Getting an SBA Loan for Aircraft Engine and Engine Parts Manufacturing

With these commercial loans for aircraft engine and engine parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This aircraft engine and engine parts manufacturing loan for $1,330,000 was given to a Texas entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Citibank, out of Dallas, Texas. The loan was granted and they received $1,330,000 to help grow their Dallas, Texas business.

SBA Loan Borrower

COMPANY TYPE: AIRCRAFT ENGINES AND ENGINE PARTS
DALLAS, TX 75211

SBA Loan Lender

CITIBANK
8401 N CENTRAL EXPWY, STE 100
DALLAS, TX 75225

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3724 - Aircraft Engines and Engine Parts

NAICS Code

336412 - Aircraft Engine and Engine Parts Manufacturing

Loan Approval Date

5/31/2001

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

Where to Get an SBA Loan in Dallas, Texas

SBA Texas Lenders