BMO Harris Bank aircraft finance


Our guide

BMO Harris Bank only established a dedicated aircraft financing practice in 2012, but the bank has been very active with US and Canadian clients since then. The bank grew its portfolio by over $250 million sin 2013 with financing both jets and helicopters. In October 2012 the equipment finance division hired Joseph DiLallo, who says the company is targeting aggressive growth in North America and aims to serve international clients eventually.

What sort of customers do you finance?
• Corporate, HNWI

Which regions do you concentrate on?
•   North America – US and Canada

What types of aircraft do you finance?
• Helicopters
• Fixed wing – Up to $5 million
• Jets – $5 million to $65 million

Do you have a maximum and minimum deal size?
• Up to $65m

Will you finance pre-owned aircraft?
• Yes – up to 15 years

Do you have a maximum age at maturity?
• No – but usual maximum will be 20-25 years.

Do you require an existing banking relationship?
• No existing banking relationship required.

What types of structures do you offer?
• Tax leases, finance leases, operating leases, structured loans, pre-delivery payments.

Do you always require personal or corporate guarantees (recourse financing)
• Yes.  The bank only provides recourse financing structures that require either personal (HNWI clients) or corporate (corporate clients) guarantees to secure the investment.

Do you require maintenance guarantees?
• Strongly prefer that all the aircraft financed are enrolled in engine/airframe/APU maintenance programs but do not require enrolment in all cases.

Joe DiLallo
BMO Harris Equipment Finance Company
Head, Corporate Aircraft Finance
[email protected]
440.385.4433 office
216.926.1733 mobile