Borrowing Money for Aircraft Engine and Engine Parts Manufacturing

With these 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 Michigan entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Rapids, Michigan was able to borrow $1,330,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $997,500 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: AIRCRAFT ENGINE AND ENGINE PARTS MANUFACTURING
GRAND RAPIDS, MI 49504

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

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

7/11/2002

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 115 employees. The loan application indicated that the loan would help generate 30 new jobs and retain 115 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Getting an SBA Loan in Texas