One of our clients is an independent dealer with three successful stores in the Southwest. He is also an experienced pilot who uses that skill to give back to his community. As a volunteer for Angel Flight West he flies critically ill patients from their homes to distant medical centers where they can receive life-saving treatment. There is no charge to the patient or medical center.
But a few years ago his plane had reached the end of its service lifespan. He needed a new plane, but his best choice for the job it had to do, a Cirrus SR22, cost over $450,000. This was a huge expense despite his success in the car business.
So rather than going to a bank to finance his not-for-profit volunteer work, our client took out a loan from his Portfolio ARC to acquire the new aircraft. Now he tries to fly at least one mission a month for Angel Flight West, plus uses the plane to shop distant auto auctions where he can get the best deals for his customers.
Seeing how useful his Portfolio ARC was to his personal and business life, he refocused his attention on selling VSCs and warranties, resulting in more profits for his dealerships and more wealth in his Portfolio reinsurance company.