Membership Services
AOPA Helps Physicians’ Group Finance New Aircraft
It pays to go to the experts
When Dr. Rob Hamilton sought financing to purchase a Maule MT-7 along with two other physician colleagues, he first contacted local banks and then a financing company. Dr. Hamilton says, “The rates were quite high, and they didn’t have any familiarity with aircraft.” In fact, one bank told him that the airplane would have to be considered “commercial equipment.” He knew these financial institutions just weren’t speaking his language so he turned to AOPA where he received his insurance.
Dr. Hamilton has been a member of AOPA since he started flying in 2006. He says, “The AOPA Aircraft Financing Program knew what I was looking for. They looked up the N-number and knew the field well.” Three months prior to seeking financing, Dr. Hamilton also set up an LLC, a limited liability company, and the loan was placed into his LLC.
According to Dr. Hamilton, “AOPA Aircraft Financing worked with us closely, got us a good rate and got us approval very quickly – no question about it.” Based in Redding, California, he plans to use the aircraft 70% of the time for personal business to travel to satellite medical facilities, as an emergency physician and a regional medical director.
Dr. Hamilton and his partners took possession of the Maule early this year, and so far, he is a happy aircraft owner. He says, “I absolutely love the Maule. I love that airplane.”
December 13, 2010
