Avionics News July 2018 - 60
feature
Dr. Gabriel Krenitsky, a
Madison Capital customer,
with his Cessna 421B
MADISON
CAPITAL
W
S T O R Y
B Y
hile there are many reasons why aircraft owners
are putting-off their ADS-B compliance, probably
the biggest is money or the lack thereof. It's not that the
ADS-B installation itself is too expensive, it's the reality that
most owners want to make it part of a more-extensive avionics
upgrade.
"Generally, when someone begins the upgrade, they start at
$15,000 and it ends up being $45,000, or they start at $50,000
and go up to $75,000 - they just end up doing a lot more to the
airplane once it's taken apart," stated Allan Levine, a partner
with Madison Capital, an AEA member company in Owings
Mill, Maryland. "That's where our financing options make it
easy. They call us and up their loan amount. Typically, we can
approve it in a day."
While that's all good, the problem, at least for many aircraft
owners, is that it's challenging to save the cash needed for
major avionics work.
For the past five years, Levine and the other aviation
financing professionals at Madison Capital have offered
aircraft owners, partnerships, and flight schools attractive
financing to enable them to do the avionics upgrades without
breaking the proverbial bank.
"The people at the NextGen GA Fund contacted us about
six years ago looking for companies willing to offer financing
for pilots to help meet the ADS-B mandate," Levine said.
60
avionics news
*
july
2018
D A L E
MAKES
CHOOSING YOUR
ADS-B SOLUTION
EASIER
S M I T H
"They were trying to get some legislation passed with the
federal government that would subsidize some of the cost of a
NextGen upgrade. They lobbied for it, but obviously it never
got approved.
"In the meantime, aircraft owners had heard about what
we were offering and started contacting us about financing
their ADS-B compliance upgrades. After talking to the
NextGen people, we felt this would be a good opportunity
for our equipment financing services. We attended the AEA
Convention when this was introduced a couple of years ago
and have been doing some marketing to avionics shops."
Levine said that, so far, Madison Capital's avionics
financing offerings have been met with a good response from
pilots primarily because Madison's approval process is easier
than a typical bank.
"Our interest rates may be a little higher than a bank, but we
require a zillion times less red tape," he said. "If you come to
us and want a $50,000 loan, we can turn that around in a day
or two.
"Banks are often more restrictive, and they're not typically
going to loan you money for an avionics installation unless
you already have a great relationship with them. Most banks
don't understand the avionics and aviation business - we do."
He explained that ease of application is another
differentiator between Madison Capital and a bank. If the
Table of Contents for the Digital Edition of Avionics News July 2018
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Avionics News July 2018 - No label
Avionics News July 2018 - Cover1
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Avionics News July 2018 - 1
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Avionics News July 2018 - Cover3
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