Flatbay Capital Funds Commercial Transportation Company in Five Days

Just days before Christmas, 2022 Flatbay Capital LLC closed the fastest loan in Flatbay Capital’s company history, from term sheet signing to funding in five days, The deal was a $6,960,000 owner-occupied CRE loan for a Texas-based commercial transportation company.

Due to bank covenant violations, the client’s credit line with their existing bank was frozen. In addition, the owner-occupied CRE note matured and was not eligible for renewal.  The operating entity was not bankable due to losses experienced during the pandemic. Flatbay Capital's solution comprised a three-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, the facility is very flexible, has no financial covenants, and the client can go back to bank financing whenever they are ready. 

Flatbay Capital business development officer, Vivian Thompson, lead this deal and was key to closing the fastest loan in our company history, from term sheet signing to funding in five days.  Flatbay Capital is very proud of how its team performed under pressure to meet the client's needs.        

Read the full deal announcement here.

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