Should I get an approval on a loan before I look for an aircraft?
Yes, a pre-approval gives you the security that you can finance the plane you want once you find it.

How long does it take to get approved for the aircraft loan?
Once we have the completed application package, we can generally get the loan approved the same day.

Can I buy a plane in my business’s name?
Yes, many aircraft are purchased by businesses. Generally, we ask the principals of the company to guarantee the loan. “C” corporations, Subchapter S Corporations and Limited Liability Companies can purchase the aircraft.

How do I know the title is clear?
NAMAF orders a title search on used aircraft to insure that the title is clear.

What are the general steps involved in financing?

• An application and all required information is submitted to NAMAF for approval of the loan
• If financing a new aircraft- sales contract is remitted to NAMAF
• If financing a used aircraft – prepurchase inspection performed: title search ordered for used aircraft
• Insurance arranged on aircraft with Lender clause
• Closing date determined, documents are sent via Overnight Delivery for customer execution
• Funding of loan and recording of documents with FAA

Who will I be dealing with for my loan?
A banker who is also a licensed pilot. Through our financing program you don’t have to work through a middleman, broker or dealer. As pilots, we understand your needs and will assist you at each step in the loan process.

Will my loan be sold?
We plan to service your loan and you can continue to deal with the person that made your loan.

May I borrow money for reasons other than an aircraft purchase?
Yes, we provide financing for a variety of reasons. Simply Contact Us for more information on other loan options.

Can I have partners in the aircraft?
Yes, loans to partnerships are available. Many customers have a partner to minimize the cost of flying.

How do I place a value on the plane I am looking to purchase or currently own?
We assist our customers in valuing their aircraft, contact us for more information.