Helicopter Financing & Insurance

Financing a helicopter is similar to financing property but the loan term is usually much shorter, with the average times being five to ten years with most loans.

It is important to work with a bank that is experienced in aircraft so they are comfortable with the transaction. Most small banks do not understand the aviation market. If you have a great relationship with your bank they may be comfortable with you and yet it is more likely that one of the specialized lending institutions will provide you with the best service when purchasing a helicopter.

Each institution will have specific requirements and most will require that you place a down payment of 10% - 20%. It is standard practice that you will need to provide your tax returns and current financial information.

Also consider that you will need to insure the helicopter for at least 100% - 111% of the loan value. Do consider insuring your helicopter for the replacement value by insuring the equity portion of your helicopter.

A few of the lending companies that understand helicopter loans are:

• Center Capital Corporation - Jim Pulie (203) 268-6446 direct, cell (203) 610-5838 or (866) 782-0001 toll free jpulie@centercapitalcorp.com
• First Source Bank - Rick Michalski cell (541) 389-5798 michalski@1stsource.com
• Bank of America 1-800-62-PLANE or(800) 627-5263
• Cessna Textron Financial
(866) CFC-LOAN or (866) 232-5626

Helicopter Insurance

In addition to financing your helicopter purchase, it is important to see if you are able to obtain insurance coverage on that particular aircraft. Potential buyers will often qualify for financing but are not able to get the loan because they are not insurable.

There are only a handful of insurance underwriting companies insuring the aviation industry and the agent or broker you elect to have shop your request should be professional and have good relationships with the underwriters and understand your needs and has solutions for getting you the best quotes and coverage. We recommend Pacific Coast Aviation Insurance Services.

It is important to have a quality insurance broker to protect you and your assets.

• Pacific Coast Aviation Insurance Services - Tim Hutter (760) 431-3998 tim@paccoastaviation.com
• Pacific Coast Aviation Insurance Services - Daren Humphries (949) 678-4706 daren@paccoastaviation.com