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Financing a kitplane

  1. Does anyone here have any experience with financing a kitplane? I have a project underway, but I work faster than I can save up the spare cash to buy the rest of the kit, so I was thinking of getting a loan so I can just purchase the whole shebang at once. Are there any particular financial institutions I should take a look at, or should I just try my local bank? Thanks.
     
  2. There's a bank that specializes in financing sailplanes. A kit plane isn't a sailplane but they at least have experiance with aircraft. I can't remember the name but I've seen it on the internet when I was looking at buying a glider. Maybe SSA.org, or one of the other sailplane websites. Other than that you may have to dig into a home equity loan or something. Most banks won't touch airplanes.
     
  3. There are banks that specialize in financing airplanes and some kitplanes. Talk to the kit manufacturer. They will have a line on who will finance their kits. It is in the kit manufacturer's vested interested to have contacts like that lined up so people can buy their kits.
     
  4. Thanks for the tips guys. I'll have to check that out.