OCEAN BANK PROVIDES $4.9 MILLION FOR AVIATION COMPANY
Ocean Bank Provides $4.9 Million For Aviation Company
Ocean Bank announced it has loaned $4,875,000 to AVCOM Avionics and Instrument Inc., a nationwide parts and service provider of airplane components and instruments.
The loan to AVCOM and principal Carlos Pol, is 75 percent guaranteed through the Small Business Administration 7 (a) program. It will provide working capital for expansion and to refinance debt the company took on when the present owners purchased the company in 2021, said Oscar Mendez, Senior Vice President / SBA Lending Manager at Ocean Bank.
“This loan provides a great opportunity for the customer to expand his customer base,” Mendez said.
AVCOM, which has serviced the aviation industry for 33 years, is capable of supporting Boeing, Airbus, CRJ, and ERJ aircraft.
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