The Situation:

The family-owned hardware company hit hard times after losing their main supplier and over-expanding themselves. This landed the company in their bank’s special assets group where they could not use their real estate equity to carry them through the difficult situation.

The Solution:

Flatbay Capital converted their note to a $4.4MM CRE line of credit so the hardware store could use the interest cost savings. This was critical due to the business's seasonality.