23 Jun 2025, 19:34 [ UTC - 5; DST ]
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Post subject: Re: Finance options for Mu2  Posted: 14 Apr 2024, 17:47 |
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Joined: 12/17/17
Posts: 35
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Company: Aqua-tots
Aircraft: Pa-27 Turbo
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Alan- if you don’t mind please reply with what you found as the resolution. If Dorr or some other bank works. We are looking at upgrading to an Mu2 or Commander this year as well.
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Post subject: Re: Finance options for Mu2 Posted: 14 Apr 2024, 19:42 |
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Joined: 12/22/07
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Company: Midwest Chemtrails, LLC
Location: KPTK (SE Michigan)
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Username Protected wrote: Contact Morgan Littell at Equity Bank in Wichita...........316-641-5080 I typed, so you don’t have to: Attachment: IMG_2046.jpeg
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Post subject: Re: Finance options for Mu2 Posted: 15 Apr 2024, 12:38 |
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Joined: 02/28/18
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Username Protected wrote: I've been trying to work out financing to purchase an Mu2 and it is proving exceedingly difficult. If it's any consolation, these aircraft are so cheap in part because financing is so hard to find. If anyone could throw a 75% LTV non-recourse loan onto one, the purchase prices would be higher. You see this across the aircraft and real estate world. Countries with poorly developed mortgage markets or high mortgage rates have vastly lower real estate prices. Ed
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Post subject: Re: Finance options for Mu2 Posted: 15 Apr 2024, 12:53 |
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Joined: 08/14/13
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Username Protected wrote: I've been trying to work out financing to purchase an Mu2 and it is proving exceedingly difficult. If it's any consolation, these aircraft are so cheap in part because financing is so hard to find. If anyone could throw a 75% LTV non-recourse loan onto one, the purchase prices would be higher. You see this across the aircraft and real estate world. Countries with poorly developed mortgage markets or high mortgage rates have vastly lower real estate prices. Ed
Exactly....if a bank likes the asset, then the market will like the asset
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Post subject: Re: Finance options for Mu2 Posted: 15 Apr 2024, 12:56 |
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Joined: 09/05/09
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Location: Raleigh, NC
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Try Daniel Steiner (he's a VP who is also a pilot). they offered terms on old warbirds, they seemed to understand the market. their terms were a little high, but not out of the realm of reasonable. we all will pay more to borrow on old airplanes, it's just a "use tax." tell him I sent you. Bank 1403 S. Roosevelt Ave. Burlington, IA 52601 319-753-2265 x 528 daniel.steiner@bank.bank.
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Post subject: Re: Finance options for Mu2 Posted: 15 Apr 2024, 14:47 |
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Joined: 10/04/12
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Location: KDPA
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https://www.lightstream.com/these people will give you a loan up to 100k with minimal paperwork. the rates are higher, but I have heard they are quick and easy to work with.
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Post subject: Re: Finance options for Mu2 Posted: 16 Apr 2024, 09:02 |
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Joined: 04/28/21
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Username Protected wrote: https://www.lightstream.com/
these people will give you a loan up to 100k with minimal paperwork. the rates are higher, but I have heard they are quick and easy to work with. LightStream is backed by Truist, so it is a real bank. It's effectively a categorized unsecured signatory loan, with same-day funding available. You *CAN* get more than 100k from them, but you have to have an existing relationship with them. I've used them for several things, and recommend them.
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