Flatbay Capital provided a $1.4MM CRE line of credit to a returning client.
Originally, the client had a note with Flatbay Capital from Q4/21 to Q1/23. At the time the company needed funding to purchase property to set up its base operations in the United States. However, the manufacturer realized that the labor force needed to run a production and distribution facility in the United States was more expensive and less efficient compared to their international counterparts.
Therefore, the company wished to downsize and reached back out to Vivian Thompson, vice president, business development officer at Flatbay Capital, to kickstart another lending relationship. The client used the line of credit to purchase a smaller property with any additional cash used for working capital.
“This client understands the value of working with an alternative lender who brings professionalism, creativity, and ease to the process,” Vivian said. “Having experienced our flexible and relationship-driven approach firsthand, they came back knowing we could deliver a customized structure that made sense for their evolving business needs.”
