The lender will send a email stating the terms that are offered to you and will require an acknowledgement that you have read our website, FAQ and Qualifications.

Sign the Loan Agreement with Student Aviation Financial Enterprises (the "Lender") (a copy will be provided for your file).

Sign an Acknowledgement Agreement with the Lender (a copy will be provided for your file).

   There is no limit as to the frequency of the cash draws for your training.  Please remember that the faster you complete your training and pay off the loan, the less interest you will ultimately have to pay.

   The first payment of $250 will be drawn automatically from your bank account no sooner than 30 days from the date the Loan Agreement is signed.  Withdrawals of $250 will continue on the 4th and 18th of each subsequent month until the loan is fully repaid.  The applicant may elect to pay more towards the loan if desired, at any time.

    Interest payable is calculated only on the amount drawn for training at a rate of 2% per month calculated on a per diem basis (24% per year calculated on a per diem basis). Interest will increase to a rate of 3% per month calculated on a per diem basis (36% per year calculated on a per diem basis) if you miss any scheduled payment as agreed to in your signed contract.

The maximum loan amount available to any applicant is $10,000. Such loan, after approval, will be provided to each applicant as a credit at their chosen flight training institution.  The applicant shall be responsible to repay only that amount actually used for flight training and the incurred interest. You may qualify for additional credit; contact our loan manager to discuss additional funds to complete your training.

     The total loan amount approved and provided to each applicant will NOT increase beyond the initial approved amount.  If the applicant is unable to to complete training within the approved loan, it is the sole responsibility of the applicant to find additional funds required for training. In some cases we can extend additional funds, you must discuss this with our loan manager.  Please note that most provincial student aid programs do NOT cover the costs associated with obtaining a Private Pilot License.

    The loan provided is to be used only for training or educational materials required to obtain your Aviation Licence or endorsement.  Approved costs include books, ground school costs, rental of aircraft and instructor charges.

    There are other potential loan sources (i.e.. government student aid programs) that are available to the applicant for Commercial Pilot License training after they receive their PPL.

      If the applicant wishes to continue training to achieve a Commercial Pilot License or any endorsement and does not meet provincial or federal government loan program requirements, we can assist you with our program. We are not limited to just PPL but also provide loans for CPL, IFR, Instructors rating, night, multi engine. You may make an application with us for any aviation related training.

     Any dishonoured payment is subject to a $50 service payment.  The service payment and the bimonthly payment are to be deposited by money email transfer within 24 hours after the applicant has been notified of payment default, by text or email, in order to maintain your account in "Good Standing".  If the applicant fails to follow these late payment guidelines,  the Lender will immediately suspend the applicant's credit and no further monies will be available for flight training until all back payments have been received. Furthermore, if you qualified for a preferred rate, the interest we charge will increase.

     If, for any reason, the applicant believes that his/her payment will be returned due to insufficient funds, please contact the Lender immediately by email.  Any late payment is still, however, subject to the late penalty service charge. We require 10 days notice to stop a draw.

      If the applicant decides, at any time, to suspend training, the financial obligation to repay the loan will continue until such loan and associated interest charges are paid in full. 

    Student Aviation Financial Enterprises (the "Lender") is an independent company using private funds. The Lender will provide a credit account for the applicant at his/her flight training facility but such facility has no consideration for your loan application and has no responsibility as to the loan obligations. Failure to fulfill your loan obligations will result in the immediate stoppage of your account at the flight training facility.