REFLECTOR: Construction loans

[Lawrence Epstein]

Short term is fine. Almost done and just need cash for the "big 3" (Engine,
Prop & panel!).

Any names you can give?

Larry

On Fri, May 4, 2012 at 10:05 AM, Stockman, Bill <
bill.stockman at daytonaero.com> wrote:

> There are several banks that finance homebuilts—expecially if they are
> kits from established companies like Velocity.   ****
>
> However, I found that most wanted a short term loan—five years with a
> balloon at the end.   ****
>
> They want you to hurry up and finish—otherwise they have nothing but a
> pile of parts to repossess.****
>
> ** **
>
> ** **
>
> Bill Stockman****
>
> Senior Associate****
>
> Dayton Aerospace, Inc.****
>
> ** **
>
> 937.426.4300  Office****
>
> 937.369.4799  Cell****
>
> bill.stockman at daytonaero.com****
>
> www.daytonaero.com****
>
> ** **
>
> *From:* reflector-bounces at tvbf.org [mailto:reflector-bounces at tvbf.org] *On
> Behalf Of *Peter Braswell
> *Sent:* Friday, May 04, 2012 9:32 AM
> *To:* Velocity Aircraft Owners and Builders list
> *Subject:* Re: REFLECTOR: Construction loans****
>
> ** **
>
> Lawrence,****
>
> Way-back-when I financed my Glastar kit as a new purchase from the
> factory.  Back then it was easy but times have changed and I don't know if
> that's still the case.  I don't recall the bank that I went through but it
> was a standard loan process with just a few aviation specific details.
>  They insisted that I reserve an N-number, produce a bill of sale and carry
> hull, not in motion insurance.****
>
> ** **
>
> -Peter****
>
>
> ------------------------------------------------------------------------**
> **
>
> *"It's a Jungle Up There": www.zuluworks.com*****
>
> *Great Aviation Gear: www.sky-gadgets.com*
> ------------------------------------------------------------------------**
> **
>
>
>
> ****
>
> On Fri, May 4, 2012 at 9:20 AM, Lawrence Epstein <ljepstein at hotmail.com>
> wrote:****
>
> Does anyone have any experience on obtaining financing for an unfinished
> project?
>
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