Applying Loan AirFleet Capital A Outline · 2020. 5. 27. · AirFleet Capital, Inc. Virginia...

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AirFleet Capital, Inc. Virginia Arizona Georgia 800.390.4324 HOW TO FINANCE AN AIRCRAFT Applying for a Loan through AirFleet Capital A StepbyStep Outline Forward your Application and supporting information to us via: AirFleet's Secure Portal "Apply For A Loan: http://www.airfleetcapital.com/apply-for-an-aviation-loan/ Fax: 703.777.3854 (converts to secure, electronic file) Overnight/Mail: AirFleet Capital, 1725 E. Ryan Road, Suite 5, Chandler, AZ 85286 Upon receipt of your application, we will contact you to confirm receipt. After our initial review, we may contact you with questions that arise and to request any missing items. At completion of the underwriting, AirFleet will issue a formal Approval Letter with the rates/terms and any additional conditions or items needed prior to closing. Step 1: Preparing your Application Package Step 2: Submitting your Application Package Step 3: The Underwriting Process Our goal is to provide you with the fastest possible turnaround and we need your help to accomplish this. We will need a complete application package with all of the requested detail and supporting financial documents as listed below: Please note the information we need in order to complete our underwriting: You / Guarantor / Co-Borrower Business(es) you Own Anticipated Turnaround Time: Individual Buyer Small Business/Sole Proprietorship Large/Multiple Business Buyer 1 – 2 Business Days 2 – 3 Business Days 2 – 4 Business Days for loans below $2Million 5 – 7 Business Days for loans above $2Million 7.8.2014 o Application and Personal Financial Statement (PFS). Signatures /dates needed at the bottom of each form. You may also provide your own PFS in lieu of our template. o If your credit reports are frozen / locked you will need to unlock all of them for 48 - 72 hours. o Most recent cash, brokerage, and retirement account statements (include all pages showing name, date and balances) o 2 Years Federal Tax Returns including schedules, W-2s and K-1s. 3 Years for loans $1Million+ o Current Paystub o IDs - driver license (front and back) and either pilot certificate or passport o Aircraft Specification or link to online listing All information listed to the LEFT (we require a personal guaranty therefore personal information is required) PLUS: o 2 Years Federal Tax Returns including schedules and K-1s. 3 Years for loans $1Million+ o Interim Financials (P&L and Balance Sheet) management-prepared or CPA-prepared o Verification of Corporate liquid assets o If available, 2 Years CPA-Audited or Reviewed financials with notes. 3 Years for loans $1Million+

Transcript of Applying Loan AirFleet Capital A Outline · 2020. 5. 27. · AirFleet Capital, Inc. Virginia...

  • AirFleet Capital, Inc.  Virginia              Arizona               Georgia  800.390.4324 

    HOW TO FINANCE AN AIRCRAFTApplying for a Loan through AirFleet Capital

    A Step‐by‐Step Outline 

      Forward  your Application and supporting information to us via: 

    • AirFleet's Secure Portal "Apply For A Loan:http://www.airfleetcapital.com/apply-for-an-aviation-loan/

    • Fax:  703.777.3854 (converts to secure, electronic file)• Overnight/Mail:  AirFleet Capital, 1725 E. Ryan Road, Suite 5, Chandler, AZ 85286

    • Upon receipt of your application, we will contact you to confirm receipt.• After our initial review, we may contact you with questions that arise and to request any

    missing items.• At completion of the underwriting, AirFleet will issue a formal Approval Letter with the

    rates/terms and any additional conditions or items needed prior to closing.

