You wouldn't think about booking a real estate loan without ensuring that the lien was secured would you?  Of course not!  So why would you treat aircraft loans any differently?

Go ahead and admit it.  You are probably one of the countless individuals in the banking industry who are intimidated by the assortment of forms needed in the normal course of processing an aircraft loan.  You want to help your customer purchase that aircraft, but how do you make sense of the maze of paperwork and properly close the loan?  Who provides all the necessary forms?  What happens if the customer makes a change at the last minute?  What happens if there is a simple mistake in the aircraft documentation at closing?  How will you address title issues?  How familiar are you with the necessary paperwork needed to properly change aircraft ownership and successfully file a lien with the FAA?  If not completed correctly, the bank will not be able to properly secure their collateral.  If these questions are not addressed, these types of problems can be worth thousands or even millions of dollars to the bank and can take a considerable amount of time, money and resources to correct.  Who can you trust and is there anyone who can help you?  The assistance and security you need is single phone call away!

Plane Data, Inc. is uniquely qualified to help banks involved in aircraft financing.  Since 1992, Plane Data, Inc. has successfully evaluated and documented hundreds of aircraft of all types.  Now this expertise is expanding to include the services of a Closing Agent to more fully assist the banking industry take advantage of aircraft financing while eliminating the fear and confusion associated with the necessary aircraft related documents.

As a Closing Agent, Plane Data, Inc. works for the bank to ensure that all documents are properly signed by the appropriate parties and the necessary paperwork is filed with the FAA – but the service doesn’t stop there.  If a customer chooses the Total Assurance Package, Plane Data, Inc. is involved at the beginning of the lending process working to identify any title and evaluation issues thereby ensuring the bank is making the proper lending decisions and then continues to work with both the bank and the bank’s customers to ensure the proper forms and signatures are completed at the time of closing before the loan is booked.  After the closing, we continue to follow through by providing evidence of filing and recording along with a follow-up title search to the bank.  No one else comes close to this depth and breadth of service!

It is now possible for your bank to confidently engage in aircraft financing even if it is your first aircraft.  Drop us and email or call Plane Data, Inc. at 800-895-1382 for effective solutions that work.

How do All the Services Compare?

The typical title services provided by Plane Data, Inc. and its competitors presumes that the bank clearly understands the forms and paperwork needed to properly register and secure a lien against the aircraft.  This is often not the case.  The Closing Agent Service is more of a “hands on” approach working directly with the bank and the customer to supply all forms and verify completeness of documentation at the time of closing.  Here is how the services stack up.

* The Total Assurance Package provides a complete solution that includes all title services (title search, document filing, etc.), a Certified Appraisal Report (standard NAAA or USPAP report), and the Closing Agent Services (all forms necessary to transfer aircraft ownership and properly secure the bank’s lien plus a follow up title search to verify document recording with the FAA).  It is a Total Solution Package.