REFLECTOR: Construction loans

[Alex Balic]

Ha Ha Ha you are funny Larry- "Almost done except for the engine prop, and
panel"  I have been working on those three little items for about 7 years
now.

 

From: reflector-bounces at tvbf.org [mailto:reflector-bounces at tvbf.org] On
Behalf Of Lawrence Epstein
Sent: Friday, May 04, 2012 9:28 AM
To: Velocity Aircraft Owners and Builders list
Subject: Re: REFLECTOR: Construction loans

 

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


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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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