AOPA Expands Financing Options
AOPA is expanding its presence in the aircraft finance market with a new service for its members. The AOPA Finance Company is a brokerage that brings together borrowers and lenders to make getting money for airplanes and upgrades easier. Adam Meredith, who is heading up the new company, said in an interview with AVweb that AOPA has been helping members with financing for about 20 years but always through a single lender. The new company will deal with a multitude of lenders that have stuck with aircraft financing through the recession and are looking for new business.
By dealing with different lenders, the company can help match the aircraft owner's needs with the services and specialties of the financial institutions. That should make it easier for owners to get the financing they need, whether to buy a new airplane or upgrade their existing rides. On upgrades where there is no loan against the aircraft, it will be straightforward deal with a financing company that does those sorts of loans. Where there is money owing on the aircraft, refinancing packages that include the cost of the upgrades will be done. "We try to make it as easy as possible," said Meredith. "That's why we're here. We're here to help."