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PNC Aviation Finance Offers Asset-Based Corporate Aircraft Financing

PNC Aviation Finance is a leading provider of corporate aircraft finance and has a full menu of aircraft lending capabilities. Their solutions include asset-based and credit-based loans, leases, and dealer floor plans. Each product can be custom-tailored to meet the specific needs of an aircraft owner or purchaser. As a part of The PNC Financial Services Group (NYSE: PNC), the company has access to the broad array of financial solutions provided by one of the nation’s top financial institutions. They have developed aircraft loan products that will appeal to high net-worth individuals, entrepreneurs, and Fortune 500 companies. 

“Since we focus on aviation finance, our clients will work closely with professionals who specialize exclusively in corporate aircraft financing. They will enjoy the benefits of the simplest and quickest process available in the industry today,” says Wayne Starling, Senior Vice President and National Sales Manager for PNC Aviation Finance. “Our programs feature flexible structures at highly competitive interest rates that can be fixed, floating, or hybrid. We also offer up to 20-year amortization schedules designed to maximize cash flow.”

PNC Aviation Finance pioneered the asset-based loan, which allows buyers to acquire an aircraft without the normal hassle of financing. The asset-based program allows clients to finance without having to disclose their complete financial status. By removing the financial credit underwriting portion of the process, the steps for financing have become much more simplified.

“The asset-based loan minimizes time and effort for the aircraft buyer by requiring just a simple application,” Starling continues. “We have eliminated the annual requirement to submit updated financials, commonly known as financial covenants, to lessen the burden on our clients. We also offer no personal or corporate guaranty options, which eliminate contingent liability on a customer’s financial statement. This is something that could potentially impact their borrowing ability to grow their business. We also do not require an annual review of borrowers’ loan-to-value, which in some cases has resulted in borrowers having to pay down their loan balance to stay in compliance,” Starling says.

PNC Aviation Finance has 10 aircraft finance officers located across theUnited StatesandCanadato provide quick response to aircraft buyers’ needs. The company is a member of the National Aircraft Resale Association (NARA).  

“Being a part of NARA is a huge benefit to our business,” Starling says. “It provides us the opportunity for networking with some of the most successful people and businesses in the aircraft industry. It also gives us access to up-to-date information on the aircraft industry, which is invaluable to our business.  The industry is such a close, tight-knit community and NARA provides access to all the great people and information that have helped us become one of the top aircraft lenders in the U.S.”

For more information about PNC Aviation Finance, visit their website at www.pncaviationfinance.com or call 888-339-2834.

Posted on: July 24, 2012