The Customer
Start-Up Charter Company & Flight School
The Challenge
- A start up charter company and flight school. The owner added a new CJ3+ & the Flight school added two Diamonds Piston 62’s and 40NG’s trainers to start this operation.
- The start up company had not even completed a full year of financial statements.
- We typically need 3 full years of financial statements to preview a deal for credit.
- The company was essentially pre revenue company.
Done Deal.
- Originally the client was not familiar with us but knew the names and owners of several of the Charter/Management companies who FNC’s Aviation division has helped grow over the years.
- Over the years Rob Polichetti and First National Capitals Aviation Finaning division, has closed a dozen fleet deals for charter and management operators.
- We utilized an existing corporate guarantee from the owners Large Nationally recognized service company to help us out during the underwriting process.
- Our credit team worked directly with Textron on the new delivery, keeping the process seamless for the client.
- The Customers will continue utilizing FNC’s capital to grow their fleet.
Business Cycle Volatility
Wider credit appetite for companies in all phases of the business cycle.
