Application and Approval Process
1. Complete the application and forward to Mooney Capital via mail, email, overnight
express or fax, together with supporting information listed on the Financial Information Requirements Sheet (i.e. aircraft specifications if available, 2 years' tax returns for business and/ or individual purchasing aircraft - include all applicant(s)/guarantor(s) information).
2. Upon receipt, Mooney Capital will review the Application and will contact you with any questions.
3. Mooney Capital will give an approval usually within one to two business days. More complicated business financings may take longer.
Closing Process
Closing takes two business days - one day to prepare and overnight documents to you and one day for you to sign and return the documents. Mooney Capital includes a pre-paid, pre-addressed overnight return envelope to expedite the process.
1. Mooney Capital conducts title search on aircraft.
2. Mooney Capital forwards Closing Package via overnight FedEx or "e-docs" for signing by Purchaser/ Guarantor together with a closing document instruction sheet. Documents include Loan and Security Agreement, Chattel Mortgage, Authorization to Release Funds, Insurance Requirements, supporting FAA documentation (i.e. Bill of Sale, FAA Registration), and any other required documents.
3. Closing documents need to be signed, notarized (where noted) and returned.
4. Mooney Capital wires the loan amount to seller/ lien holder, as designated by buyer, upon receipt of documentation and authorization. Buyer makes down payment to seller.
Post Closing
1. Mooney Capital submits FAA documentation to the FAA for filing (Registration, Bill of Sale, etc.).
2. Mooney Capital copies and forwards a complete set of documents to you for your records.
3. Mooney Capital conducts post-sale title and forwards a copy to you for your records.
