About the Company: For 22 years Flatbay's client, IBC Advanced Alloys, has manufactured beryllium and copper alloys to a variety of industries, becoming a leading expert in their field.

The company’s mission is to produce the highest quality products in both the defense and commercial sectors, providing long term value to their customers and shareholders.

The Situation: In 2023, IBC experienced a decrease in profit margins due to two reasons: metal costs and existing customer contracts. Unfortunately, metal prices have risen because of the current economic downturn, forcing businesses to pay more out of pocket.

Along with the increase in supply cost, they needed to free up working capital to solve their inventory needs relating to their manufacturing backlog.

With prior year losses and continued margin decrease in 2024, the alloy manufacturer was deemed unbankable to the finance sector.

So, they turned to Flatbay Capital.

The Solution: Flatbay Capital listened to the wants and needs of the client and tailored a deal that met both.

“We gave them various options relating to their commercial real estate and the client decided on our Sale Leaseback product,” BDO/Partner of Flatbay Capital, Steve Hanson, said.

Flatbay provided a $3.9MM sale leaseback loan to pay off their remaining loan to Sallyport and provide extra cash to finance working capital.

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