Establish the experimental certification purpose and present build stage. Document amateur-built eligibility, actual operating limitations and an inspection plan before assuming any financing.
Start with the certification purpose and the build stage
Experimental aircraft financing requires a clear description of what you are buying. A flying amateur-built airplane, an aircraft still in flight testing, an incomplete kit and a collection of unassembled components present different documentation, valuation and completion questions. Establish the stage before discussing a loan amount. A lender willing to review one stage has not necessarily agreed to finance another.
This guide focuses on U.S. experimental amateur-built aircraft, commonly called EAB or E-AB. It does not treat every experimental certificate or light-sport aircraft as the same category. Jaken Aviation is an aircraft financing brokerage, a division of Jaken Finance Group, and does not make credit decisions. Any financing possibility must be confirmed for the borrower, aircraft, stage and intended use.
There is no defensible universal lender count, rate premium, down payment, credit score, pilot-hour requirement or resale percentage for this market. Ask which actual institutions will consider the documented transaction and obtain their requirements. An attractive kit design or a large personal contribution does not establish eligibility.
Understand the amateur-built purpose before paying for assistance
Section 21.191(g) describes aircraft whose major portion was fabricated and assembled by people undertaking the construction for their own education or recreation. Other experimental purposes and light-sport certification pathways appear separately in the regulation. A kit designation or an aircraft's size is not enough to determine its certification basis. Obtain the actual certificate or the proposed certification path. 14 CFR21.191: distinct experimental certification purposes
The FAA's AC 20-27G explains the major-portion assessment through fabrication and assembly tasks, commonly called the 51-percent rule. This is not a statement that the owner must contribute 51% of the purchase price. Paid construction assistance must be evaluated against the amateur work required; a professional finish or a build-center invoice cannot establish amateur-built eligibility by itself. FAA AC20-27G: major-portion tasks, assistance and incomplete-project history
Discuss assistance with the FAA before relying on the plan. Instruction, inspection and paid fabrication are different activities. The relevant question is who actually performs the counted work, with credible records. Do not select a project on the assumption that paying a professional to complete everything will preserve its proposed certification category.
The FAA also states that it evaluates kits for the major-portion requirement without certifying or approving the kit or its manufacturer. A kit's appearance on the evaluated list is therefore useful evidence about a construction pathway, rather than approval of the finished aircraft, workmanship, performance or financing. FAA: kit evaluation does not approve kits or manufacturers
Separate completed-aircraft review from completion risk
For a completed aircraft, obtain its special airworthiness certificate, operating limitations, registration, flight-test records, current inspection entries and equipment information. Identify the builder and the aircraft's actual serial number. Review construction history, repairs, modifications and the installed engine and propeller with someone experienced in that design. A polished aircraft and an orderly file answer different questions; both deserve inspection.
For an unfinished purchase, inventory what exists and what remains. Establish whether quoted components are physically present, paid for, identified and included in the sale. Record storage conditions, corrosion or deterioration, unavailable parts, previous modifications and work that needs inspection or rework. A seller's percentage-complete estimate does not measure the cash or technical work needed to finish.
AC 20-27G discusses a partially completed project changing hands: prior amateur builders' work can count toward the major portion, while the certification applicant remains responsible for proving eligibility. Obtain earlier builder logs, photographs and assistance records. Buying an unfinished project does not automatically erase its construction history or make the missing documentation irrelevant. FAA AC20-27G: major-portion tasks, assistance and incomplete-project history
Ask the prospective lender what collateral it will accept at this stage, how it will establish value and when any funds would become available. If it proposes conditions, document them before committing to purchases. Do not assume there will be progress advances, a completion loan, reimbursement of prior spending or refinancing after certification. These are questions for an actual proposal, not products promised by this guide.
