More than half of Greg Renna’s customers have asked him if Center Capital Corp. is “still giving out money.”
“Our response is that we’re still going strong,” said Renna, who serves as senior vice president of the general aviation finance division. Center Capital is wholly owned by Webster Bank, a member of the FDIC. Webster has in turn assured customers of its prudence while other lenders have gummed-up credit, adding that it not only remains fluid but exceeds the FDIC definition of “well-capitalized” by $470 million.
“Hopefully, people will see this article and know that we’re pretty stable,” said Renna, who invited NBAA attendees to Booth No. 5430 to hear more about financing options for both Part 91 and Part 135 equipment.
Center Capital offers creative packages that are convertible from a variable to a fixed rate, and assumable by another borrower, and also portable to another aircraft, though Renna said that, given historic low rates, most financing in the last year has been at conventional fixed terms.