    Step 1:  Preparing your  Application  Package

    Step 2:  Submitting your Application Package

    Step 3:  The 

    Underwriting Process

    Our goal is to provide you with the fastest possible turnaround and we need your help to accomplish this. We will need a complete application package with all of the requested detail and supporting financial documents as listed below:

     Please note the information we need in order to complete our underwriting: from: You / Guarantor / Co-Borrower Business(es) you Own 

    Anticipated Turn‐around Time: 

    Individual Buyer  Small Business/Sole Proprietorship Large/Multiple Business Buyer 

    1 – 2 Business Days  2 – 3 Business Days  2 – 4 Business Days for loans below $2Million 5 – 7 Business Days for loans above $2Million

    7.8.2014 

    o Application and Personal Financial Statement (PFS).Signatures /dates needed at the bottom of each form.You may also provide your own PFS in lieu of our template.

    o If your credit reports are frozen / locked you will need tounlock all of them for 48 - 72 hours.

    o Most recent cash, brokerage, and retirement accountstatements (include all pages showing name, date andbalances)

    o 2 Years Federal Tax Returns including schedules, W-2s andK-1s. 3 Years for loans $1Million+

    o Current Paystubo IDs - driver license (front and back) and either pilot

    certificate or passporto Aircraft Specification or link to online listing

    All information listed to the LEFT (we require a personal guaranty therefore personal information is required) PLUS:

    o 2 Years Federal Tax Returns including schedules andK-1s. 3 Years for loans $1Million+

    o Interim Financials (P&L and Balance Sheet)management-prepared or CPA-prepared

    o Verification of Corporate liquid assets

    o If available, 2 Years CPA-Audited or Reviewedfinancials with notes. 3 Years for loans $1Million+

  • AIRCRAFT CREDIT APPLICATION & PERSONAL FINANCIAL STATEMENT

    PERSONAL INFORMATION APPLICANT / GUARANTOR CO-APPLICANT / GUARANTOR

    First Name First Name

    Are you a U.S. citizen? Yes No

    Date of Birth*: Are you a U.S. citizen? Yes No

    Date of Birth*:

    Social Security Number*: Home Phone Number: Social Security Number*: Home Phone Number:

    e-mail: Cell Phone Number: e-mail: Cell Phone Number:

    Home address*: Home address*:

    Home city, state, ZIP*: Home city, state, ZIP*:

    Check one: Own Rent

    Monthly rent or mortgage payment: $

    Check one: Own Rent

    Monthly rent or mortgage payment: $

    Number of years at this address: Number of years at this address: *DISCLOSURE A: Federal law requires us to collect and verify this information. A Post Office Box will not suffice. We are required toobtain a street address.EMPLOYMENT INFORMATION Do you own your own business? Yes No

    Years at current position (if retired, date of retirement)?

    Do you own your own business? Yes No

    Years at current position (if retired, date of retirement)?

    Employer’s name: Employer’s name:

    Employer’s phone number: Employer’s phone number:

    Employer’s address: Employer’s address:

    Employer’s city, state, ZIP code: Employer’s city, state, ZIP code:

    Job title: Occupation: Job title: Occupation:

    Gross Income – Monthly:$ Gross Income – Monthly:$ Other income** Source: $ Per month $ Per year

    Other income** Source: $ Per month $ Per year

    ** DISCLOSURE B: Alimony, child support or separate maintenance income need not be revealed if you do not wish it considered as a basis for repayment. BUSINESS INFORMATION (Entities you own personally) Name of Business Complete Address Phone / Fax

    Fiscal Year End Product / Services Sold Web Page

    Number of Employees Federal Tax ID Number (EIN) State / Date of Incorporation

    Principals Name: % Ownership: Title:

    Page 1 of 2

    Aircraft Credit Application 1725 E. Ryan Road ♦ Suite 5 ♦ Chandler AZ 85286

    Tel 800.390.4324 ♦ Fax 703.777.3854 www.AirFleetCapital.com

    Spouse: Applicant’s spouse must complete the CO-APPLICANT section if applicant is relying on spouse’s income as a basis for repayment of the credit, or if the applicant resides in Arizona, California, Hawaii, Idaho, Louisiana, Michigan, Nebraska, Nevada, New Mexico, Oklahoma, Oregon, Texas, or Washington.

    Middle Last Name Suffix Middle Last Name Suffix

  • APPLICANT / CO-APPLICANT Are either of you obligated to make alimony, child support or separation maintenance payments? Are there any unsatisfied judgments against either of you?

    Do either of you have any contingent liabilities?

    Have either of you ever declared bankruptcy?

    Yes No If yes, amount per month?

    Yes No If yes, to whom owed?

