NAFCO First to Offer Evolution Financing

Pia Bergqvist

Wednesday, May 18, 2011 at 07:02 PM ET

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Lancair Evolution Courtesy of Lancair

Key Takeaways:

The Lancair Evolution is now eligible for 70% financing through NAFCO, marking the first time since its 2008 introduction that customers can finance the aircraft.
NAFCO offers this financing because the Evolution has proven to be insurable by major companies, allowing them to secure bank loans for the experimental category aircraft.
The high-performance, kit-built Evolution, with an estimated cost of $1.2 million for its turboprop variant, had previously faced financing limitations due to an economic downturn.

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For the first time since the introduction of the Lancair Evolution in 2008, potential customers are now able to finance their airplanes through NAFCO – National Aircraft Finance Company. The Evolution kit and the new Pratt & Whitney PT6A-135A engine that powers the airplane is eligible for 70% financing.

Bill Leckie III, vice president and operations manager for NAFCO, says: “NAFCO has traditionally offered experimental category financing on insurable aircraft, and since the Evolution has proven to be insurable by the major companies, we’re now able to place these loans with the banks.” NAFCO is based in Lakeland, Florida, and offers financing for engine overhauls, avionics upgrades and a wide variety of airplanes.