Next Level Aviation® Secures $50MM Credit Facility with PNC Bank - PR Newswire APAC
Summary
The new working capital credit facility will be used to grow its existing USM distribution business and diversify product and service offeringsDANIA BEACH, Fla., Dec. 10, 2024 /PRNewswire/ -- , a leader in the global distribution of used serviceable materials (USM) for all Boeing and Airbus commercial aircraft and associated jet engine platforms, has secured a new $50MM revolving credit facility with PNC Bank with the potential to expand this facility over time as NLA grows. This significantly increased working capital credit facility will allow Next Level Aviation\xae to expand its inventory of serviceable material, as well as support the diversification of NLAs business into other complementary lines of business.Next Level Aviation\xae Chairman & CEO Jack Gordon stated, "We are extremely pleased to work with PNC Bank, one of the largest diversified financial services institutions in the United States, to close this new working capital credit facility, which is the first step in laying the financial foundation for Next Level Aviations next phase of growth. We look forward to continuing to provide this recognized global supplier of aerospace parts with financial products and strategies that can help deliver differentiated value to its customers. Next Level Aviation\xae specifically focuses on stocking USM for the Boeing 737 and Airbus A320 families of aircraft and their associated jet engines, which currently make up about 70% of the global commercial fleet. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.