    Yes No If yes, please describe:

    Yes No If yes, please give date:

    DETAILS Aircraft will be: Pre-Approval Refinance New Purchase Used Purchase Year Make Model FAA N# S/N

    Last Annual Date TTAF RE SMOH LE SMOH Cash Down: Trade: Terms Desired (yrs): Selling Price:

    $ $ $ Loan Amount: $

    Estimated Closing Date Seller Name/Phone number: Previous aircraft / Current aircraft financed by: Type of Pilot Certificate: Student Private Commercial ATP None Current Hrs / Ratings / Endorsements: Do you have previous aircraft ownership experience?

    Yes No If yes, provide details:

    Aircraft will be registered to: Individual Co-ownership Partnership Corporation LLC Other Name of registration entity: Tax ID Number: Aircraft will be based at: How will aircraft be utilized?

    Part 135(charter / leaseback / flying club /flight training)

    DISCLOSURES: Consent to Use of a Consumer Credit Report: The undersigned individual(s) recognize that personal credit history may be a factor in the evaluation of the credit history or credit worthiness of the applicant or in the evaluation of his or her personal guarantee of the obligations of the credit applicant (if applicable). Further, a condition of credit approval may include their guarantee, and the undersigned hereby instruct and authorize AirFleet Capital, Inc. and its lenders, including all subsidiaries thereof (collectively "AFC") to obtain and use consumer credit reports pertaining to each individual's credit history and/or credit worthiness from any credit reporting agency from which AFC receives such reports, in connection with the application for the extension of credit by AFC. In connection with any such application for credit, the undersigned further agrees that AFC's permission to obtain a consumer credit report on the undersigned and any guarantor shall be ongoing and shall relate not only to the evaluation and/or extension of the credit requested, but also for purposes of reviewing the account. Increasing the credit line on the account (if applicable), taking collection action on the account, and for any legitimate business purpose associated with the account as may be needed from time to time. I/We further authorize AFC to give data contained in this application and credit information about any guarantor to its subsidiaries, affiliates and agents. I/We can prevent AFC from sharing such information, other than information about AFC's transactions, experience with guarantor, or as permitted by law, by calling the creditor at the phone number listed on this application.Release of Credit Information: Authorization is hereby granted to all credit reporting agencies, banks, and all other companies to release credit and financial information to AFC from time to time, which AFC deems necessary to establish and maintain credit. I/We further authorize any company or individual from whom I/We may have obtained or requested credit to furnish AFC with the details of that transaction. I/We agree to provide current financial information upon request, in a form acceptable to AFC.Equal Credit Opportunity Act Notice: AFC is an Equal Opportunity Lender. The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, handicap, marital status, age (provided that applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is Federal Trade Commission.

    Request for Credit – – Please read below, check the appropriate box, sign and date. I/We certify that the information herein and any other information submitted at any other time to AFC has been carefully read and is true, correct and complete. I/We authorize AFC and its lenders: (i) to review my/our credit and employment histories and any other information in order to process this application, service my/our account, and manage its relationship with me/(us, and (ii) to communicate with others, to the extent permitted by law, such information and its experience with me. I/We are submitting all such information with the intent to secure financing and understand that lenders rely on this information in evaluating and granting the credit requested.

    I am requesting credit as an individual in my own name and am relying on my own income and assets and not the income and assets of another person.

    I am requesting credit jointly or an account that I will use with another person. We intend to apply for joint credit.Signature of Applicant Date Signature of Co-Applicant Date

    Page 2 of 2

    Sport

    How did you hear about us?FAA Pt 91 (personal and/or use within your own business)

    Pleasure

    nsweeneyLine

  • IF ADDITIONAL INFORMATION OR FINANCIAL STATEMENTS ARE USED, PLEASE SIGN, DATE, AND ATTACH THEM TO THIS FORM.

