Aircraft Financing FAQs

Aircraft Loan Financing FAQs

Banterra Aircraft Finance makes getting an aircraft loan easy. Simply click here and you can apply online or download an application to mail. Banterra Bank offers aircraft loans nationwide except for the states of Alaska and Hawaii. Additional documents will be needed to complete your application process, but only a minimal amount for initial approval.

Initial credit approval only requires:

Complete Application
Personal Financial Statement
Most Recent Two Years Tax Returns with all Schedules
Additional documents will be needed to finalize approval and application process:
Aircraft Specification Sheet Listing Avionics & Optional Equipment
Liquidity Verification (Copies of most recent bank/brokerage statements)
Articles & Certificate of Corp./Cert. of Formation & Op. Agreement (LLC)
Legible Copy of Driver License (Patriot Act Requirement)
Copy of FAA issued Airmen Certificate

You can contact a Banterra Aircraft Lender at any time with questions and you will also be contacted after you have applied, generally within one business day.

Does it take a long time to determine if my aircraft loan application is approved?

Your credit review is completed in one business day in most cases and you will be contacted by a Banterra Aircraft Finance Lender.

Why should I use Banterra Aircraft Finance?

With Banterra Aircraft Finance, you speak directly to experienced aviation underwriters and airmen who also happen to be the decision makers. Because we are a bank, we are a direct lender and able to offer extremely competitive rates and terms. Your loan will not be sold to an external source and we have the ability and desire to offer fast credit review and turn-around times. Finally and most importantly, our company has been founded on offering exceptional, local-style service from day one and that holds true with our aircraft efforts.

What are the rates, terms, fees and needed down payment for my aircraft loan?

Banterra Aircraft Finance offers:

Long-Term Fully Amortized Loans with No Balloon Payment
Reduced Customized Down Payment Options
Stated Income Loan Program Available to Qualified Applicants
Minimum 15% Down Payment with lower rates available with larger down payments
No application fee or points
Nominal closing costs

What type of aircraft can I finance with an aircraft loan?

Banterra Aircraft Finance offers loan programs for a wide array of general aviation aircraft including piston, experimental, light sport (LSA), turbo-prop, and business jets. Banterra Bank offers aircraft loans nationwide except for the states of Alaska and Hawaii.

Can I apply for financing to make improvements to my existing aircraft?

Yes, Banterra Aircraft Finance offers engine, refurbishment and avionics upgrade financing.

Can I refinance my current aircraft loan with Banterra?

Yes, Banterra Aircraft Finance offers competitive rates and exceptional service, and a free quote with no obligation.

Any restrictions to service area for Banterra Aircraft Finance?

Banterra Aircraft Finance offers nationwide service, to all U.S. states with the exception of Alaska and Hawaii. Banterra Aircraft Finance does not offer international service.

Is an aircraft appraisal required for my aircraft loan application?

No. Banterra Aircraft Finance utilizes V-Ref, Aircraft Blue Book, and market conditions to appraise aircraft, as well as internal review by seasoned aircraft lenders.

Any limitation to types of registrations for my aircraft?

Banterra Aircraft Finance accepts Individual, Joint, Partnership, LLC, and Corporation Registrations.

What type of insurance is required for my aircraft loan application?

The following are insurance requirements for loan approval with Banterra Aircraft Finance:

Full-risk, in-flight and ground-hull coverage sufficient to cover loan proceeds amount
Lien-holder interest endorsement with a Breach of Warranty and 30-day Cancellation Notice
Minimum of $1 million liability coverage (standard on majority of insurance policies)

Will sales tax be financed also?

Sales tax cannot be financed, however Banterra allows Florida Doc. Stamp Tax to be financed (.0035% with Max. of $2,450 Tax) for Florida residents. States have specific local, county, state taxes. Contact your state’s Department of Revenue to learn more.