Application & Approval Process

	Complete the application and forward to Red River State Bank via mail, E-Mail, overnight express, or fax, together with supporting information listed on the Financial Information Requirements Sheet (i.e. aircraft specifications, 2 years tax returns, include all applicant(s)/guarantor(s) information).
	Mailing Address: 300 2nd Avenue West P.O. Box 25 Halstad, MN 56548 Fax: 218-456-2199 E-Mail: apply@airloan.com
	Upon receipt, Red River State Bank will review the application and will contact you with any questions in reviewing your credit package, financial statements, and tax returns.
	The turnaround timing will typically depend on the size of the transaction, utilization of the aircraft, and complexity of the financing package.
	Red River State Bank will generally complete the underwriting process the same day the application is received or the next business day.  For larger or more complicated transactions, the underwriting process may take 3 or more business days.
Closing Process
	Generally, closing takes two business days - one day to prepare and overnight documents to the client and one day for the client to sign and return the documents.  The following is a brief overview of the loan closing process.
	Red River State Bank will conduct a title search on the aircraft.
	Red River State Bank forwards the closing package via overnight FedEx for signing by Purchaser/Guarantor together with a closing document instruction sheet.  Documents may include Loan and Security Agreement, Insurance Requirements, FAA Documentation (i.e. Bill of Sale, FAA Registration) or any other required documents.
	Closing documents need to be signed, notarized (where noted) and returned along with a check to Red River State Bank in the amount of $350 for the documentation and closing costs.
	Red River State Bank wires the loan amount to the seller or lien holder, as designated by the buyer, upon receipt of documentation and authorization.  Buyer makes the down payment to the seller.