Question for anyone who's financed kit completion with NAFCO

[N546RV]

Hey all,

I already have an email out to NAFCO asking for clarification on this point, but I wanted to see if there were any real-world stories I could get in the meantime.

When I first reached out to NAFCO a few months ago, asking about financing for my FWF/avionics, one pertinent point was the ability to use the money I've invested in the build so far as part or all of the down payment on the loan. The provision in the boilerplate email I got was that I needed to provide invoices and bank statements as supporting documentation.

Invoices I can do, that's not too hard, but bank statements may be a different matter. I ordered my emp kit in 2011, and my wings in 2013, both paid out of a bank with whom I no longer do business. I don't have a ton of confidence in my ability to get a bank statement to back those purchases up.

Has anyone here done the NAFCO financing to finish their plane, and used previous kit purchases in this way? If so, can you comment on what supporting documentation you were required to provide?

 

[agent4573]

We talked to the AOPA finance people, who contacted the loan people, so this is 2nd hand information through AOPA. They never mentioned bank statements to us, just invoices and receipts from Van's, the prop guys, etc. for what we already purchased. This was before COVID hit, so they may have upped the documentation requirements in the last month, but they seemed to be reasonable about what they would be looking for as "proof" that we already put some investment into the plane.