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Beacon Airplane Financing:

General Loan Question FAQs

If you don't find your airplane loan or aircraft finance questions answered here please contact us.


General Questions

Q: Does Beacon Aero Credit participate in trade shows?
A: Yes, please plan to visit us at Sun n Fun this April.
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Q: When you do an escrow account for a buyer, the buyer puts the money into the escrow account, does the bill of sale, etc. and the seller provides...what? And when the contract is complete, how is the money transferred to the seller? Isn't it a violation of privacy laws to transmit, by phone or email, one's account number, bank name and routing numbers? How is this done?
A: Rebecca, Generally, Beacon Credit does not act as an escrow agent with respect to loan closings. We disburse against any known liens against the collateral, the remainder of the loan proceeds are remitted to the seller with the borrowers' written permission. If you have any additional questins please contact one of our finance specialists at 888-656-9400. Thank you for contacting us with your airplane finance question.
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Q: If your company granted me a loan for a plane would I be able to take the plane to Europe while I am still paying on the loan?
A: Jason, I wanted to follow up with you regarding your question about taking your plane to Europe. After speaking with all of our aircraft lenders we have determined that only a few lenders will allow your aircraft to be taken to Cananda while you are paying on your loan. No one will allow you to take the plane to Europe. Again thank you for your question on airplane financing. Jason, Thank you for contacting Beacon Aero Credit with your airplane loan question. To be honest with you I do not currently know the answer but I will find out for you and get back with you shorthly. In the mean time if you prefer you can contact our Airplane loan specialist Mark Freeman at 888-656-9400 for fuuther assistance.
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Q: I would like to learn more about leaseback and I would like to see a typical contract if you have one... I am looking to purchase a 2006 Cirrus and perhaps a 2004 Piper Arrow and would be looking for financing as well... Thanks!
A: Tom, I am sorry but we do not offer a leaseback program.
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Q: Greetings, I am interested in purchasing a late 70s or early 80s Mooney M20C for around 50-65,000. I have 10% to put down. My wife and I are in ministry and over the last few years it has grown very fast. We do a lot of regional travel. My brother is an AMP and will maintain and pilot the aircraft. My credit score is just over 640. By the loan Calculator and adding a couple hundred dollars on top, I can do this. However, I only have proof of my current amount of income for 2007. My wife the Co-signer does not have but $400mo provable income. Total (provable) Monthly income is 3400.00mo, bills are 1800.00mo Total income with other incomes Total: 4,100mo I could pay cash for this aircraft through our ministry, but could face scurtiny so I have decided to purchase it myself if it is possible. Is this Possible?

A: Douglas, Thank you for your interest in aircraft financing. I will have one of our loan specialists call you today to discuss your situation in more detail.
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Q: I purchased a 1975 Cessna 180 in August of '07. I purchased the aircraft outright. It's current market value is about 130K. I was wondering if it is still possible to finance a portion of the aircraft, perhaps 50K or so. Regards, Tim, East Haddam, CT
A: Tim, I will have one of our finance specialists call you and discuss you financing needs in more detail. Thanks for contacting us.
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Q: Hi, i'm looking for an aircraft lender to help. Not showing any income for 06 in order to erase capital gains from 05. 07 returns not filed yet. Lender on my first airplane can't help. Hoping you maybe can. Noel Hudson
A: Noel, Thank you for contacting us with your airplane loan question. One of our aircraft finance specialists will call you at the number you listed in your e-mail to see if we can help you with your current aircraft financing needs. In the mean time feel free to complete our secure on line loan application at no cost to you.
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Q: my question is do you fund the big jumbo jets? quick quote on loan?
A: Monty, Currently we do not have the funding capabilities to fund Jumbo Jets.
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Q: Hello - we will closing on a 1986 Piper Archer II today. We are paying cash, but want to know our options for taking a loan out to repay ourselves, and have our LLC have a loan on the aircraft. The aircraft quote link was not working for us, as it wanted to know current terms, and monthly payment, etc... The preferred method of contact is email, but call if you need more details. We would like to finance approx $50,000.00 the aircraft purchase price + tax is approx $82000.00 Thanks for looking into this - Eamon
A: Eamon, Somone will call you shorthly to discuss your loan request. Thanks for contacting us with your question. Thanks.
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