Flatbay Capital announces the funding of a $5,910,000 Commercial Real Estate secured line of credit (CRE line) for a large-scale commercial and industrial contractor focused on underground utilities in the Houston, Texas area.
In business for 30+ years, our client was faced with a slowdown in business primarily due to COVID shutdowns. As a result, their bank was unable to keep their debt and was forced to exit. After the pandemic, they experienced rapid growth and needed to employ staff for newly awarded infrastructure projects. With our refinance capital, they will utilize the excess funds to invest in new projects and grow their business once more.
A Tailored Solution!
Flatbay Capital extended our Commercial Real Estate line to the client, and we also partnered with an equipment lender to help us pay off the bank 100%. This forged the way for the contractor client to strengthen their balance sheet, allowing them to extract equity from their commercial real estate. The client was enabled to grow by taking on additional awarded business, with the goal of returning to a bank lending facility within the next few years.
“It’s great to be able to create a win-win scenario for all parties. The incumbent bank exited a problem credit, Flatbay was able to onboard a new client, and most importantly, the client can get back on the right path with our scalable CRE line solution. We look forward to this new relationship and believe it will be another success story." - Scott Deal
Why Flatbay Capital?
Real Term Sheets + Competitive Terms + No DSC Requirements