Tag

structured credit

6 insights

Three panels comparing the annual share repurchase obligation against free cash flow at an employee-owned firm. In year one it is $1.2 million against $3.0 million, or 40 percent. In year five it is $2.32 million against $3.65 million, or 64 percent. In year ten it is $4.73 million against $4.65 million, or 102 percent.

The ESOP Bill Nobody Sized

An employee-owned engineering firm buys back $1.2 million of shares this year and $4.7 million in year ten, against free cash flow that grows from $3.0 million to $4.65 million. The obligation is certain, dated, and rarely financed.

Financing Strategy Borrower Advisory

Five horizontal bars of new money available to the same food manufacturer: a revolver increase at $800,000, an asset-based refinance at $1.4 million net, a cash-flow term loan at $2.8 million, structured junior capital at $4.0 million and an equipment sale-leaseback at $4.1 million, against a $4.0 million obligation due in 90 days.

Financing an Obligation Instead of an Asset

A food manufacturer owes $4 million in 90 days with nothing new to show for it. Five funding routes against the same balance sheet produce $800,000 to $4.1 million, and only two of them close in time.

Financing Strategy Borrower Advisory

A two-point comparison of what it costs to raise $6.1 million against a $30 million family manufacturer. Selling a 31 percent stake under a deadline gives up $9.38 million of business value. Financing the same amount over five years costs $1.68 million of interest.

The Estate Tax Is Due in Nine Months. The Estate Is the Business.

A family owes $7.6 million of estate tax nine months after the founder's death, with $1.5 million of cash and a $30 million manufacturer. Selling a stake under the deadline gives up $9.4 million of value. Financing costs $1.68 million.

Financing Strategy Borrower Advisory

Two point range chart showing the asset-based finance market estimated at more than $6.1 trillion on 2024 data and projected to reach $9.2 trillion by 2029, an increase of roughly $3.1 trillion.

Capital Reorganized Around Collateral. Your Contracts Are Collateral.

Asset-based finance was estimated at more than $6.1 trillion on 2024 data and projected to reach $9.2 trillion by 2029. Inside it are mandates written for contracted and intangible cash flows rather than for hard assets.

Capital Markets & Trends Borrower Advisory

Stepped line chart of open workstreams by elapsed week for two structurings begun the same day: a $5 million receivables facility starting with three workstreams and closing in six weeks, and a $30 million mixed-collateral facility starting with eleven and closing in eighteen.

Six Weeks or Eighteen Weeks. Same Start Date.

Two principals began structuring on the same Monday. A $5 million facility against receivables closed in six weeks. A $30 million facility against mixed collateral took eighteen. Where the twelve extra weeks actually go.

Business Case & ROI Borrower Advisory

Ordered horizontal bars showing the net percent of surveyed lenders that eased each commercial and industrial loan term in the second quarter of 2026, led by spreads over cost of funds at 25.0 percent, then credit line size at 17.9, cost of credit lines at 12.7, maturity at 5.4, covenants at 3.6, and collateralization at 1.8.

The Terms Improved. Capturing Them Is the Work.

A net 25 percent of surveyed lenders narrowed spreads on middle-market loans last quarter, and six of eight tracked terms moved the borrower's way. Complex, regulated, and non-sponsor situations capture that only if the file fits the mandate.

Capital Markets & Trends Borrower Advisory

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