New Lancair NAFCO financing agreement
May 11, 2011
Lancair International announced today that, in conjunction with NAFCO – National Aircraft Finance Company, they are now able to offer financing for their Evolution Turboprop kit. The economic downturn had severely limited aircraft financing sources, especially in the experimental category and this is certainly welcome news. The Evolution kits, as well as new Pratt and Whitney engines are eligible for 70% financing under this program.Bill Leckie III, Vice President and Operations Manager for NAFCO explained that, “NAFCO has traditionally offered experimental category financing on insurable aircraft, and since the Evolution has proven to be insurable by the major companies, we’re now to place these loans with the banks.” Borrowers must be credit worthy, with high net worth. A minimum of 30% down will be required on 2 year loans with 15 year amortization at 8%. When the Evolution is completed and the Airworthiness Certificate is issued, the loans may be converted to a 12 year fixed 5.8% loan.
For more information contact Lancair Sales at 541-923-2244 or NAFCO at 800-999-3712.
Lancair International Inc, founded in 1984, is celebrating its 26th year selling the world’s most successful high performance piston and turbine kit aircraft. To date, the company has delivered over 2,000 kits. As testimony to their quality and design, Lancair aircraft have set a number of world speed records and have dominated the Sports Class at the Reno Air Races for several years. For more information on Lancair International Inc., visit www.lancair.com or call (541) 923-2244.