Local Leadership, Global Impact: Pathfinder’s SSBCI Journey
Pathfinder Aviation, LLC, an Anchorage, Alaska-based helicopter service company, has reached new heights thanks to a successful partnership with Northrim Bank and the Alaska SBDC’s State Small Business Credit Initiative (SSBCI) program.
Pathfinder Aviation provides vital helicopter services in remote and challenging environments, supporting activities like mineral exploration, fire suppression, scientific research, the oil and gas industry, and even heli-skiing. Their specialty lies in precision transporting personnel and cargo, particularly focusing on the safe delivery of external loads.
Pathfinder Aviation’s success is fueled by a strategic financing package provided through the SSBCI program. Through this program, Jennifer McLay, Vice President and Commercial Loan Officer with Northrim Bank partnered with Pathfinder to offer term loans and a line of credit.
This funding served a dual purpose. First, it allowed Pathfinder to refinance its helicopter fleet, ensuring it had the most up-to-date and reliable equipment for demanding tasks. It also helped create 18 new jobs, strengthening Alaska’s economy and local community. Second, and significantly, the funding provided critical working capital to support an exciting expansion: a contract with the National Science Foundation to provide helicopter support in Antarctica.
The contract requires outfitting several helicopters specifically for the harsh Antarctic environment. It further supports the movement of these helicopters, personnel, and equipment from Anchorage, Alaska, to McMurdo Station, Antarctica – a journey of nearly 9,774 miles in a straight line. However, due to logistical limitations, a direct flight is not possible. The journey will involve multiple stops by land and sea, likely refueling and resupplying in different countries. This complex relocation process underscores the unique challenges and commitment required for Pathfinder’s Antarctic operations.
Rogan Parker, Pathfinder Aviation CEO, highlighted the partnership’s significance: “Northrim Bank worked diligently with the SSBCI program to develop a creative financing package under unique circumstances. Their dedication to local companies has truly helped position Pathfinder as a strong employer across the state of Alaska and around the globe.”
Pathfinder Aviation’s dedication to safety, precision, and exceptional service, coupled with the support of the SSBCI program and Northrim Bank, has positioned it as a leader in helicopter services. Their story is a testament to the power of collaboration in driving local economic growth and innovation. Learn more about Pathfinder Aviation at www.pathfinderaviation.com.
