Expert: LSA Financing Is Tight, But Still Available
Among the seminars available for those attending the U.S. Sport Aviation Expo in Sebring, Fla., this week, is one about how to find financing for your aircraft. Pilots may be ready and eager to buy, but with the tightening financial markets, can they get the loan they need? Tammy Hand, founder of Aviation Capital Experts, says that it's definitely harder than it used to be, but most of those who need a loan should be able to find one. "You need to have relatively good credit, good debt-to-income.... the numbers need to work out," she told AVweb in a podcast interview from Sebring on Thursday. "What used to be the norm, 10 percent down, with 20 years financing, is now more the exception. Now you're seeing 20 percent down and 15 years is more typical."
Hand is a pilot, and lives with her husband, who is also a pilot and a banker, at a residential airpark in New Jersey. They own a Beechcraft and a Cameron hot-air balloon.