A Serial Entrepreneur’s New Business
In 2019, Flatbay's client decided to invest in a new venture, placing their headquarters in Austin. The commercial building is used to support several businesses in beverage hardware, lighting and commercial product distribution. However, the company is a relatively new organization with limited historical revenue, rendering banks unable to help with the loan. To tap into the equity of their free and clear property to support the working capital needs and accelerate business growth, Flatbay Capital provided them with a $2.5MM CRE loan. We are happy to announce that they have successfully exited in March. We wish this entrepreneur nothing but the best.
Family-Operated Roofing Company
For over two decades, the family-operated roofing business has upheld the values of passion, quality, family, and integrity, which has boosted it to be one of the top competitors in the region. However, with an unexpected drought that brought little to no work and a large overhead, their profitability suffered. That’s when Flatbay Capital stepped in and provided a $1MM CRE loan that paid off existing debt and allowed for cash out. We are very excited to announce that they exited Flatbay in June of this year and continues to prosper.
Houston Pipe Coating Company
Flatbay's client is a family-owned business that started in 1972 and has become the leading provider of internal and external pipeline coating systems. However, due to the downturn in the energy industry, combined with SG&A overruns, the company was not profitable for several years. As a result, they reached out to Flatbay Capital, and we provided a $7.5MM sale-leaseback. We are proud to announce their exit in August! We can't wait to see them boom in the new year.
San Antonio Auto Repair Shop
Our client is a San Antonio-based auto repair shop that repairs domestic, Asian and European cars. The company was showing positive trends in cash flow coming out of the Covid era. However, in 2022 the owners took on merchant cash advance loans with high interest rates and aggressive amortizations. They were not fully prepared for the high cost of the merchant loans. So, Flatbay Capital provided a $2.2MM CRE loan to pay off the incumbent lender, the merchant cash advance lenders, and provide additional cash-out for working capital. We are delighted to announce their successful exit in October. We can’t wait to see the shop continue to flourish in 2025.
Texas Importer of Mexican Avocados
Flatbay's client is a third-generation family-owned avocado producer and distributor with real estate based in Texas. The company started in 1974 and has grown its influence globally. In 2022, the business hit a slow period and profits dropped. The avocado producer’s banking institution decided to exit the lending relationship but not before contacting Flatbay. We were able to supply the avocado company with a $1.7MM CRE loan and are glad to announce their successful exit in November.