This page describes our framework honestly: what we do to control risk, and what remains outside anyone's control. Private credit investing can result in loss of principal.
A dedicated credit desk analyzes each originator's financials, origination model, historical performance, and servicing operations. Every facility receives a risk score before approval.
Facilities are secured against receivable pools with defined advance rates, eligibility criteria, and covenants. Concentration limits cap exposure by originator, sector, and region.
Monthly borrowing-base testing, covenant tracking, and collections reconciliation. Independent collateral review and third-party valuation rights.
Bondflow holds junior exposure in its own structures, so our capital absorbs losses before investor capital in the priority waterfall.
It cannot guarantee outcomes.
Underwriting reduces the probability of loss; it does not remove it. Target yields may not be achieved.
It cannot make notes liquid.
There is no secondary market. Plan to hold to maturity.
It cannot remove macro risk.
Recession, currency moves, and regulatory change in any of our markets can impair collections regardless of underwriting quality.
It cannot remove counterparty risk.
Originator fraud or servicing failure is mitigated by audits and controls, not eliminated.