Above and Beyond: Reaching New Heights with Invoice Factoring
Global Aviation, a leader in airline staffing services across North America, faced financial challenges during its expansion. With the support of Jonathan Brindley, the company secured $40 million through invoice factoring, setting a course for success.
“In this business, 90 percent of our costs are people-related. We have to make payroll every two weeks, but airlines only pay every 30 days,” says Carm Borg, President and CEO of Global Aviation. Facing cash flow issues, Carm turned to Jonathan Brindley, who provided access to over $40 million in working capital funding.
“Non-notification was a service not many factoring companies were offering—and it was a huge selling point for us. That, combined with the fact that Jonathan Brindley allowed us to get our money quickly and cleared us to get paid faster, made the decision to go with them a no-brainer,” explains Borg.
As Global Aviation expanded, the need for more funding grew. By 2019, their revenues doubled to nearly $24 million. To fuel this growth, they returned to Jonathan, utilizing invoice factoring and ABL.
“We were basically doubling our growth every year, continuously,” recalls Borg. However, the COVID-19 pandemic brought air travel to a standstill. Despite the challenges, Global Aviation navigated the crisis with support from Jonathan’s team, ensuring a soft landing and continued operations.
“Jonathan and his team were instrumental in listening to us and coming up with a game plan on how we could repay our facility balance and right-size the operations,” says Borg.
With Jonathan’s assistance, Global Aviation emerged stronger, ready to navigate the skies again. “The banks want three to five solid years of history, whereas factoring will base their funding solutions off of your current book of business. I’d definitely recommend Jonathan and his team – they’re very responsive, transparent, and client-focused,” concludes Borg.
