The Situation:

A family-owned pharmacy was behind on AP, specifically their drug bill. They approached their lender to tap into the equity of their property but the bank was unable to help because they did not hit the cash flow coverage metrics required.

The Solution:

Flatbay Capital paid off the bank and provided the pharmacy with cash out to help pay vendors. Additionally, Flatbay was a transition lender so the pharmacy could position itself for a buyout by a large national pharmacy.