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Flatbay Capital Funds $2.2MM CRE Bridge Loan for Automotive Company

June 12, 2023, 06:00 AM
Filed Under: Automotive
Related: Flatbay Capital

Flatbay Capital announced the funding of a $2.2 million Owner Occupied CRE Bridge Loan for a Central Texas-based automotive organization.  The 15-year-old company provides repairs for domestic, Asian, and European vehicles.

The Texas-based automotive company experienced positive trends in cash flow as the covid era came to an end. However, in 2022 the owners took on merchant cash advance loans with high-interest rates and aggressive amortizations hindering the company’s cash flow.

Flatbay offered debt consolidation as a solution to the client's financial difficulties. The term loan paid off the incumbent lender, the merchant cash advance lenders, and also provided additional cash out for working capital. Even with new monies advanced, the solution resulted in an increase of $35,000 in monthly cash flow for the client. This injection of funds will help to improve the financial situation of the client, provide more flexibility and allow them to focus on carrying out their plan to boost sales back to pre-covid levels.

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