TSL Express Daily News
The Secured Lender
SFNet's Factoring & Supply Chain Finance And Great Places To Work Issue
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July 17, 2024
Source: Flatbay Capital
About the Company
Founded in 1978, the client is a Texas-based mechanical contracting firm that offers equipment and services to bulk liquid storage terminals and the pipeline industry.
The firm has also expanded its offerings to include products and services for midstream and downstream oil and gas sectors such as: fabrication of oil measurement units, construction for all types of terminal operations, parts and equipment sales, and general meter maintenance, calibration and repairs.
The Situation
In 2023, the client was thrown an unexpected curveball when the operating facility they rented was put up for sale by the owners. Seeing the opportunity to expand, they purchased property on the same street to be used as their new facility.
However, the volatility of the oil and gas industry scares off many banks, even for a company in business for 40 years. Their national bank decided to close their line of credit due to industry risk.
In need of a working capital line more than ever, the contracting firm was referred to Flatbay Capital.
The Solution
Flatbay Capital BDO, Lili Tafilaj, worked closely with the company’s owners to understand their needs and goals, and created a financing solution that provides a $1MM commercial real estate secured line of credit for working capital to expand their facility.
It was a delight to work with them and we're glad the experience was shared.
"...You two are so down to earth and easy to speak with,” our client said to Lili Tafilaj and Jorge Puig. “It was like, these are bankers? I know behind the scenes, it’s a solid organization, too. You all are doing a lot of good with your banking talent. So unique to me. I’m glad I discovered Flatbay!”
Here at Flatbay, we value not only the result, but also an experience of professionalism and authenticity. We can’t wait to see this company’s facility expansion and their projected growth for 2024!
Founded in 1978, the client is a Texas-based mechanical contracting firm that offers equipment and services to bulk liquid storage terminals and the pipeline industry.
The firm has also expanded its offerings to include products and services for midstream and downstream oil and gas sectors such as: fabrication of oil measurement units, construction for all types of terminal operations, parts and equipment sales, and general meter maintenance, calibration and repairs.
The Situation
In 2023, the client was thrown an unexpected curveball when the operating facility they rented was put up for sale by the owners. Seeing the opportunity to expand, they purchased property on the same street to be used as their new facility.
However, the volatility of the oil and gas industry scares off many banks, even for a company in business for 40 years. Their national bank decided to close their line of credit due to industry risk.
In need of a working capital line more than ever, the contracting firm was referred to Flatbay Capital.
The Solution
Flatbay Capital BDO, Lili Tafilaj, worked closely with the company’s owners to understand their needs and goals, and created a financing solution that provides a $1MM commercial real estate secured line of credit for working capital to expand their facility.
It was a delight to work with them and we're glad the experience was shared.
"...You two are so down to earth and easy to speak with,” our client said to Lili Tafilaj and Jorge Puig. “It was like, these are bankers? I know behind the scenes, it’s a solid organization, too. You all are doing a lot of good with your banking talent. So unique to me. I’m glad I discovered Flatbay!”
Here at Flatbay, we value not only the result, but also an experience of professionalism and authenticity. We can’t wait to see this company’s facility expansion and their projected growth for 2024!
