In a few cases the school may be new. If a representative from the school contacts us at (800) 667-0201, we can typically have them set up to offer our programs within a week. However, there may be valid reasons why a school does not, or cannot, offer our programs. These reasons include:
- A flight school may be satisfied with their current level of business activity.
- The type of training primarily offered by the school may be incompatible with our financing. Examples of these can include accelerated training or programs too small to finance.
- The school may not agree to escrow training funds. We set aside all unused training funds in an escrow-type account. This protects the student if a school closes, does not deliver the training services in a satisfactory way or claims the student has taken training that he or she may not have actually received. Under our programs, flight students sign for all training events and expenses to indicate they have satisfactorily received the service. Schools that demand up-front payment, or require large “blocks” of funds in advance, cannot offer our finance programs because Pilot Finance will not agree to leave flight students financially unprotected.
- The school is unwilling to fulfill their administrative responsibilities under our financing. This is very rare, but for some schools our requirements may not fit well with their current operating model.
- The school has an unsatisfactory record with Pilot Finance. Although it is extremely rare, there are a handful of schools for which Pilot Finance has withdrawn our programs due to customer or administrative issues on prior transactions.