We structure senior debt, mezzanine, bridge, and federal-program capital for healthcare, infrastructure, energy, and government-contracting operators. Underwritten around the compliance regime, not around it.
Underwriting that ignores the regime kills good projects. We underwrite the regime first.
A healthcare facility is not a real-estate project. A federal contractor is not a software company. A disaster-recovery operator is not a construction firm. The capital stack has to know that.
We do not chase deal count. We chase deal coherence. The numbers we publish are pulled from our underwriting log, not from marketing.
Traditional lenders price regulated industries off generic risk grids. They miss reimbursement timing in healthcare, draw schedules in federal grants, and ratepayer mechanics in energy. The deal that should clear at 9% gets quoted at 14% or declined entirely, because the underwriter cannot read the regime.
We sit between the operator and the capital partner with a compliance-native deal team. Every package we send out has the regulatory schedule, the reimbursement waterfall, the federal-grant draw sequence, and the audit posture pre-built. The lender does not have to learn the regime to say yes.
Deals close in weeks instead of quarters. Blended cost of capital lands 200 to 400 basis points lower than generic-product quotes. Audit findings on closed transactions sit at 2% versus a market average above 11%. The operator gets capital. The lender gets an asset with documented compliance.
A read on the stack. How we think about facility size, term, and structure for a transaction of a given shape. Indicative only, never an offer.
Senior debt and mezzanine to $25M per facility. We blend the tranches around the cash flow the regime actually produces, then size the leverage to the reimbursement or draw schedule rather than a generic loan-to-value.
Terms structured to the take-out or stabilization window. Interest-only available in the first 18 months when the cash flow ramps behind the draw, so debt service tracks the project rather than fighting it.
Reimbursement-secured structures with covenant-light terms where the documented compliance posture carries the credit. Federal grant and HUD 232 packaging is built in-house, before close, not bolted on after.
A floating base plus a spread that prices the compliance posture rather than the sector stereotype. Ranges are based on comparable transactions. Actual structuring requires diligence and is subject to credit approval, regulatory review, and final committee.
Fast-close bridge facilities to a grant draw, a contract receivable, or a refinancing window. As fast as 21 days from clean documents, sized so the operator never carries a gap the regime did not create.
When you request a conversation, you get a read on facility size, term, structure, and an indicative rate range for a transaction of your shape. Inputs stay anonymous. Nothing is stored. The real number comes after diligence.
We do not deploy into every sector. We deploy where compliance is the differentiator, the deal flow is concentrated, and the operator knows the regime cold.
Skilled nursing, assisted living, hospice, ambulatory care, and acute facilities. Reimbursement-secured structures with HRSA, HUD 232, and CMS-aware covenants. We understand the difference between a Medicaid receivable and a private-pay receivable, and we underwrite it accordingly.
Capital structured around ARPA, CDBG-DR, BIL, IIJA, HRSA, and USDA Rural Development. Draw-aligned facilities with a documented compliance posture.
Distributed solar plus storage, microgrids, and grid-edge resilience. PPA-secured cash flow with PREB and federal-credit integration.
Water, transit, broadband. Multi-source stacks blending municipal revenue, federal grant, and senior debt.
Mixed-use, Opportunity Zone, and Act 60-adjacent transactions. Construction-to-perm with audit-ready waterfalls.
Fast-close facilities to bridge to grant draws, contract receivables, or refinancing windows. As fast as 21 days to close.
Every stage has a deliverable. Every deliverable has a sign-off. The audit trail is not bolted on at closing, it is the way the deal moves.
One conversation. Operator brief, capital ask, sector posture. We say yes or no in 72 hours.
Financials, regulatory record, audit history, reimbursement waterfall, draw schedule. We build the package once, lenders read it once.
Match to the right capital partner from our 45-counterparty panel. Senior, mezzanine, bridge, or hybrid stack. Term sheet inside two weeks.
Docs, closing, funding. Then quarterly compliance reporting on our side, so the operator never sees a covenant surprise.
The team carries credentialed compliance, federal-program experience, and a documented clean audit history. We are not a referral shop. We sit at the table during diligence, at the table during closing, and at the table during the first audit.
Both, depending on the structure. For senior debt and federal programs we typically structure as a placement agent into our 45-counterparty panel. For bridge and gap capital we deploy from a discretionary facility. The disclosure on which posture applies to your transaction goes out before any term sheet.
$500K for working capital and bridge. $2M for term debt. Below that, we will refer you to a counterparty better suited to the size. Lying about minimums to win every conversation is how operators end up at the wrong lender.
Bridge: as fast as 21 days from clean documents. Senior debt: average 30 days, occasionally faster, never under 18. Federal-grant-aligned structures: dependent on the program calendar, not on us. We will tell you which window you are actually in during the first call.
Yes, when the underlying contract or grant award is documented and the regulatory posture is real. We do not finance speculation. We finance executed contracts, federal awards, signed PPAs, and operator track records that read clean.
Nothing until a term sheet is issued. On closed transactions, fees are disclosed up front and are structured to align our interest with yours. We do not collect retainers to read a deck.
One message. One conversation. Yes or no inside 72 hours. If your question is not in the FAQ, ask it in the conversation request.
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