Manufacturer of Industrial and Commercial-Grade Battery Systems Funded

Flatbay Capital LLC is happy to announce the funding of a $5,550,000 Owner Occupied CRE Bridge Loan for a manufacturer of advanced industrial and commercial-grade battery systems in Ohio.

Backed by a substantial investment from a $3B single-family evergreen fund, our client is currently in a "near revenue" phase and forecasting positive EBITDA in 2023. With their next capital raise on the horizon, in addition to a pending loan subsidized by the Department of Energy, access to interim working capital was needed to fulfill orders for large blue chip contracts.

Congrats to Emily Rommel on this closing and a big thank you to the client for partnering with Flatbay Capital LLC! The client was not quite ready for bank financing but will be in the near term. With zero existing debt on the owner-occupied CRE, we extracted equity from the client’s asset, providing a 3-year interest-only term loan with flexible terms tailored to fit their needs.

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

Check out the full deal announcement at here.