JetLoan Capital announced it has arranged loans totaling $175 million in 2022 for three collateral types. The three types include one for light, mid-size, large cabin jets, turboprop and piston aircraft, the second is helicopters and the third is marine.
Company president Sam Harris observed that the general aviation and business jet segments have been expanding and very active over the last several years. This includes creating inventory shortages and an increase in aircraft prices. The estimation is that one in four aircraft buyers are first-time owners.
JetLoan had a slight slowdown in Q4 2022 vs Q4 2021 activity, likely due to inventory shortages, rising interest rates and the talk of an economic downturn. JetLoan forecasts a modest slowdown in lending activity in 2023. This is given the negative publicity for commercial airlines, as well as health, safety, and privacy concerns.
Banks have become more cautious about building reserves and guarding capital amid talk of a possible recession. Despite this, there is ample capital available for aircraft loans, and several new banks have recently entered the arena.
JetLoan Capital is an independent aviation and marine finance brokerage firm assisting clients with funding for jets, turboprops, pistons, helicopters, and yachts through their group of over 150 commercial banks, community banks, credit unions, finance companies, and private equity funding sources.
Contact
Name: Michael J. Thompson
, Vice President
Company: JetLoan Capital
Website: https://www.jetloancapital.com
Email: [email protected]
Phone: 561.717.2124
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