Notes on Specialty Finance

Most funders judge revenue-based funding by stack position. I don't. After years in this, what predicts performance is capacity — revenue, bank consistency, and real coverage of what's already owed. Here's why position is the lazy metric.

Many assume flexible funding is a backup plan. It is not. Operators use it to handle seasonal shifts, inventory windows, and quick growth tests. The question is simple: does this help the business move when it needs to.

I have been reviewing files for a long time. The use case for cash flow financing has changed. It used to be emergency capital for a slow month or a surprise expense. Now I open a file and the entire growth plan is built around it. New hires, new locations, inventory orders. This is the primary way most small businesses on Main Street are growing now. Not bank loans. Not SBA. Cash flow financing. When did this happen?