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Aircraft Financing | Closing Process

Closing Process2024-07-11T18:32:50+00:00

Prior to your loan approval, you need to learn about our aircraft financing process, if you are looking for helicopter loans or jet loans, read this important information. Once your loan is approved there are several steps that will occur prior to closing and getting you flying. Below is a helpful outline so you know what to expect:

Step 1:

Congratulations! You Are Approved

We will communicate the final terms of the approval and then email you a formal approval letter. Review your approval to confirm the loan terms and review any items/stipulations that need to be taken care of prior to closing.

Step 2:

When You Have A Date For Closing

  1. As soon as you know the date you’d like to close, contact AirFleet to let us know.
  2. A closing specialist will be assigned to you if this has not already happened.
  3. Forward the insurance information included with the approval email to your insurance agent.
  4. If applicable, forward any registration entity documents (ie, LLC Articles of Organization & Operating Agreement) to your closing specialist at AirFleet.
  5. Your closing specialist will call you to confirm all of the details, go over the documentation process and any outstanding items needed to prepare documents and close your loan.
  6. We will work with you and any other parties, such as your insurance agent, FAA escrow company, and seller, to coordinate all of the moving parts.
Step 3:

Your Closing Documents Are On The Way

  1. Loan documents will be sent to you via email or FedEx.
  2. Upon receipt, you will need to review the documents and get them signed and notarized on all pages as instructed.
  3. Send the original signed/notarized documents back to AirFleet /escrow company as instructed.
Step 4:

Your Loan Documents Are Under Review

Once AirFleet /escrow company receives your documents back along with all other items needed to close (listed on your approval letter), we will be able to fund the loan upon your authorization.

Step 5:

Congratulations! Your Aircraft Loan Has Funded!

  1. Upon closing, we will email you a closing package that details all of the terms and contact information for your loan along with a copy of the documents.
  2. We will also email you a post-closing title search typically 30-90 days after closing confirming that your aircraft has been accurately recorded at the FAA.
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