Thread: Key Bank Loans
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Old 03-10-2008 | 10:22 AM
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LeoSV
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Originally Posted by SkyHigh
I wonder if the credit crunch will have an effect on the number of new pilots? It is no fun to have to earn the money first.

SkyHigh
Yes, it will. It already has with Silver State Helicopters. They expanded locations and bought some more helicopters because they had a decent business model. They had their rough times, but they were still making some money. Now that it's much harder to get a huge loan, like for pilot training, the amount of students is decreasing simply because they cannot get a loan, and not many people have $80K in the bank to start career training. Anyhow, Silver State closed it's doors about a month ago nationwide because of the sudden decrease in new students. An direct result of the credit crunch.
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