    ASSETS In Whole Dollars LIABILITIES In Whole Dollars

    Cash, Checking, Savings, Money Market, etc (Sched 1) Real Estate Mortgages -- Primary Residence (Sched 4)

    Stocks, Bonds, CDs, etc ( Marketable Securities) (Sched 2) Real Estate Mortgages -- All Other (Sched 4)

    Retirement/Educational–401k, 403b, IRA, 529 etc (Sched 3) Notes Payable to Banks–Secured (Sched 5)

    Real Estate – Primary Residence (Sched 4) Notes Payable to Banks–Unsecured (Sched 5)

    Real Estate – All Other (Sched 4) Unpaid Taxes/ Judgments/ Liens

    Life Insurance CASH value Other Debts / Accounts and Bills Due (Sched 5)

    Non-Marketable Securities/ Business value (Sched 6) – Entities you own personally, not publicly traded

    Accounts & Notes Receivable (Sched 7)

    Other Assets – Itemize (i.e. cars, furnishings)

    TOTAL LIABILITIES

    TOTAL ASSETS NET WORTH (Subtract total Liabilities from Total Assets)

    SCHEDULE 1 – CASH, CHECKING, SAVINGS, MONEY MARKET – attach recent statements

    Financial Institution Account Type In Name of Held in Trust? Current Balance

    Total $ SCHEDULE 2 – STOCKS, BONDS, CDs, etc (MARKETABLE SECURITIES) – attach recent statements

    Account Name In Name of Held in Trust? Current Market

    Value

    Total $ SCHEDULE 3 – RETIREMENT/EDUCATIONAL ACCOUNTS (401k, 403b, SEP, IRA, 529, etc) - attach recent statements

    Account Name In Name of Held in Trust? Current Market

    Value

    Page 1 of 2 Total $

    PERSONAL FINANCIAL STATEMENT 1725 E. Ryan Road ♦ Suite 5 ♦ Chandler AZ 85286

    Tel 800.390.4324 ♦ Fax 703.777.3854 www.AirFleetCapital.com

  • SCHEDULE 4 – REAL ESTATE OWNED

    Address Titled To Held in Trust?

    Rental or Commercial Property?

    Year Acquired

    Original Purchase

    Price

    Market Value

    Monthly Payment Balance Due

    Primary Residence:

    Total $ SCHEDULE 5 – SECURED & UNSECURED LOANS

    Name of Creditor Description Monthly Payment Balance Due

    Total $ SCHEDULE 6 – NON-MARKETABLE SECURITIES / CORPORATIONS & PARTNERSHIPS (businesses owned by you)

    Name & Description In Name of % Owned Held in Trust? Market Value

    Total $ SCHEDULE 7 – ACCOUNTS & NOTES RECEIVABLE (money owed to you by others)

    Description of Asset or Property Name of Debtor Maturity Date Monthly Payment Balance Due

    Page 2 of 2 Total $

    Applicant: Date:

    Co-Applicant: Date:

    APPLICANTEMPLOYMENT INFORMATIONBUSINESS INFORMATION (Entities you own personally)APPLICANT / CO-APPLICANTDETAILS