Treat operating limitations as essential purchase documents
The FAA explains that experimental certificates have attached operating limitations, including a flight-test phase and subsequent limitations after successful testing. Obtain the complete current limitations and supporting entries. The presence of an airworthiness certificate alone does not establish that flight testing has been completed or that the buyer's proposed operation is authorized. FAA: EAB airworthiness documentation and phase-specific limitations
Section 91.319 restricts operations to the certificate's purpose and addresses testing, assigned areas, passengers, day-VFR operation unless specifically authorized, and particular compensation or hire operations. Read those provisions together with the aircraft's limitations. A night flight, instrument flight, demonstration, training arrangement or revenue plan needs its own applicable review. 14 CFR91.319: experimental-purpose and operating limitations
Have a qualified adviser check the flight-test status and proposed delivery. An airplane may need further testing or other action after a change; the relevant documents and requirements determine the path. Avoid assuming a universal number of test hours or accepting a seller's informal description of Phase II as sufficient evidence.
Light-sport terminology needs similar care. An EAB aircraft and an experimental light-sport aircraft can have different certification purposes and limitations. A claim that a model is light-sport suitable does not by itself establish the pilot privileges, maintenance authority, rental permission or commercial-use permission applicable to that aircraft.
Establish who can perform the condition inspection
An EAB condition inspection and a standard-category annual inspection should not be treated as interchangeable labels. Part 43 contains experimental-aircraft applicability exceptions, while the aircraft's operating limitations remain important to its inspection obligations. Arrange an appropriately authorized person who understands the design and the required scope. Ownership alone does not confer inspection authority. 14 CFR43.1: experimental applicability exceptions
The experimental-aircraft-builder repairman certificate under section 65.104 requires primary-builder eligibility and demonstrated skill, and its condition-inspection privileges apply to the aircraft constructed by that holder under its limitations. Purchasing a completed airplane does not transfer the seller's personal certificate to the buyer. 14 CFR65.104: primary-builder repairman eligibility and privileges
There is also a current light-sport repairman pathway to evaluate. Section 65.109 permits an inspection-rated light-sport repairman to perform annual condition inspections on owned EAB aircraft within the trained category and class. A maintenance rating has different privileges and conditions. This is a separate certificate route from the primary-builder certificate. 14 CFR65.109: light-sport repairman inspection and maintenance distinctions
The FAA's repairman guidance, updated October 15, 2026, explains the MOSAIC changes effective October 22, 2025 and warns that an EAB's issued limitations may restrict who can inspect it. It notes revised limitations issued after January 30, 2026 and a process for requesting amendment of earlier limitations. Confirm the actual person's ratings, training, ownership position and the aircraft's limitations before budgeting owner-performed inspections. FAA: current repairman guidance and EAB operating-limitations gate FAA MOSAIC final rule: effective dates and instruction66 adding65.109
An inspection rating does not grant a general maintenance-rating privilege. Neither a course advertisement nor the seller's previous practice proves the buyer can sign the next inspection. Obtain a feasible inspection and maintenance arrangement before closing, including travel, scheduling and any specialist assistance needed for unfamiliar systems.
Evaluate a design without assuming a model-wide loan approval
Names such as Van's RV, Glasair or Sportsman, Lancair, Sonex and RANS can help organize a search. They do not describe identical construction, performance, parts or insurance. Verify the precise model, configuration and current support position. For a plans-built or original-design aircraft, obtain the corresponding design information and identify who can assess the actual construction.
For any candidate, ask the inspector to evaluate workmanship, materials, structural access, fuel and electrical systems, engine installation, controls and modifications. Identify areas where records are insufficient or further examination is needed. A component's certification label cannot substitute for an evaluation of its installation, and a cosmetic finish cannot establish hidden build quality.
For valuation, request genuinely relevant transactions and explain differences in engine, avionics, build quality, condition, documentation and date. A kit invoice, accumulated receipts or the seller's labor estimate does not establish completed-aircraft market value. Current support and replacement-part access matter to your ability to operate and maintain the airplane, without guaranteeing appreciation or a rapid resale.
