Flatbay Capital Provides a $1.4MM CRE Line of Credit to an International Company Specializing in Drilling and Excavation Services

With over two decades of experience, our client is an international company specializing in drilling and excavation services. They operate across four nations, focusing on equipment maintenance, machine sales, design and manufacturing. 

The Situation

Originally, they had a note with us from 4Q 2021 to 1Q 2023. At the time they needed funding to purchase property to set up their base operations in the US. 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, they wished to downsize. Having a great experience the first time, they reached back out to VP Business Development Officer, Vivian Thompson, to kickstart another lending relationship.

The Solution

Flatbay Capital provided a $1.4MM CRE 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,” says Vivian. “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.”

The manufacturer is on track to finish this year strong with $14MM in revenue. A big thank you to the client for partnering with Flatbay Capital! 

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