Wed, Apr 08, 2015
Capital Base Grows To Over $500 Million Pending FAA Approval
The NextGen GA Fund, along with partner Madison Capital, is announcing an expansion to its current funding capabilities for general and business aviation aircraft owners to address surging in demand for avionics financing.
The GA Fund, which will expand its available capital base to over $500 million pending FAA approval, continues to offer early opportunities for aircraft owners seeking immediate financing assistance. GA Fund transactions provide aircraft owners the ability to fully upgrade cockpit avionics, including equipment and installation costs, with payment over several years at competitive rates and terms.
The additional funding is necessary as the GA Fund continues its mission to address two primary obstacles to the rollout of next-generation cockpit technology: the cost of simple ADS-B compliance for smaller aircraft, and financing alternatives for many turbine and multi-engine projects sporting heftier price tags.
“The NextGen GA Fund and its partners are proud to be known as part of the solution rather than part of the problem for general aviation aircraft owners.” said James Hughey, managing partner of the NextGen GA Fund. “In addition to adding the Jumpstart GA 2020 program for smaller aircraft, we have established strong ties with customers, dealers, and avionics manufacturers. We await FAA approval to deploy our full capital pool and this expansion will give us the flexibility to immediately serve the strong demand we see for operators looking to finance cockpit upgrades.”
The NextGen GA Fund’s funding partners, Madison Capital and Pilot Bank, are two of America’s most experienced financial institutions with decades of expertise in the general aviation sector. Their familiarity with general aviation aircraft owners and operators brings a wealth of knowledge to the NextGen GA Fund as it gears up to approve tens of thousands of financial offers over the next few years.
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