason being, after 3 years on this amortization schedule you will have only paid the loan by less than $4k. This doesn’t leave much room for surprise expenses like an engine overhaul and therefore benefits neither the owner nor the lender.

    Question: Can I get a loan to finish off a project aircraft? I would need less than 20k to purchase the avionics. Everything else (engine and Airframe) are done. I could get a conditional Airworthiness inspection if needed. Thanks.

    Answer: Thanks for the question. It really would depend on the specific aircraft and how much work (time) it will take to get it airworthy. We’d be happy to discuss further, please contact us directly so we can review your specific situation.

    This article was originally published by AOPA Aviation Finance Company on April 30, 2021.

  • NAFA Administrator posted an article
    Five Reasons to Consider an Asset-Based Loan see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, discusses asset-based loans.

    Here are five cases for choosing an asset-based loan over a credit-based one:

    1. Individuals with complicated financials. Aviation lenders must be able to clearly see the sources and timing of cash flow to understand a borrower’s debt service side of the equation in a typical credit-based loan. Having revenue streams from multiple assets often doesn’t provide such a clear understanding. A person possessing multiple assets, i.e. businesses generating revenue, might find asset-based loans a good choice.

    For example, individuals with real estate holdings usually hold them in multiple entities, complicating matters from a lender’s viewpoint. Car dealers are another example. Regardless of how well-established or profitable a car dealer is in real life, the nature of that business generally has them highly leveraged. On paper, to a bank they look like they’re carrying a lot of debt. Both examples tend to make a lot of banks hesitant to issue credit-based loans.

    2. Individuals who derive income from multiple businesses of which they may have minority or partial ownership. Conventional aircraft financers tend to require those businesses as a guarantor on the loan. As a partial owner, you may not be able to comply with that request.

    3. Other cases include instances where a person cannot provide business recourse. An asset-based loan typically isn’t going to require business recourse.

    4. Another example would be serial entrepreneurs, or mezzanine-type financiers, who generate revenue in an uneven fashion. In other words, year-to-year their income may look sporadic, but over a three- or five-year period it has a consistent arc. Because a project has a three-year timeline, say, the amount of debt carried in the first two years may be high, but the third year could be profitable. If lenders are looking at financials a year at a time, they would reject the financials, so an asset-based loan is your best bet.

    5. A fifth example involves people with a complicated tax and estate planning structure whose income might derive from trusts. Retired people can fall into this category too. If you don’t have traditional cash flow coming through, that’s going to be problematic. Hence it’s worth it to consider an asset-based loan.

    Last of all, asset-based loans can be done generally more quickly because lenders won’t require a full financial audit. Their concerns center around whether you’ve sued or been sued by anybody, if you have a prison record, or if you have other anomalies that might surface.

    This article was originally published by AOPA Finance on March 19, 2021.

  • Tracey Cheek posted an article
    Jet Speed Aviation Inc. Joins National Aircraft Finance Association see more

    FOR IMMEDIATE RELEASE

    EDGEWATER, Md. - Feb. 13, 2019 - National Aircraft Finance Association (NAFA) is pleased to announce Jet Speed Aviation, Inc. has recently joined its professional network of aviation lenders. “NAFA members proudly finance - support or enable the financing of - general and business aviation aircraft throughout the world, and we’re happy to add Jet Speed to our association,” said Ford von Weise, President of NAFA.

    Jet Speed Aviation Inc. specializes in business aircraft sales and acquisition services, with over 40 years of aircraft sales experience. Their services include aircraft sales and brokerage, acquisition services. inventorying dealer, aircraft records and maintenance evaluation, pre-purchase inspection oversight, management program recommendations, flight operation logistics recommendations and aircraft interior/exterior completion guidance. 

    The company hasa history of development, operation and ownership of full-service corporate aviation fixed base operations. With their significant experience in aircraft sales, FAA certified repair station maintenance operations, avionics, and completions, Jet Speed holds exceptional qualifications. Their expertise lends to all aspects of corporate aviation, giving their clients a significant advantage.

    The Jet Speed sales staff includes professional FAA certified maintenance technicians, giving the company the in-house ability to evaluate information for aircraft under consideration for sale or purchase. The team understands the intricate details of aircraft maintenance status, future aircraft maintenance requirements and the impact these factors have with respect to aircraft value and future ownership costs.

    Jet Speed Aviation also has an exclusive database of aircraft for sale listings, access to off-market aircraft and up to date worldwide aircraft market data, providing their clients the information necessary for an educated decision when buying or selling aircraft.The company’s industry market knowledge, experienced staff and aircraft market intelligence deliver professional, personalized services for well-informed and efficient transactions.

