Flight Power Repair Group has found that, when growing a business, every need requires its own unique solution.
The aviation services company has used three types of commercial loans to improve productivity, increase sales and expand operations.
“All three play into the end product,” President Mario Galego, Jr. said, noting Flight Power has grown by more than 35% annually for the last three years.
Flight Power’s leaders plan to keep growing rapidly by combining the benefits of having a line of credit that provides working capital for day-to-day efficiency, an equipment loan that allows the company to offer more services and a business loan that funds a new facility.
“Our major focus is to continually increase productivity while increasing the capability to add new products,” said Frank Galego, Flight Power’s vice president and chief marketing officer.
Based in Doral, Flight Power provides maintenance, repair and overhaul solutions for the aerospace and industrial markets. It specializes in the repair and overhaul of commercial jet engine components made by leading manufacturers and offers repair and overhaul services for industrial turbine components as well.
Flight Power’s leaders credit Miami-based International Finance Bank (IFB) for helping them secure the equipment loan and other solutions for growing their business.