Next Level Aviation (NLA) has secured a significant increase in its revolving credit facility with PNC Bank.
The credit facility for NLA’s US-based parent company will increase from $50 million to $75 million, while NLA’s Irish subsidiary will have access to an additional $5 million revolving credit facility.
Both credit facilities are for working capital purposes and have the potential to expand in line with NLA’s growth plans, the company said.
NLA will leverage the credit facility to increase its inventory of serviceable material, continue to expand its geographic footprint, and support its diversification into other complementary lines of business.
"We are very appreciative that PNC Bank has the confidence in NLA's global business model to increase our total access to asset-based credit by 60% in less than one year of working together,” said NLA chair and CEO Jack Gordon.
NLA is a distributor of used serviceable materials (USM) for all Boeing and Airbus commercial aircraft and associated jet engine platforms.
The company is focused 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.