Anyone who has tried to borrow money in the last five years knows how tough it has become. Banks supported by government guarantees practically gave money away before the subprime meltdown but are now being much more careful. That’s a good thing, but it means even some credit-worthy customers can’t get the loans they need. Commonly rejected are flight schools. Flight training enterprises across the nation are struggling to obtain financing to buy new aircraft to replace aging fleets of trainers.
Despite the challenges, one LSA outfit has found at least a partial answer.
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