Welcome to MyrAir FBO Financing.
Have you found that FBO you want so badly and don’t have the cash to buy it? Don’t worry, our loans and acquisitions department can study your operation and offer you the necessary help to make your desired purchase always at the most competitive interest in the market.
And if you want to know in advance the costs of such operation, do not hesitate to use our Finance Calculator from where in a few moments you can know the details of such financial operation.
Please read the terms and conditions for the purchase of FBO and complete the form according to your request to receive our response as soon as possible.
TERMS AND CONDITIONS
- Attention: For the time being and until further notice, loans for FBO purchases or networks are subject to my express approval. However, if the request turns out to be rejected, you can still request a cash loan through the VCash Financing.
- A minimum down payment of 30% is required for all loan.
- All payments to be made to group : “MyrAir Financing”.
- No purchase request will be processed if you have not sent the required down payment.
- Loan payments are due every 30 days from date of purchase (not 30 days from last payment).
- If payment is not received within 7 days, the FBO will be repossessed and no refund will be issued. Please note that no warning will be given, it is the client’s responsibility to ensure payments are received prior to or on the payment due dates.
- When submitting a payment, please indicate the FBO in the comments.
- MyrAir Financing will retain ownership of the FBO until the loan is paid off.
- A group will be created where the FBO will be deposited until final payment. The FBO will be configured according to the buyer’s indications (assignments and destination, fuel and workshop prices, etc).
- All costs associated with the purchase of supplies and fuels are the responsibility of the client. MyrAir Financing will regularly monitor the levels of supplies and fuel and notify the client if these are getting low.
- It is the customer’s obligation to maintain all FBOs with sufficient supplies to remain open for the entire duration of the loan. Failure to comply with this rule and the closure of the FBO or Network for 7 days will be considered a breach of contract and the loan will be terminated without the possibility of reimbursement of any amount of what has been delivered up to that moment.
- All profit generated by the FBO will be retained in the FBO’s holding group and can be used by the client to replenish supplies and fuels, any additional funds that would be required are to be transferred to the holding group by the client to cover the purchase.
- Upon repayment of the loan, The FBO ownership group will be setup for private sale to the client and all remaining funds in the holding group will be transfered.
- There is the possibility to offer or request an aircraft owned by the client, as a down payment or as a guarantee for the total amount of the requested loan (subject to conditions).
- You will be provided access to a spreadsheet where you can track your loan: dates, payments made and outstanding, etc.
- If you need more months than specified to make your financing, do not hesitate to consult us (subject to study).
- The loan may be revoked at any time and no refund will be issued, if the client is found in breach of these Terms and Conditions.
- Interest/Financing Fees are as follows and are calculated off the total amount that is financed
- 3 Month Term – 6%
- 4 Month Term – 8%
- 5 Month Term – 10%
- 6 Month Term – 12%