BANGOR – The Telford Aviation Group, a Bangor-based aircraft maintenance and charter service, has been approved for a $4.7 million federally guaranteed loan that could help the company expand its operations.

“Investments like these pay off with enhanced job opportunities and improved economic circumstances – particularly for companies like Telford, which link Maine’s commercial airports with more rural airfields throughout the state,” said U.S. Sens. Olympia J. Snowe and Susan M. Collins on Friday.

Company CEO Telford Allen III said the loan through Machias Savings Bank will be used to refinance the company’s 12 commercial aircraft, improving the finances for the company as it expands.

He said Telford recently increased its operations space from 35,000 square feet to 45,000 square feet, allowing it to double its ability to do aircraft maintenance.