    Much like NAFA, Jet Speed Aviation’s commitment, passion for aviation, and wealth of experience deliver exceptional quality and performance. Jet Speed and NAFA foster an environment in which expectations are consistently exceeded, upholding the highest standards of service in the aviation industry.

    For more information about Jet Speed, visit JetSpeedJets.com/.  

    About NAFA: 

    The National Aircraft Finance Association (NAFA) is a non-profit corporation dedicated to promoting the general welfare of individuals and organizations providing aircraft financing and loans secured by aircraft; to improving the industry's service to the public; and to providing our members with a forum for education and the sharing of information and knowledge to encourage the financing, leasing and insuring of general aviation aircraft. For more information about NAFA, visit www.NAFA.aero.

  • Tracey Cheek posted an article
    YYZlaw Joins National Aircraft Finance Association see more

    FOR IMMEDIATE RELEASE

    EDGEWATER, Md. – Feb. 5, 2019 – National Aircraft Finance Association (NAFA) is pleased to announce that YYZlaw has recently joined its professional network of aviation lenders. “NAFA members proudly finance - support or enable the financing of - general and business aviation aircraft throughout the world, and we’re happy to add YYZlaw to our association,” said Ford von Weise, President of NAFA.

    YYZlaw (formerly Clark & Company) is a corporate and regulatory law practice with an emphasis on the aviation and travel industries. Their main clients are scheduled and charter international airlines flying into Canada, domestic air carriers, Canadian aerospace companies, aviation and travel trade associations, tour operators, aircraft lessors, financial institutions and a variety of other organizations and professionals related to the aviation and travel industries.“With our decades of experience serving the regulatory and transactional needs of business aircraft financiers and their clients, YYZlaw is excited to continue to further the growth of our industry by supporting NAFA’s mandate,” said Bill Clark, Managing Partner at YYZlaw.

    The company provides legal counsel services to foreign and domestic corporations conducting aviation and travel businesses under the laws of Canada, including: regulatory advice on all aviation matters, the travel and tour operator industries; commercial and transactional advice on aircraft leasing, acquisitions and financing; commercial advice to aviation and travel companies in regard to laws of general application relating to labor, immigration, real estate and taxation; andadvice regarding the Cape Town Convention, including assistance with forming and maintaining accounts on the International Registry. “We pride ourselves on providing cost-effective, timely and sensible legal advice because we understand the real-life demands present in the business aviation sector,” said Ehsan Monfared, Legal Counsel at YYZlaw.

    Much like NAFA, YYZlaw fosters strong client and business relationships with their expanding network of specialized professionals. YYZlaw and NAFA provide the knowledge and dedication necessary for continued development in the aviation industry.

    For more information about YYZlaw, visit www.yyzlaw.com

    About NAFA: 

    The National Aircraft Finance Association (NAFA) is a non-profit corporation dedicated to promoting the general welfare of individuals and organizations providing aircraft financing and loans secured by aircraft; to improving the industry's service to the public; and to providing our members with a forum for education and the sharing of information and knowledge to encourage the financing, leasing and insuring of general aviation aircraft. For more information about NAFA, visit www.NAFA.aero.

  • NAFA Administrator posted an article
    What Determines the Length of a Loan see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, answers your aircraft finance questions.

    Question: What determines the length of loan say between 15 and 20 years. I’m looking at a 1997 aircraft to finance 45k. What term might I expect to get?

    Answer: Generally speaking the amount financed,  usage and age are what limits length of term. In this case age is not the issue, however, loan amount at $45k would likely limit you to 15 years. The reason being, after 3 years on this amortization schedule you will have only paid the loan by less than $4k. This doesn’t leave much room for surprise expenses like an engine overhaul and therefore benefits neither the owner nor the lender.

    Question: Can I get a loan to finish off a project aircraft? I would need less than 20k to purchase the avionics. Everything else (engine and Airframe) are done. I could get a conditional Airworthiness inspection if needed. Thanks.

    Answer: Thanks for the question. It really would depend on the specific aircraft and how much work (time) it will take to get it airworthy. We’d be happy to discuss further, please contact us directly so we can review your specific situation.

    Have questions for Adam? He is happy to answer them. Submit your questions here. 

    This article was originally published by AOPA Aviation Finance Company on April 30, 2021.

  • Tracey Cheek posted an article
    Will High Time Engines Complicate the Loan Process? see more

    NAFA member Adam Meredith, President of AOPA Aviation Finance Company, discusses finding the "perfect airplane" and the loan process.

    You’ve finally found the perfect airplane. It has no damage history, all of its logs, great avionics, and good interior. The high time engines are the only downside. You’re not worried because the plane is flown often and mechanically is in great shape. When you present it to your lender, though, the lender balks. Why?

