X-Virus-Scanned: clean according to Sophos on Logan.com Return-Path: Received: from p3plsmtpa07-06.prod.phx3.secureserver.net ([173.201.192.235] verified) by logan.com (CommuniGate Pro SMTP 6.0.8) with ESMTP id 6737402 for lml@lancaironline.net; Tue, 18 Feb 2014 06:47:34 -0500 Received-SPF: none receiver=logan.com; client-ip=173.201.192.235; envelope-from=hwasti@lm50.com Received: from [192.168.1.120] ([207.170.226.183]) by p3plsmtpa07-06.prod.phx3.secureserver.net with id Tnn01n00C3y2o9r01nn04G; Tue, 18 Feb 2014 04:47:01 -0700 X-Sender: hamid@lm50.com Message-ID: <5303482A.7010604@lm50.com> Date: Tue, 18 Feb 2014 03:46:50 -0800 From: Hamid Wasti User-Agent: Mozilla/5.0 (Windows NT 6.1; WOW64; rv:24.0) Gecko/20100101 Thunderbird/24.3.0 MIME-Version: 1.0 To: Lancair Mailing List Subject: Re: [LML] wanted to buy lancair ES References: In-Reply-To: Content-Type: text/html; charset=ISO-8859-1 Content-Transfer-Encoding: 7bit On 2/17/2014 1:18 PM, Dr. Jamie Fettig DC wrote:

Having troule getting financed for experiemental plane (even though I got approved for $200k on a colubmia 350)

The reason you will have a really hard time getting a loan against a homebuilt aircraft is insurance.

If you are planning to use the the aircraft as a collateral, the lender will want to protect that collateral by requiring that the aircraft be insured. All risk hull insurance for a homebuilt aircraft is expensive and unreliable. Even if you are able to get insurance this year, there is no reasonable expectation that you will be able to get it next year or a few years from now.

Your only hope for financing a homebuilt aircraft is to get a loan against some other asset or an unsecured loan.

Regards,

Hamid