Advice
“Speed is the only reason for flying,” aviation pioneer Clyde Cessna once declared. This adage resonates powerfully in the realm of aircraft finance, where the swiftness of transactions can make or break a deal. As the end of the year approaches, the pressure to expedite transactions intensifies, driven by tax implications and market opportunities. Buyers and sellers alike seek financial partners who can move swiftly, and with nearly 40 years of experience, 1st Source Bank is a proven leader in this fast-paced industry.
The Importance of Speed in Aircraft Finance
In aircraft finance, time is of the essence. The ability to move quickly from negotiations to finalizing contracts can give clients a competitive edge and allow them to capitalize on time-sensitive opportunities. Delays in closing deals can result in missed opportunities, increased costs, and potential tax implications. Speed not only facilitates timely closures but also motivates sellers to work with buyers who can act fast.
Expertise and Efficiency in Aircraft Financing
When considering aircraft financing options, buyers may find value in partnering with a financial institution with a proven track record of closing deals quickly and efficiently. 1st Source Bank (Nasdaq: SRCE), with almost 40 years of aircraft financing experience, is one such institution. With a history of serving the U.S., Canada, and LATAM aviation community, 1st Source has built an aircraft portfolio of a billion dollars and a reputation for understanding the unique needs of aircraft buyers and sellers.
The bank’s extensive experience in aircraft finance equips them with a deep understanding of the industry’s complexities, allowing them to provide tailored solutions. The knowledgeable staff at 1st Source Bank brings a wealth of expertise and dedication to client satisfaction, ensuring that buyers receive top-notch guidance and support throughout the financing process. Whether it’s navigating regulatory considerations, structuring deals, or providing strategic advice, the bank’s staff members are well-equipped to assist clients every step of the way.
Building Stronger Relationships with Speed
In today’s environment, the role of deposit relationships between banks and clients plays a crucial part in the overall transaction process and can help accelerate transactions. Deposit relationships not only help banks establish trust and rapport with clients but also contribute to ensuring liquidity for aircraft operating expenses. By maintaining deposit accounts with the same institution from which they obtained their aircraft loan, buyers can strengthen their relationship with the bank. This can lead to a deeper level of trust and understanding between the two parties, facilitating smoother transactions and potentially more favorable terms for future financing needs.
Looking Ahead: The Future of Aircraft Finance
As we look to the future of aircraft finance, one thing remains clear: speed will continue to be a driving force in closing deals and seizing opportunities. A buyer’s ability to act swiftly will be what sets them apart in this dynamic and ever-changing market.
Practical Tips for Speeding Up the Financing Process
To ensure a quick closing, buyers can take several practical steps:
- Maintain Strong Deposit Relationships: Keeping deposit accounts with the lending institution can strengthen trust and facilitate faster transactions.
- Prepare Documentation in Advance: Having all necessary documents ready for review can significantly speed up the process.
- Work with Experienced Financial Institutions: Partnering with banks that have a proven track record in aircraft finance, like 1st Source Bank, ensures efficient handling of the transaction.
Ready to close your aircraft deal swiftly and efficiently? Contact the experts at 1st Source Bank today and experience the difference.
Chris Lee
President, Aircraft Financing Division
Specialty Finance Group of 1st Source Bank