Frequently Asked Questions
Q: How long does the aircraft loan approval and closing process take?
A: With a completed application, necessary tax returns and financial information we can have an approval in one day. We can close within 2-3 business days, once the loan documentation has been sent for your signature.
Q: What is needed in order to start the Approval process?
A: A completed loan application including your personal financial statement along with complete copies of your last two years federal tax returns.
Q: Why does an individual have to fill out personal information on the credit application and a personal financial statement if the aircraft will be registered in a company name?
A: A personal guaranty is required on every loan.
Q: Do you need my entire tax return?
Q: How much can be borrowed on an aircraft?
A: We lend 90% (10% down) on Private Use, Independence-built Cessna aircraft (1997 and newer), that are in Van Bortel Aircraft, Inc.'s inventory. We also lend 90% (10% down) on all New Cessna Aircraft.
Q: Do you finance sales tax?
Q: What are the insurance requirements?
A: Full hull insurance both in flight and on ground with Breach of Warranty, Loss Payee and 30 days written notice of cancellation given to the lien holder.
Q: Is there an option for automatic payments?
A: Yes, we can set you up for ACH.
Q: How do I determine the payoff balance of my loan?
A: Call or email us anytime for the payoff for a particular day (including principle and interest).
Q: Is there a prepayment penalty?
A: There are absolutely no prepayment penalties.
Contact Brian Bourett for all of your financing needs.
"You are the absolute best-a real class act." — B.B.