A fictional completed-aircraft loan example
The following numbers are invented for arithmetic and do not represent model values or available financing. Assume a completed aircraft costs $180,000, with a $54,000 buyer contribution and $126,000 loan. The contribution is 30% of the assumed price. At a fixed 7.5% nominal annual rate, monthly interest at that rate divided by twelve and 180 end-of-month amortizing payments, the payment is $1,168.04.
Twelve unrounded payments total $14,016.43, and the balance after payment 60 is $98,400.86. If contractual maturity occurs then, that balance still requires repayment despite the longer amortization. Taxes, fees and contract-specific rounding are excluded. These calculations do not establish that any lender will finance the aircraft.
A second fictional completed-aircraft purchase at $285,000 with 35% contributed would require $99,750 from the buyer and leave $185,250 to finance. At a fixed 7% nominal annual rate over 180 monthly payments, the payment is $1,665.08, and twelve unrounded payments total $19,980.95. The different rate, principal and contribution must remain visible when comparing proposals.
In either case, budget actual storage, insurance, inspection, fuel, maintenance and training separately. With $250,000 starting cash, the first example's $54,000 contribution, $10,000 transaction allocation, $15,000 aircraft contingency and $30,000 protected personal reserve would leave $141,000 unallocated. Earmarked reserves remain cash; they are not already-paid invoices.
A fictional incomplete-project funding test
Now consider an unrelated fictional unfinished project priced at $90,000. Assume $40,000 of remaining engine and propeller spending, $65,000 of other completion work and parts, and a contingency equal to 15% of that $105,000 completion estimate. The contingency is $15,750. Add $10,000 for acquisition, transport and technical review: the total planned cash is $220,750.
If the buyer has $250,000 and protects $30,000 for other needs, only $220,000 is available to the project. The plan is short by $750 before any additional overruns. A low project purchase price has therefore not established a funded path to completion. These amounts are invented, and the two example aircraft are not represented as comparable designs or equivalent finished products.
This project case assumes no available financing before completion. If financing is proposed, replace that assumption only with a documented offer and its conditions. An expected future value is not present cash, and a planned refinance cannot pay today's component invoice unless the actual financing arrangement permits it. Include the possibility that completion or certification takes longer than expected.
Match insurance, ownership and funding to the proposed use
Seek an insurance indication for the exact aircraft, phase, pilots and activities. Confirm ground coverage during construction or storage, testing and delivery arrangements, and post-completion operation as applicable. Obtain any required transition training and instructor conditions in writing. There is no universal experimental premium percentage or automatic coverage advantage from joining a club or installing equipment.
A credit union, bank, private lender or other proposed source must confirm its own eligibility, membership, collateral and documentation requirements. If considering personal borrowing or a loan secured by other assets, compare the full obligation and the assets exposed. Do not assume its price, tax treatment or repayment structure matches an aircraft loan.
Partnerships, clubs or an LLC require a clear ownership, use, contribution, maintenance and exit agreement. Entity formation does not automatically solve insurance, liability, credit or inspection-privilege questions. Obtain current advice before depending on leaseback, rental, flight-training or other revenue to service debt. Experimental operating permissions require separate review.
Assemble an application that can be evaluated
Provide the financial information the lender actually requests, together with the aircraft or project agreement, inventory, equipment, construction and inspection records, valuation support, insurance plan and intended use. Have the closing adviser identify ownership and lien issues for the specific components, project or registered aircraft. Registration and a bill of sale should not substitute for a suitable title and security review.
Ask the finance professional which institutions have actually indicated interest, what stage they will consider, what is missing, how terms would be established and which events control timing. Use the aircraft loan requirements guide and pre-buy inspection guide to organize those discussions. The article library provides related resources. When the evidence and completion budget are clear, request a financing review describing the aircraft's certification purpose and present stage.