    Lenders tend to keep the worst-case scenario in mind. For them, that case is if they might have to repossess the aircraft with it needing an overhaul. To make it marketable again, the lender would have to use their own money for an overhaul. To counter that, most lenders are going to specify you have enough liquidity to cover an overhaul from Day 1.

    Some lenders may require an overhaul as part of the purchase. Others may require a "hold back" amount of money as a precursor to financing. That "hold back" amount must be sufficient to cover overhaul costs upon taking delivery. Because lenders recognize that the likelihood of other expenses popping up at any time with an airplane is high, they may also require an additional cushion of liquidity as a condition of completing the deal. Some lenders will simply bow out of the transaction entirely.

    For many pilots, having to fold an overhaul into the purchase price looks like a pricing discount opportunity. The reality is aviation market appraisers have already figured that into the equation. For example, if two identical aircraft are for sale and one has a fresh overhaul while the other is at TBO, the airplane with the fresh engines will have a market value of at least $30,000 more per engine over the TBO plane. 

    We've had clients who felt their ability to potentially liquidate an asset to cover an overhaul should have had that counted in their favor. Lenders tend to disagree with that assessment for two reasons. First, offering to liquidate an asset against an overhaul changes the global financial picture of the borrower. Keeping in mind that every aspect of one's financial picture is interconnected; it becomes easy to see why changing one part may have a negative domino effect overall.

    Second, where borrowers tend to feel eternally confident about their ability to quickly liquidate any asset they own, lenders are more sanguine about the reality of asset disposal. Financers can draw from plenty of historical precedent where circumstances changed for the worse, and the asset a borrower thought would be easy to sell to cover the unforeseen event fetched far less than expected or didn't sell at all. 

    The flip side of that coin are two specific instances where an airplane owner whose engines are at TBO might easily obtain an overhaul loan. In the case of an aircraft that is free and clear, it’s generally possible to get virtually 100% financing. The second situation is when a loan is still outstanding. If the amount requested--plus the remaining principal--adds up to less than 80% loan-to-value (LTV), a lender will typically refinance. In that case, the owner may not have to go more than 20% out of pocket to pay for the overhaul. 

    Lenders who provide this type of refinancing find it attractive for another reason. Often a pilot will include an avionics or interior upgrade, thus turning a simple engine overhaul into a whole aircraft refurbishment. The one caveat is, at least on the piston side, the relatively small dollar amount of a refinance loan for an overhaul is low, so it's not necessarily attractive to a lot of lenders.

    This article was originally published by AOPA Aviation Finance Company on July 10, 2019.

  • NAFA Administrator posted an article
    Aircraft Loan Demand Side Primer see more

    NAFA member, Adam Meredith, President of AOPA Aviation Finance Company, explains the supply side and demand side for aircraft loans.

    Think of the supply side as AOPA Aviation Finance clients—people in the market to buy an airplane.

    From our perspective, pilots need loans, so they should be the demand side. From our perspective, banks offer loans, so they should be the supply side. It’s actually flipped. Lenders represent the real demand side in this market. It’s a counterintuitive concept, I know.

    In previous articles, we’ve talked about Fed rate changes from the perspective of the borrower, the actual supply side. We’ve talked about how the expectation that a lowering of Fed short-term money, usually 30-day money, may not correlate to a lowering in interest rates on long-term money (5-, 10-, 15- or 20-year).

    There are two general reasons why: One is the Fed tends to signal its intent far enough in advance that lenders price in that new rate for subsequent loans. Another is due to a lender’s cost of business. Let’s say a lender requires a spread in its aircraft loan portfolio of 200-235 basis points above their cost of money to stay afloat. If their cost of money is 2%, then their average lending rate will need to be 4.35%. A Fed rate lower than that will simply not work.

    Does that mean lenders miss out on lending opportunities? It depends. If a finance company is in the market for making loans, then yes. But if they’re not, then no. The “no” depends upon their appetite, or demand, for loan-making.

    We think that banks are always in the mood to make a loan. After all, loans are a bank’s assets, and who wouldn’t want more assets, right? But there are unusual times, there are environments and there are situations when a bank has little or no appetite to assume more loans. This is one of those times.

    The current pandemic and its deleterious effect on both the global economy and on Wall Street have banks concerned about what 2021 will look like. Couple that with the fact that the current low interest rate atmosphere has many banks already booked solid on loans as well as being at the lowest end of their profit margins on those loans, and we find ourselves in a unique moment where banks are willing to avoid the risk inherent in making aircraft loans.

    The Fed dropping rates to historic lows will not always prime lenders to increase demand, regardless of a ready pool of pilots eager to transact deals. It doesn’t happen often, but uncertain times like these might even encourage lenders to raise rates to discourage lending until uncertainty eases.

    This article was originally published by AOPA Aviation Finance Company on January 27, 2021.