    Date of Birth: Date of Birth_2: Social Security Number: Home Phone Number: Social Security Number_2: Home Phone Number_2: email: Cell Phone Number: email_2: Cell Phone Number_2: Home address: Home address_2: Home city state ZIP: Home city state ZIP_2: Number of years at this address: Number of years at this address_2: Years at current position if retired date of retirement: Years at current position if retired date of retirement_2: Employers name: Employers name_2: Employers phone number: Employers phone number_2: Employers address: Employers address_2: Employers city state ZIP code: Employers city state ZIP code_2: Job title: Occupation: Job title_2: Occupation_2: Gross Income Monthly: Gross Income Monthly_2: Name of Business: Address: Phone Fax: Fiscal Year End: Product Services Sold: Web Page: Number of Employees: Federal Tax ID Number EIN: State Date of Incorporation: Principals NameRow1: OwnershipRow1: TitleRow1: Principals NameRow2: OwnershipRow2: TitleRow2: Principals NameRow3: OwnershipRow3: TitleRow3: Principals NameRow4: OwnershipRow4: TitleRow4: If yes amount per month: If yes to whom owed: If yes please describe: If yes please give date: Year: Make: Model: FAA N: SN: Last Annual Date: TTAF: RE SMOH: LE SMOH: Selling Price: Trade: Loan Amount: Terms Desired yrs: Seller NamePhone number: Previous aircraft Current aircraft financed by: Current Hrs Ratings Endorsements: Do you have previous aircraft ownership experience Yes No If yes provide details: Name of registration entity: Tax ID Number: Aircraft will be based at: How did you hear about us: FAA Part 91 Business personal: OffPleasure: OffPart 135 commercial leaseback flying: OffDate: Signature of CoApplicant: Date_2: Financial InstitutionRow1: Account TypeRow1: In Name ofRow1: Held in TrustRow1: Current BalanceRow1: Financial InstitutionRow2: Account TypeRow2: In Name ofRow2: Held in TrustRow2: Current BalanceRow2: Financial InstitutionRow3: Account TypeRow3: In Name ofRow3: Held in TrustRow3: Current BalanceRow3: Financial InstitutionRow4: Account TypeRow4: In Name ofRow4: Held in TrustRow4: Current BalanceRow4: Financial InstitutionRow5: Account TypeRow5: In Name ofRow5: Held in TrustRow5: Current BalanceRow5: Account NameRow1: In Name ofRow1_2: Held in TrustRow1_2: Current Market ValueRow1: Account NameRow2: In Name ofRow2_2: Held in TrustRow2_2: Current Market ValueRow2: Account NameRow3: In Name ofRow3_2: Held in TrustRow3_2: Current Market ValueRow3: Account NameRow4: In Name ofRow4_2: Held in TrustRow4_2: Current Market ValueRow4: Account NameRow1_2: In Name ofRow1_3: Held in TrustRow1_3: Current Market ValueRow1_2: Account NameRow2_2: In Name ofRow2_3: Held in TrustRow2_3: Current Market ValueRow2_2: Account NameRow3_2: In Name ofRow3_3: Held in TrustRow3_3: Current Market ValueRow3_2: Titled ToPrimary Residence: Held in TrustPrimary Residence: Rental or Commercial PropertyPrimary Residence: Year AcquiredPrimary Residence: Original Purchase PricePrimary Residence: Market ValuePrimary Residence: Monthly PaymentPrimary Residence: Balance DuePrimary Residence: Titled ToRow2: Held in TrustRow2_4: Rental or Commercial PropertyRow2: Year AcquiredRow2: Original Purchase PriceRow2: Market ValueRow2: Monthly PaymentRow2: Balance DueRow2: Primary ResidenceRow2: Titled ToRow3: Held in TrustRow3_4: Rental or Commercial PropertyRow3: Year AcquiredRow3: Original Purchase PriceRow3: Market ValueRow3: Monthly PaymentRow3: Balance DueRow3: Primary ResidenceRow3: Titled ToRow4: Held in TrustRow4_3: Rental or Commercial PropertyRow4: Year AcquiredRow4: Original Purchase PriceRow4: Market ValueRow4: Monthly PaymentRow4: Balance DueRow4: Primary ResidenceRow4: Titled ToRow5: Held in TrustRow5_2: Rental or Commercial PropertyRow5: Year AcquiredRow5: Original Purchase PriceRow5: Market ValueRow5: Monthly PaymentRow5: Balance DueRow5: Primary ResidenceRow5: Titled ToRow6: Held in