Federal Credit Union Launches Line of Credit for Airplane Upgrades

Sonoma Federal Credit Union’s new Flight-Line program helps owners finance major upgrades, for certified and experimental airplanes alike.

Sonoma Federal Credit Union has launched its new Flight-Line, an aircraft line of credit aimed at helping general aviation small plane owners pay for major upgrades and repairs. The program includes financing for completed experimental kit-built airplanes, a feature credit union CEO David Powell says he specifically wanted included.

The Santa Rosa, California-based credit union is focusing on the expenses that come after an airplane is purchased: upgrading instrument panels, installing modern avionics or handling an entire engine overhaul.

“Most small plane owners don’t have $35,000 handy to do a panel rework, for full ADS-B integration; this line of credit solves that,” Powell said.

His example gets at the problem the program is intended to address. An owner may know what work an airplane needs and what equipment belongs in the cockpit, while still facing the question of how to pay for everything. Flight-Line offers a way for qualified owners to finance both equipment and work over time.

The inclusion of experimental airplanes gives the launch another point of interest. Powell said he wanted owners of kit-built aircraft to have access to the program alongside owners of certified airplanes.

“The build quality of experimental kit-planes is amazing, which is why I made sure the Flight-Line program was designed to provide experimental airplane owners with the same financing as certified airplanes.”

Completed kit-built aircraft are eligible under the published guidelines, provided the pilot-owner meets the credit and income minimums. Details about pilot and plane requirements are located on the credit union’s Flight-Line page.

Beyond panel work, the credit union explicitly lists autopilot installations, ADS-B integration, engine overhauls, and propeller rebuilding among the projects Flight-Line is intended to finance. The program offers a fixed interest rate and charges interest only as funds are borrowed and project expenses occur.

Powell says the program serves FAA-licensed pilots who own single-engine piston airplanes based anywhere in the continental United States. Many of the most common questions from pilots can be found on the Flight-Line FAQ page.

Contact Sonoma Federal Credit Union for more information.

By phone: (707) 527-6216

By e-mail: loancenter@sonomafed.com