Getting an SBA Loan for Aircraft Engine and Engine Parts Manufacturing

Looking for commercial loans for aircraft engine and engine parts manufacturing? An SBA loan may be just what you've been looking for. This $50,000 aircraft engine and engine parts manufacturing loan was issued by a Connecticut bank.

This business knew how to go about getting a business bank loan. Based in Bridgeport, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Webster Bank, based in New Haven, Connecticut.

SBA Loan Borrower

COMPANY TYPE: AIRCRAFT ENGINE AND ENGINE PARTS MANUFACTURING
BRIDGEPORT, CT 06604

SBA Loan Lender

WEBSTER BANK
80 ELM ST
NEW HAVEN, CT 06510

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336412 - Aircraft Engine and Engine Parts Manufacturing

Loan Approval Date

8/8/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Webster Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Startup Funding Tip

SBA Approved Banks in New Haven, Connecticut

Connecticut SBA Bank Lenders