Memos
Memos on capital, structure, and what holds together.
Short essays on how we think about underwriting, why we structure deals the way we do, and the difference between a lender who reads your file and one who doesn't. Written for borrowers who care.
No. 01
No. 02
Why we don't quote rates online.
Indicative rates on a homepage are a marketing tool, not a financial one. Here's what a real rate actually depends on, and why anyone who quotes one before reading your file isn't underwriting your deal.
What underwriting actually checks for.
Credit score and revenue are the entry door. The questions that decide a deal are different. A breakdown of how we read a file, in order.
No. 03
When a line of credit is the wrong product.
Forthcoming.
No. 04
How an acquisition deal falls apart, and what holds it together.
Forthcoming.
No. 05
The difference between a direct lender and a marketplace.
Forthcoming.