Banterra Bank is the industry leader in innovative general aviation financing programs and now offers “Asset Based” loans on transactions from $100,000 up to $1,000,000 and does not require tax returns or financial statements and only requires a limited personal guarantee! Interest rates are not much higher than traditional full disclosure loans and closing costs are very reasonable.
Applicants are required to complete a simple Credit Application and have a credit score at or above 750 with no prior derogatory credit history. Verification of the down payment from a related entity (personal bank account, business account, trust account, etc.) is required. Applicants must be U.S.A. citizens and the aircraft must be operated for personal or business use under FAR Part 91 (No FAR Part 135, leaseback, or commercial usage allowed under this new program).
Eligible aircraft include piston powered aircraft newer than 1975 and turbo-prop business aircraft newer than 1985 with less than 5,000 hours total airframe time and less than mid time on engine(s). Standard terms to 15 years apply with a balloon payment due at the end of 5 years.
Banterra Bank also offers highly competitive, long term “traditional” financing from everything from new Hot Air Balloons, Sail Planes, Motor Gliders, Antique & Vintage Aircraft, Light Business Jets, Turbo-Props, and Piston Helicopters too! On loans under $100,000 Banterra Bank offers a “Friction Free” on-line application that can be completed in a few minutes without the need to send in taxes or bank statements. Contact one of their Commercial Pilot, Aircraft Lending Specialist(s) at (888) 254-5731 or e-mail Aircraft@Banterra.com for more information.