The Customer
Family Office
The Challenge
- The company requested cash out for year-end balance sheet treatment.
- There were two Phenom 300’s that needed to be refinanced. One was a cash out deal and the second had a balloon coming due.
- One of the Phenom 300’s is a specialized aircraft and it’s utilization is in aerial sequences for featured films including the movie “Top Gun Maverick.”
- Filming acrobatic runs, dog fights, low-level, and high-energy flight scenes.
- The camera equipment inside and outside the cockpit was a crucial part of getting this airplane approved and funded. Not an easy task for any lender.
Done Deal.
- This transaction was referred to me by one Family office to another family office.
- We felt comfortable immediately, knowing the family office had two high net worth individuals backing the transaction.
- After issuing the term sheet on the (2) Phenom 300’s, we were referred to an equipment transaction for $1.0M from another one of the family office businesses.
- First National approved the $1.0M equipment line on their balance sheet for GPS tracking devices. Which is not the most fungible equipment assets.
- The company was pre revenue, but FNC was comfortable with the relationship with the Family office so we funded the deal.
- We feel the Customers will continue utilizing FNC’s capital to grow their business.
Business Cycle Volatility
Wider credit appetite for companies in all phases of the business cycle.
