HNW individual that owned multiple skilled nursing facilities in the Northeast part of the US.
- This individual wanted to buy a Gulfstream G550 but would not fly it himself.
- Instead, the plane would be used for charter and charity flights all around the world.
- The borrower did not have a company that could be underwritten in a traditional sense, so this deal required a lot of out-of-the-box thinking and hard work to underwrite an individual with extremely complex tax returns and statements.
- First National took the time to understand the borrower and his cash flow and assets –keeping their eyes on the horizon and not allowing the “turbulence” of the deal to interfere.”
- In addition, First National understands the value of the working plane as a business and a charity.