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 along with details 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, and verification of liquid assets - 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 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 will include a pre-paid, pre-addressed overnight return envelope to expedite the process.
1. AirFleet conducts the title search on the aircraft.
2. AirFleet forwards the Closing Package via overnight FedEx for signing by Purchaser/ Guarantor together with a closing document instruction sheet. Documents include Promissory Note, Security Agreement, Authorization to Release Funds, Insurance Requirements, supporting FAA documentation (i.e. Bill of Sale, FAA Registration), and any other required documentation.
3. Closing documents need to be signed, notarized (where noted) and returned.
4. The Purchaser will make the down payment to the seller or escrow company. AirFleet wires the loan amount to the appropriate party(s), i.e. escrow company (escrow may be required depending upon the complexity of the transaction), seller or lien holder, as designated by buyer, upon receipt of documentation and authorization.
1. AirFleet submits the necessary FAA documentation to the FAA or appointed aviation escrow company for filing (Registration, Bill of Sale, etc.).
2. AirFleet will forward a complete set of your executed 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.