Avionics News July 2018 - 61

amount you want to finance is less than $100,000, then it's an
in the avionics business. We decided that since the airplane
application-only process. Not quite "sign and drive," but close.
would be down anyway, this was the right time to make the
"Generally, the credit rating of aircraft owners is strong, so
panel perfect. I was looking at spending right at $70,000 for
in most cases, if they qualify to buy a new car, they're going
the upgrade, and that's when I decided to contact Madison
to qualify to upgrade their avionics," Levine said. "We've had
Capital.
very few turndowns and no issues with delinquent payments
"I had learned about Madison Capital on the NextGen
ever. Most owners have an idea what they will qualify for."
GA Fund's website and contacted them. These guys - Alan
Levine said that since Madison Capital has experience in
(Levine) in particular - really get aviation. If you try talking to
financing all kinds of equipment purchases, it is not fenced in
a regular bank representative, they have no idea what you're
to only providing funds for avionics purchases.
talking about. I didn't have time to educate the bank and then
"There are almost no limitations with regards to what
wait months for an answer. Madison Capital had my answer in
we will finance," he said. "That's totally up to the aircraft
less than two days."
owner. We have financed new engines and other upgrades like
Once he got the green light on the financing package,
interior and paint. We don't finance
Krenitsky and the team at AirNet
consumables, but we're open to
II in Columbus, Ohio, set to work
pretty much everything else on the
transforming the 421's legacy panel
MADISON CAPITAL'S
airplane."
into his ideal flying machine.
AVIONICS FINANCING
The avionics upgrade included a
OFFERINGS HAVE BEEN
Dr. Gabriel Krenitsky and
three-screen Aspen Evolution 2500
his amazing Cessna 421B
setup, a Garmin GTN 650 to go with
MET WITH A GOOD
Like most physicians, saying that
the existing GTN 750, a Garmin
RESPONSE FROM PILOTS
Dr. Gabriel Krenitsky's life is busy
audio controller and a JPI 790
PRIMARILY
BECAUSE
is an understatement. Specializing
digital engine monitor. In addition,
in dermatology and emergency
Krenitsky had the panel redesigned
medicine, Krenitsky divides his time
to match his personal piloting
between his headquarter practice in
preferences.
Dublin, Ohio, his three other offices
"We moved things around to
in the Buckeye State and his growing
simplify my process and improve
family. With time being such a
situational awareness," he said.
precious commodity, he relies on his
"Startup is from left to right, and shut
immaculate Cessna 421B to help him
down is from right to left. I can do all
make the most of every minute.
the flying tasks with my left hand and
"I came from a flying family, and
nonflying tasks with my right hand.
flight training was required education
It's much easier now."
when I was growing up," he said. "I
Other than not having to "stroke
earned my license when I was a teenager, but like so many
a $70,000 check," another benefit to financing that Krenitsky
pilots, I dropped out. Raising a family and growing a medical
noted was the ability to take advantage of accelerated
practice takes a lot of time and effort."
depreciation on the whole installation.
While aviation wasn't a part of his life, it was never far
"In my situation, I am able to take the maximum tax
away.
deduction now and pay it off over time," he said.
"I was out of flying for about 15 years, then a fellow doctor
While accelerated depreciation is something Krenitsky can
who also is a CFI took me up again and that was it," he said.
take advantage of, Levine cautioned that each aircraft owner
"Not long after, I had a chance to fly a Cessna 421 and was
must work closely with their own tax professional to make
sold on that being the perfect airplane for my business and
sure they're playing by the rules.
personal use.
"We do what are called equipment financing agreements
"I found this one in 2015, and it was everything I was
on most of these transactions," Levine said. "The rules are
looking for. It had the STOL conversion with fowler flaps,
constantly changing, so your accountant must know your
extended range fuel tanks and factory-new engines. I knew I
current business situation." q
had to do ADS-B compliance, but I thought that was all I was
going to do.
To learn more about Madison Capital,
"As it turned out, that was just the beginning. I have friends
visit madisoncapital.com.

MADISON'S
APPROVAL
PROCESS IS
EASIER THAN A
TYPICAL BANK.

avionics news

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july

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http://www.madisoncapital.com
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