Queue
Portfolio
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Committed
$184.0M
12 facilities
Outstanding
$121.4M
▲ +$2.8M w/w
Availability
$38.6M
▲ +$1.1M
Utilization
66.0%
▲ +0.9pp
Weighted yield
11.42%
▲ +0.18pp vs Jun
AR > 60d
8.1%
▲ +0.4pp
Open exceptions
14
4 block funding
Avg BBC age
19d
2 stale over 30d
Health board
1 breach
2 warnings
$1.2M blocked
Facility
Risk grade
Worst covenant
Open exceptions
Blocked $
Status
Acme Steel
6
FCCR 0.96×
AI
3
$310,000
Breach
Harbor Textiles
5
Min liq +$92K
CV
1
$88,500
Warning
Vantage Logistics
4
Leverage 0.3×
CV
2
$412,000
Warning
Bluewater Foods
3
DSCR 1.9×
CV
0
$0
Compliant
Redwood Precision
⏱ stale
—
—
1
$118,200
⏱ Stale 41d
Concentration
Debtors registry
Summit Auto Group
26.4%
Meridian Retail Co
18.2%
Pinnacle Health
13.1%
Industry:
Mfg 42%
Region:
Midwest 38%
Top-5 share:
61.9%
Maturity & capacity
$2.1M
Aug
$0
Sep
$3.2M
Oct
$0
Nov
$0
Dec
$4.5M
Jan
$3.4M
H2 '27
Scheduled maturities ·
$2.1M in Aug
needs a renewal decision
Warehouse line A
$14.6M / $20.0M
WHA
Fund II equity
$6.2M / $10.0M
CAP
Available to deploy:
$9.2M
Yield
Weighted portfolio yield
11.42%
+0.18pp vs June · SOFR +5.9 avg spread
2024 vintage
12.1%
2025 vintage
11.3%
2026 vintage
10.9%
2023 and earlier
—
No fee-yield breakdown yet
Interest yield only until fee accrual ships.
Borrowing base vs outstanding
Feb–Jul · $M
Feb
Mar
Apr
May
Jun
Jul
$184.0M base
$121.4M drawn
Outstanding
Committed base
Headroom
$62.6M
Utilization by facility
cap 90%
Acme Steel
95.0%
Vantage Logistics
88.2%
Harbor Textiles
81.4%
Ridgeline Provisions
63.3%
Bluewater Foods
58.7%
Redwood Precision
44.1%
Over cap:
1
Within 5pp:
1
Median:
72.4%
Portfolio AR aging mix
eligible $121.4M
Current
62%
$75.3M
1–30
21%
$25.5M
31–60
9%
$10.9M
61–90
5%
$6.1M
90+
3%
$3.6M
Ineligibles carved before advance:
$14.2M
· dilution
2.4%
within the 5% cap
Collections & DSO
last 8 weeks
W1
W2
W3
W4
W5
W6
W7
W8
DSO 41d
Weekly collections
DSO
8-wk total
$75.4M