Requirements
Please review the steps below, ensure you have all the proper information to complete the application, then click Apply Now to start the application process.
Please review the steps below, ensure you have all the proper information to complete the application, then click Apply Now to start the application process.
INDIVIDUALS AND OR GUARANTORS:
1. PREVIOUS TWO YEARS TAX RETURNS
2. CURRENT FINANCIAL STATEMENT. (SIGNED AND DATED)
3. APPLICATION
4. AIRCRAFT SALE/PURCHASE AGREEMENT
5. A COPY OF YOUR DRIVERS LICENSE AND A COPY OF YOUR PILOT'S LICENSE. (THIS IS REQUIRED BY THE U.S. PATROIT ACT)
6. SSN
LLC'S, TRUST, AND CORPORATIONS
Principles of closely held LLCs, trusts, and corporations will be required to guarantee the loan. Along with the financial documents required for LLCs, trusts or corporations, we will need the financial documents for the individuals and for guarantors that are guaranteeing the loan.
LLC'S
1. PREVIOUS TWO YEARS TAX RETURNS
2. PREVIOUS TWO YEAR END FINANCIAL STATEMENTS, INCLUDING STATEMENT OF CONDITION AND PROFIT AND LOSS, PLUS YTD FINANCIAL STATEMENT AND PROFIT & LOSS
3. ARTICLES OF ORGANIZATION AND OPERATING AGREEMENTS, PLUS A LIST OF CURRENT MANAGERS AND MEMBERS WITH THEIR RESPECTIVE PERCENTAGE OF OWNERSHIP.
4. CERTIFICATE OF ORGANIZATION
5. FEDERAL TAX ID NUMBER
6. AIRCRAFT SALE/PURCHASE AGREEMENT
7. COPIES OF DRIVERS LICENSE OF ALL SIGNERS
CORPORATIONS
1. PREVIOUS TWO YEARS TAX RETURNS
2. PREVIOUS TWO YEAR END FINANCIAL STATEMENTS, INCLUDING STATEMENT OF CONDITION AND PROFIT AND LOSS, PLUS YTD FINANCIAL STATEMENT AND PROFIT & LOSS
3. ARTICLES OF INCORPORATION AND ARTICLES OF ORGANIZATION. PLUS A LIST OF CURRENT OFFICERS AND (FOR CLOSELY HELD CORPORATIONS) A LIST OF STOCKHOLDERS AND THEIR PERCENTAGE OF STOCK OWNERSHIP
4. CERTIFICATE OF ORGANIZATION
5. FEDERAL TAX ID NUMBER
6. AIRCRAFT SALE/PURCHASE AGREEMENT
7. COPIES OF DRIVERS LICENSE OF ALL SIGNERS
TRUSTS
1. PREVIOUS TWO YEARS TAX RETURNS
2. PREVIOUS TWO YEARS FINANCIAL STATEMENTS, INCLUDING STATEMENT OF CONDITION AND PROFIT AND LOSS
3. A COMPLETE COPY OF ALL TRUST DOCUMENTS INCLUDING A LIST OF TRUSTEES.
4. FEDERAL TAX ID NUMBER
5. AIRCRAFT SALE/PURCHASE AGREEMENT
6. COPIES OF DRIVERS LICENSE OF ALL SIGNERS
PLEASE FAX THE ABOVE INFORMATION TO 918-250-0698 ATTENTION: AIRCRAFT LOANS
AIRCRAFT INFORMATION
AIRCRAFT SPECIFICATION SHEET - INCLUDING YEAR, MAKE, MODEL, N NUMBER, SERIAL NUMBER, EQUIPMENT, AVIONICS, ENGINE (S) MAKE, MODEL, SERIAL NUMBER AND TIMES, AIRFRAME TIMES. LIST OF MODIFICATION, YEAR MODIFICATIONS WERE COMPLETED. A COMPLETE LISTING OF ANY DAMAGE HISTORY.
A LETTER DETAILING WHERE THE AIRCRAFT WILL BE BASED, INCLUDING NAME AND IDENTIFIER OF AIRPORT, CITY AND STATE AND EITHER HANGAR NUMBER OR PARKING SPOT.
PHOTOS OF INTERIOR AND EXTERIOR OF AIRCRAFT. EXTERIOR PHOTOS MUST INCLUDE BOTH SIDES OF THE AIRCRAFT AND A PHOTO OF THE FRONT. INTERIOR PHOTOS MUST SHOW ALL SEATS DOOR PANELS AND INSTRUMENT PANEL. PHOTOS MUST BE WITHIN 30DAYS OF APPLICATION DATE.
TITLE SEARCH
TRIAD BANK, N.A. WILL ORDER THE TITLE SEARCH. TITLE MUST BE CLEAR AND UNCLOUDED AND THE OWNER MUST BE ABLE TO TRANSFER CLEAR AND UNCLOUDED TITLE AT THE TIME OF SALE.
PURCHASE INSPECTION & APPRAISAL
PRE-PURCHASE INSPECTIONS AND APPRAISALS ARE HIGHLY ENCOURAGED AND MAY BE REQUIRED ON MORE EXPENSIVE, UNIQUE OR OLDER AIRCRAFT. COMPLETE COPIES OF THE PRE PURCHASE INSPECTION OR APPRAISAL WILL NEED TO BE FORWARDED TO TRIAD BANK, N.A.
INSURANCE
TRIAD BANK, N.A. MUST RECEIVE EVIDENCE OF PRE-PAID INSURANCE, EITHER A BINDER OR POLICY PRIOR TO DISBURSEMENT OF FUNDS.
1. POLICY MUST INCLUDE THE NAME OF THE REGISTERED OWNER AS THE PRIMARY INSURED.
2. AIRCRAFT MUST BE IDENTIFIED BY MANUFACTURER, YEAR, MAKE, MODEL, N NUMBER AND FAA REGISTRATION NUMBER ON POLICY OR BINDER.
3. COVERAGE MUST INCLUDE IN FLIGHT AND GROUND PHYSICAL DAMAGE (ALL RISK)
4. COVERAGE SHOULD BE FOR THE FULL VALUE OF THE AIRCRAFT BUT AT A MINIMUM THE AMOUNT OF THE LOAN.
5. DEDUCTIBLES CANNOT EXCEED $1000.00
6. TRIAD BANK, N.A MUST BE THE LOSS PAYEE AS LENDER OR MORTGAGEE UNDER THE STANDARD LENDER'S LOSS PAYABLE CLAUSE ON THE POLICY OR BINDER
7. POLICY MUST INCLUDE A BREACH OF WARRANTY CLAUSE AND ENDORSEMENT TO TRIAD BANK, N.A. FOR THE AMOUNT FINANCED.
8. POLICY MUST CONTAIN 30 DAYS WRITTEN NOTICE OF CANCELLATION TO TRIAD BANK, N.A.
9. POLICY SHALL ALLOW LOSS PAYEE TO MAKE INSURANCE PAYMENTS UPON DEFAULT OF OWNER TO PAY ANY PREMIUM.
All aircraft financed by Triad Bank, N.A. must be insured by the owner, or in the case of a leased airplane, by the lessee with the owner named as additional insured. Confirmation of insurance coverage must be in writing and sent by mail or fax machine and come from the INSURANCE COMPANY OR UNDERWRITING COMPANY. BINDERS FROM INSURANCE AGENTS OR AGENCIES ARE UNACCEPTABLE SINCE THEY DO NOT HAVE BINDING AUTHORITY.
