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How to Apply for IFA Aircraft Financing
After submitting a request for quote (click here to access quote form), AirFleet will provide a quote within 1 business day for your consideration. Along with the quote, AirFleet will provide you with a copy of the application and suggestions on how to forward the credit package. Application and Approval Process 1. Complete the application and forward to AirFleet Capital, via mail, overnight express or fax, together with supporting information listed on the Financial Information Requirements Sheet (i.e. aircraft specifications if available, 2 years' tax returns for business and/or individual purchasing aircraft - include all applicant(s)/ guarantor(s) information). 2. Upon receipt, AirFleet will review the Application and will contact you with any questions. 3. AirFleet will complete the underwriting typically within one to two business days. More complicated business financings may take longer. Closing Process Closing takes two business days - one day to prepare and overnight documents to you and one day for you to sign and return the documents. AirFleet includes a pre-paid, pre-addressed overnight return envelope to expedite the process. 1. AirFleet conducts the title search on the aircraft. 2. AirFleet forwards Closing Package via overnight FedEx for signing by Purchaser/ Guarantor together with a closing document instruction sheet. Documents include Loan and Security Agreement, Chattel Mortgage, Authorization to Release Funds, Insurance Requirements, supporting FAA documentation (i.e. Bill of Sale, FAA Registration), and any other required documents. 3. Closing documents need to be signed, notarized (where noted) and returned. 4. AirFleet wires the loan amount to seller/ lien holder, as designated by buyer, upon receipt of documentation and authorization. Buyer makes down payment to seller. Post Closing 1. AirFleet submits the necessary FAA documentation to the FAA for filing (Registration, Bill of Sale, etc.). 2. AirFleet copies and forwards a complete set of documents to you for your records. 3. AirFleet conducts post-sale title search to verify proper title and forwards a copy to you for your records. |
