Sahal
Risk management, underwriting and monitoring
EBITDA Adjustments and Normalization: A Credit Underwriter’s Discipline Guide for Middle Market Lending
Underwriting & Risk Management | Credit Analysis
EBITDA Adjustments and Normalization: A Credit Underwriter's Discipline...
Market trends, rates, and sector insights
Private Credit at the Inflection Point: Spread Stabilization, Rising Defaults, and the SEC’s New Scrutiny — Q3 2026 Market & Sector Intelligence
Private Credit at the Inflection Point: Spread Stabilization, Rising Defaults, and the SEC's New Scrutiny
...
Deal structures, strategies and the capital stack
Mezzanine Financing for Growth-Stage Acquisitions: Structuring the Gap Between Senior Debt and Equity in the 2026 Capital Stack
The Capital Gap That Kills Good Deals
A founder-owned services company generating $4M in EBITDA...
Private Credit Fundamentals
Unitranche Innovations: How One Loan Replaced Two and Reshaped Middle-Market Private Credit
The Deal That Almost Didn't Close
Picture a lower-middle-market business owner trying to finance a $50 million acquisition. In 2008, that meant assembling two separate...
Stories of leverage, wealth creation and why smart owners don’t sell equity
The Founder Who Said No to the Term Sheet: How Private Credit Replaced VC Dilution and Kept 100% of the Upside
The Story: A Profitable Founder, a VC Term Sheet, and a Better Question
Note: The...
Risk management, underwriting and monitoring
EBITDA Normalization in Credit Underwriting: How Lenders Audit Adjusted Earnings Before Committing Capital
Underwriting & Risk Management • Bond Capital Research Desk
EBITDA Normalization in Credit Underwriting: How...
Market trends, rates, and sector insights
Bifurcated Credit: Private Spreads Stabilize at Elevated Levels as Default Risk Concentrates in Weaker Cohorts — Q3 2026 Market & Sector Intelligence
Bond Capital | Market & Sector Intelligence | October 21, 2026
Bifurcated Credit: Private Spreads...
Deal structures, strategies and the capital stack
Filling the Gap: How Growth-Stage Operators Should Navigate the Acquisition Financing Capital Stack in 2026
The Growth-Stage Financing Challenge
A growth-stage company making its first acquisition faces a capital structure...
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