Republic Bank & Trust

Aircraft Lending FAQ

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Q Why should I use Republic Bank & Trust Company?
A Because we make it easy!  We understand the nuances involved with an aircraft purchase, registration, and closing.  We strive to make the process easy for you so you can focus on flying!

Q Can I be pre-approved prior to making an offer on an aircraft?
A Yes, we recommend being pre-approved prior to shopping for an aircraft.  Just click on the Pre-approval Application on the Republic Bank Aircraft Lending web page and follow the instructions.

Q How much are the closing costs for an aircraft loan?
A Republic Bank charges a flat $495 Processing Fee. This does not include escrow/title company fees that are typically split between buyer and seller. Contact us at for a list of escrow/title companies we work with.

Q Do you need my complete Tax Returns? 
A Yes, we require the most recent 2 years complete personal (schedules, statements, K-1s, and W2s) and/or business tax returns.  We ask for this information up front so we can process your request as quickly as possible and avoid multiple requests for additional information.

Q Do you close with an Escrow Company?
A Yes, escrow closing is the standard in the aviation industry. Escrow closing protects all parties including buyer, seller and lender.

Q Am I required to register the aircraft at the International Registry?
A Only if your aircraft qualifies by meeting one or more of the following:

  • Aircraft certified with 8 or more total seats or with engines rated 550 horsepower or more.
  • For IR eligibility, click here and select the link "Cape Town Eligible Aircraft"

Q In which states can I finance my aircraft?
A We finance in all states with the exception of Alaska and Hawaii.

Q What is the oldest year we will finance?
A 1970 with no more than 7500 total airframe hours.

Q Is an aircraft appraisal required?
A No, we utilize pricing digests and market data to value the aircraft.

Q What are the insurance requirements?
A Full risk, in-flight, and ground hull coverage equal to or greater than the loan amount.  Lienholder interest endorsement with a Breach of Warranty and 30 day notice of cancellation.  $1 million or greater liability coverage.

Q Is there a penalty for early payoff?
A In the event of early termination (payoff) within 18 months of the loan origination date, Borrower shall pay a prepayment penalty of 1% of the principal amount due at the time of termination, unless the payoff is the result of a refinance of the obligation with Republic Bank & Trust Company.

Q Are there any limitations to the registration types for my aircraft?
A Republic Bank accepts Individual, Joint, Partnership, LLC, and Corporate registrations.

Q Do you offer financing in a business name?
A Yes, we accept airplane loan applications in business names with the majority owner as a personal guaranty.

Q What type of aircraft can I finance?
A Republic Bank will finance most personal aircraft makes and models.  Aircraft that do not qualify include:  helicopters, balloons, blimps, gliders, ultralights, amateur built kits, experimental and float planes.

Q How do I apply?
A Click here.

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