NAS Corporation secures six-figure CBILS loan to support the business through COVID-19
NAS Corporation, a specialist aviation firm based in Salisbury, has secured a six-figure CBILS loan from Santander UK to help the business through the challenges presented by COVID-19.
The company provides solutions and project management to the airline, air freight and cargo industries, often to extreme destinations. Due to significant travel disruption caused by COVID-19, one of NAS Corporation’s largest contracts – transporting an annual expedition party to the North Pole and operations into Antarctica– had to be cancelled.
The aviation industry has been one of the hardest hit by the pandemic, with supply chains shattered and everchanging travel restrictions being imposed in countries around the world. The six-figure CBILS loan has helped the business to focus on its digital content strategy, with the introduction of a new podcast series and Aviation projects assisting manufacturing and agricultural projects worldwide. The facility has also helped the business meet ongoing cashflow commitments.
In addition to providing financial support to the business, Santander UK onboarded the business to its Trade Club portal, a community of importers and exporters in over 60 countries. Through this network, NAS Corporation has been introduced to prospective clients and suppliers. NAS has also benefited from specific sector support from Santander’s aerospace specialist Halil Badevi who has also made international introductions to support their business development.
Nick Smith, Director, NAS Corporation, said: “The team at Santander UK provided a swift and diligent service. The Trade Club is a great way to connect with potential suppliers and customers, and the team were keen to find potential contacts for us. Over the last 20 years we have used a number of banks in the UK, and without a doubt the support we have received from Santander has been superior. Santander was the first bank to offer us a relationship manager. Knowing we have an actual person to speak to in times like these makes a huge difference.”
Martin Keighery, Relationship Director, Santander UK, added: “COVID-19 had a significant impact on the global aviation industry, with flights grounded and supply chains damaged practically overnight. Despite the recent hardships, NAS Corporation has adapted quickly and made great strides towards building relationships with new clients in markets around the world. The UK has long been a global leader in aerospace, and we are delighted to help support such a renowned business in weathering this storm.”