Nextant Aerospace launches Nextant Finance
Nextant Finance will make funds available for buyers of aircraft at the lower end of the market.
Nextant Aerospace, based in Cleveland, introduced Nextant Finance at EBACE 2014, which will focus on financing aircraft in the $2-10 million market segment, both in the US and internationally.
The new company will offer flexibility and a range of lease and loan options., with Nextant Finance offering specific products for commercial fleet operators with a strong demonstrated cash flow.
Barry Woods, chairman and CEO of Nextant Finance, said: “We will offer financing for both the Nextant 400XTi and G90XT in the US and throughout the world.”
“Since the start of the recession, it has been very difficult for owners and operators of light jets and turboprops to find financing, leaving a significant and unnecessary void in the market,” added Woods. “Our straightforward yet creative financing vehicles are ideal for those who have struggled to find financing in the US and throughout the world.”
Nextant Finance terms will range from two to 20 years. Lease types include capital leases, operating leases and tax leases. Loan types include fixed or floating rates with fully amortizing or balloon payments. In the US, Nextant Finance can also facilitate 1031 exchanges to defer capital gains or losses.
Sean McGeough, president of Nextant Aerospace, said: “We are excited to provide our customers with a dedicated and experienced team to source the right financial solution. This will allow more customers around the world to realise the vast benefits of Nextant re-manufactured aircraft to their businesses. Nextant Finance is ideal for commercial fleet operators who have strong cash flows but lack the kind of balance sheet many banks require.”
Nextant Aerospace is the manufacturer of the world’s only manufacturer business jet, the Nextant 400XTi and in the near future, the company will offer the Nextant G90XT re-manufactured business turboprop, based on the King Air C90.