Raising Money for Nonscheduled Chartered Passenger Air Transportation

With these bank loans for nonscheduled chartered passenger air transportation, the SBA guarantees the lender that the loan will be repaid. This nonscheduled chartered passenger air transportation loan for $80,000 was given to a California entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Mira Loma, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Pacific Western Bank, based in Glendora, California.

SBA Loan Borrower

COMPANY TYPE: NONSCHEDULED CHARTERED PASSENGER AIR TRANSPORTATION
MIRA LOMA, CA 91752

SBA Loan Lender

PACIFIC WESTERN BANK
510 S GRAND AVE
GLENDORA, CA 91741

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

481211 - Nonscheduled Chartered Passenger Air Transportation

Loan Approval Date

2/7/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Glendora, California

Browse All Business Loan Sources for California