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The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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April 10, 2024
Source: FlatBay Capital
Flatbay Capital is proud to announce its second closing of April with a $2,700,000 commercial real estate purchase loan to help a Houston-based construction and restoration company acquire land for their new headquarters. This deal ,which was led by Houston BDO Lili Tafilaj, is secured by 12 acres of land in north Houston, which will be developed into the borrower’s operating company headquarters.
A tough situation for a good borrower
Since 2010, this WOB (woman-owned-business) has offered services to the greater Houston area, initially starting out as a general contractor and later expanding into a full-service construction and property damage restoration company. The husband and wife duo’s constant growth created the need for an additional facility to expand its current operations. While they were ready for the land purchase, they still needed time to draw up the engineering plans and specs, hence the need for alternative financing. We were approached by a bank to provide funding until the plans for the construction project are ready in 9-12 months. Based on the company's past and current success, their need for land-purchase financing presented a great opportunity to help a strong borrower.
Flatbay Capital Bridges the Gap
Flatbay Capital was able to lead with their best foot forward to get the deal done, illustrating another example of how we can help bankers maintain their current relationships while leaning on their partners at Flatbay to provide funding for companies in transition.
According to BDO Lili Tafilaj: "Flatbay was thrilled to help this profitable Houston-based construction company purchase a property for their future headquarters. Unfortunately the client had been turned down by several banks due to the fact that they wanted to self-build their own warehouse. In addition, the loan was not eligible for SBA due to an owner being a foreign national. Flatbay focused on the CRE collateral and strong cash flow, and funded the loan in under 30 days from term sheet signing. We look forward to supporting them on their entrepreneurial journey".
Flatbay Capital specializes in non-bank commercial real estate loans/lines $1MM+ secured with owner-occupied commercial real estate
A tough situation for a good borrower
Since 2010, this WOB (woman-owned-business) has offered services to the greater Houston area, initially starting out as a general contractor and later expanding into a full-service construction and property damage restoration company. The husband and wife duo’s constant growth created the need for an additional facility to expand its current operations. While they were ready for the land purchase, they still needed time to draw up the engineering plans and specs, hence the need for alternative financing. We were approached by a bank to provide funding until the plans for the construction project are ready in 9-12 months. Based on the company's past and current success, their need for land-purchase financing presented a great opportunity to help a strong borrower.
Flatbay Capital Bridges the Gap
Flatbay Capital was able to lead with their best foot forward to get the deal done, illustrating another example of how we can help bankers maintain their current relationships while leaning on their partners at Flatbay to provide funding for companies in transition.
According to BDO Lili Tafilaj: "Flatbay was thrilled to help this profitable Houston-based construction company purchase a property for their future headquarters. Unfortunately the client had been turned down by several banks due to the fact that they wanted to self-build their own warehouse. In addition, the loan was not eligible for SBA due to an owner being a foreign national. Flatbay focused on the CRE collateral and strong cash flow, and funded the loan in under 30 days from term sheet signing. We look forward to supporting them on their entrepreneurial journey".
Flatbay Capital specializes in non-bank commercial real estate loans/lines $1MM+ secured with owner-occupied commercial real estate
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