In 1975, an engineer decided to start a small aircraft leasing business in Ohio to help others appreciate the joy of aviation. Now, 50 years later, Scope Aircraft Finance is an industry leader in providing aircraft loans in the turboprop and light jet markets.
Looking back, our organization has navigated a lot in the last 50 years—from recessions (both normal and “Great”) to pandemics. We’ve learned how to navigate the good times and bad.
I share this because I think it’s important to consider the organization's history and experience when financing your next aircraft purchase.
If you do a quick Google search (or do we say “ask ChatGPT” now?), you’ll find there are several aircraft lenders in the industry who also share a long history of funding aircraft loans.
There is tremendous value in working with a lender who “gets it.”
What does “gets it” mean?
In honor of our 50th anniversary, here are five examples of how a lender might demonstrate they “get it”:
- The lender asks questions about your plans for aircraft ownership and works to build a loan structure that makes sense for both borrower and lender.
‍ - The lender acts with urgency to serve your needs as an applicant and borrower.
‍ - The lender communicates regularly throughout the underwriting, approval, and closing process.
‍ - The lender understands phrases like “the FAA in Oklahoma City” or “this aircraft qualifies for the International Registry.”
‍ - The lender demonstrates accountability for getting the job done right the first time.
As we continue to navigate the rush to year-end, and financing is of consideration for your purchase, reflect on these examples of what demonstrates an experienced lender who “gets it.”
In the end, it’s your aircraft purchase and you should work with people you want to work with.
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