The Aircraft Owners and Pilots Association (AOPA) now offers special aircraft financing for flying clubs as a way to help new flying clubs acquire quality aircraft while aiding existing clubs that want to expand their fleets.
The AOPA Aviation Finance Co. has developed four finance options to fit the needs of both start-ups and well-established flying clubs.
“Flying clubs offer pilots of all skill levels the benefit of shared aircraft ownership and a ready-made community of like-minded aviators,” said Adam Meredith, president of AOPA Aviation Finance Co. “We’re excited to offer these new financing options to flying clubs, whether it’s just a couple of pilots with a single airplane or hundreds of pilots who fly a variety of aircraft. Every club will find something to like in our flying club financing packages.”
Several of those packages are tailored toward the needs of start-ups, including two that offer 15-year loan terms with interest rates ranging from 5% to 7% and down payments from 15% to 30%.
For established clubs, AOPA Finance offers a 10-year loan with no personal guarantee (higher down payment required).
AOPA’s flying club initiative aims to promote and support flying clubs to encourage and expand general aviation. Apart from special financing, flying club benefits include special insurance coverage, a flying-club finder tool and AOPA’s Guide to Starting a Flying Club.
“As the demand for affordable flying and a more-connected pilot community grows, AOPA’s flying club initiative is expanding to build up flying clubs in America,” said Kelby Ferwerda, manager of AOPA’s flying club initiative. “Flying clubs have been around as long as airplanes, but pilots today are realizing the efficiency, community and fun that clubs offer, and AOPA is committed to sustaining that tradition.”