The private credit firm Flatbay Capital formed its 2024 – 2025 expansion initiative to broaden its market reach and visibility. Managing partners Elliot Smith and Jorge Puig spearheaded the movement by promoting and hiring several employees in Arizona, Central Texas, Colorado, and Georgia.
The company now has boots on the ground in Austin, Atlanta, Denver and Phoenix, in addition to existing markets in Dallas-Fort Worth, Houston and San Antonio.
“This expansion is the next step in our journey to becoming a national leader in the non-bank owner-occupied CRE lending space,” Smith said. “The last five years we’ve seen consistent portfolio growth and we definitely have a capable team to execute this. Our mindset is: the more people who are aware of us the more businesses we will be able to help with our innovative CRE lending products.”
The expansion plan started in Q3/24 with the promotions of two business development officers, Scott Deal, Central Texas market president and Adam Gwin, Dallas-Fort Worth region manager. The goal is for them to create and manage a team in their respective regions. In Q4/24, Flatbay added four new hires — a BDO in Austin, Arizona and Georgia, and a new marketing representative position in Dallas-Fort Worth.
“2024 was a year of growth for everyone at Flatbay,” Puig said. “We pushed ourselves to go the extra mile and that’s our mindset for 2025. We have the capital, it’s just about finding those businesses that need our help. Then, in 2026 and beyond, we can further expand into the top twenty-five markets.”