TrustRow6: Rental or Commercial PropertyRow6: Year AcquiredRow6: Original Purchase PriceRow6: Market ValueRow6: Monthly PaymentRow6: Balance DueRow6: Primary ResidenceRow6: Titled ToRow7: Held in TrustRow7: Rental or Commercial PropertyRow7: Year AcquiredRow7: Original Purchase PriceRow7: Market ValueRow7: Monthly PaymentRow7: Balance DueRow7: Primary ResidenceRow7: Titled ToRow8: Held in TrustRow8: Rental or Commercial PropertyRow8: Year AcquiredRow8: Original Purchase PriceRow8: Market ValueRow8: Monthly PaymentRow8: Balance DueRow8: Name of CreditorRow1: DescriptionRow1: Monthly PaymentRow1: Balance DueRow1: Name of CreditorRow2: DescriptionRow2: Monthly PaymentRow2_2: Balance DueRow2_2: Name of CreditorRow3: DescriptionRow3: Monthly PaymentRow3_2: Balance DueRow3_2: Name of CreditorRow4: DescriptionRow4: Monthly PaymentRow4_2: Balance DueRow4_2: Name of CreditorRow5: DescriptionRow5: Monthly PaymentRow5_2: Balance DueRow5_2: Name of CreditorRow6: DescriptionRow6: Monthly PaymentRow6_2: Balance DueRow6_2: Name of CreditorRow7: DescriptionRow7: Monthly PaymentRow7_2: Balance DueRow7_2: Name DescriptionRow1: In Name ofRow1_4: OwnedRow1: Held in TrustRow1_4: Market ValueRow1: Name DescriptionRow2: In Name ofRow2_4: OwnedRow2: Held in TrustRow2_5: Market ValueRow2_2: Name DescriptionRow3: In Name ofRow3_4: OwnedRow3: Held in TrustRow3_5: Market ValueRow3_2: Name DescriptionRow4: In Name ofRow4_3: OwnedRow4: Held in TrustRow4_4: Market ValueRow4_2: Description of Asset or PropertyRow1: Name of DebtorRow1: Maturity DateRow1: Monthly PaymentRow1_2: Balance DueRow1_2: Description of Asset or PropertyRow2: Name of DebtorRow2: Maturity DateRow2: Monthly PaymentRow2_3: Balance DueRow2_3: Description of Asset or PropertyRow3: Name of DebtorRow3: Maturity DateRow3: Monthly PaymentRow3_3: Balance DueRow3_3: Description of Asset or PropertyRow4: Name of DebtorRow4: Maturity DateRow4: Monthly PaymentRow4_3: Balance DueRow4_3: Applicant: Date_3: CoApplicant: Date_4: Rent Mortgage: Rent Mortgage 2: Signature of Applicant: Asset2 Other Assets Itemize ie cars furnishingsRow2: Asset2 Other Assets Itemize ie cars furnishingsRow1: TOTAL LIABILITIES: 0TOTAL ASSETS: 0NET WORTH: 0Cash down: Estimated Closing Date: Other Income Source: Other income per month: Other income per yr: Other income source_2: Other income per month_2: Other income per yr_2: Citizen: OffCitizen2: OffOwnRent: OffOwnRent2: OffOwn Business: OffOwn Business2: OffAlimony: OffJudgments: OffContingent liabilities: OffBankruptcy: OffLoan is: OffPilot Certificate: OffPrior Ownership: OffAircraft reg'd to: OffCredit request: OffPrimary ResidenceRow1: Primary ResidenceRow1a: Liability Other Debts: Liability2 Other Debts Schd 7: Liability2 Other 1a: Liability Other 1: L1 Mortgages Primary Res Sched 4: L2 Mortgages All Other Sched 4: L3 Notes Pay Secured Sched 5: L4 Notes Pay Unsecured Sched 5: L5 Unpaid Taxes Judgments Liens: L6 Other Debts Sched 5: L7 Non Marketables: L8 Accts Rec Sched 7_2: L9 Other1: L10 other 1a: A1 Cash Checking Savings Money Market etc Sched 1: A2 Stocks Bonds CDs etc Marketable Securities Sched 2: A3 RetirementEducational401k 403b IRA 529 etc Sched 3: A4 Real Estate Primary Residence Sched 4: A5 Real Estate All Other Sched 4: A6 Life Insurance CASH value: A7 NonMarketable Securities Business value Sched 6 Entities you own personally not publicly traded: A8 Accounts Notes Receivable Sched 7: A9 Other Assets Itemize ie cars furnishings: A10: A11: CASH BalanceTotal: 0STOCKS ValueTotal: 0RETIREMENT Value Total: 0RE Original Purchase PriceTotal: 0RE Market ValueTotal: 0RE Monthly PaymentTotal: 0RE Balance DueTotal: 0LOANS Balance DueTotal_2: 0NON-MARKETABLE ValueTotal_2: 0ACCTS REC Monthly Payment Total: 0ACCTS REC Balance DuePage 2 of 2 Total: 0LOANS Monthly PaymentTotal_2: 0First Name: Middle Name: Last Name: Suffix: Co app Name: Co app Middle Name: Co app Last Name: Co app Suffix: