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New Deal Announcement ~ Flatbay funds $4.3MM to Oil and Gas Manufacturer

Flatbay Capital announces the funding of a $4,300,000 commercial real estate loan for a research & development, engineering, and testing company that supports the energy industry.

Texas-based commercial transportation and limo company
Oil and Gas Valve Manufacturer

The Situation?

In business for 20 years, our client was faced with its most challenging year yet. The company spent years developing a new product line and the release happened right before Covid. The main contributing challenge was due to revenue loss during Covid and a temporary downturn in the oil and gas industry. The company’s relationship with a national bank ended when they were moved to special assets and required to pay off the letter of credit (LOC) due to small losses the company incurred in 2021.

 

We Engineered the Right Solution!

Cash flow from operations combined with the debt restructuring will support the client’s business while it rebounds. Our client had historically been profitable for many years and we fully believe they will be again. Our solution comprises a 3-year interest-only term note, with a meaningful cash-out. The combination of the interest-only payment and additional liquidity is just what our client needed to help their business get back on track. In addition to providing much-needed liquidity our facility is very flexible, has no financial covenants, and the client can go back to bank financing whenever they are ready.


The company made substantial progress in 2022 and is ramping up rapidly for a successful 2023. They have new contracts in place, and 2023 is projected to be their best year ever. Flatbay Capital is filling a near-term void by funding a bank payoff as well as a $2MM+ cash-out, funded directly to the borrower. Within the next 18 months, they are very likely to become bankable once again.


Flatbay Capital LLC specializes in non-bank commercial real estate loans/lines $1MM+ secured with owner-occupied commercial real estate.

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“One of the main reasons I joined Flatbay Capital was to help the small business owner during a distressed time within their business cycle. It brings me such great joy to know that we have helped equip another great company to position itself to achieve a successful turnaround! We are here to help!” - Vivian Thompson

 

Auto Repair Business

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$2.5 million

Roofing Business

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$900,000

​Coffee Distribution

Austin

$2.7 million

 

Real Term Sheets + Competitive Terms + No DSC Requirements


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