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  #1  
Old 04-24-2018, 07:59 AM
rnewcomb7797 rnewcomb7797 is offline
 
Join Date: Mar 2015
Location: Ft Leonard Wood, MO
Posts: 18
Default engine/prop financing

I have called both AOPA financing and NAFCO. Neither companies will give loans to help me purchase the engine and prop since the RV14 is a newer model aircraft. For those who have purchased these, is everyone writing personal checks or getting loans through other lenders? Guess I need to get a second job!!
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#140220
RV 14A tail kit done
QB wings in the crate
QB fuselage done
finish kit in progress
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  #2  
Old 04-24-2018, 08:28 AM
pierre smith's Avatar
pierre smith pierre smith is offline
 
Join Date: Jan 2005
Location: Louisville, Ga
Posts: 7,840
Default Local bank?

Hi Ron,
Over the years, I've bought Cessnas, Air Tractors and my RV-10, all financed by my local bank. At competitive rates too. Try yours.

Best,
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Pierre Smith
RV-10, 510 TT
RV6A (Sojourner) 180 HP, Catto 3 Bl (502Hrs), gone...and already missed
Air Tractor AT 502B PT 6-15 Sold
Air Tractor 402 PT-6-20 Sold
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Louisville, Ga

It's never skill or craftsmanship that completes airplanes, it's the will to do so,
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  #3  
Old 04-24-2018, 10:31 AM
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Mark33 Mark33 is offline
 
Join Date: May 2010
Location: Baton Rouge, La.
Posts: 753
Default Kit Aircraft loans

Check out First Priority Bank in Prior Oklahoma....they?re good people to work with. https://www.1st-of-pryor.com
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  #4  
Old 04-24-2018, 11:32 AM
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rleffler rleffler is offline
 
Join Date: Jun 2006
Location: Delaware, OH (KDLZ)
Posts: 4,196
Default

Quote:
Originally Posted by Mark33 View Post
Check out First Priority Bank in Prior Oklahoma....they?re good people to work with. https://www.1st-of-pryor.com
I used them as well. The project was financed much like a construction loan when you build a house. You borrow what you need, when you need it.

Be forewarned, they are a small bank and don't have all the processes larger banks have. That is both a blessing and a curse. They were always responsive to both calls and emails.
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