CaldrionSubmit an opportunity

02 / 06Private Credit

Where banks step back, we step in.

We lend $5M–$50M from our own balance sheet—first-lien, senior secured and backed by tangible assets—to borrowers who need speed, flexibility or bespoke structuring.

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Criteria

Criteria at a glance

Brokers are protected.

Loan size
$5M–$50MHeld on our balance sheet
Position
First-lien, senior securedMezzanine only selectively, with strong control rights
Geography
United StatesMajor metros and business-friendly states
Collateral
Real and financial assetsCommercial real estate, industrial equipment, corporate receivables, fund NAVs, and other financial assets
Leverage
Up to 75% loan-to-costUp to 65% loan-to-value
Term
12–36 monthsWith extension options
Pricing
SOFR + 600–900 bpsOr fixed-rate equivalent
Origination fee
1–2%
Loan types
Bridge, construction, ABL, and NAVAlso lender finance and royalty monetization

We aim to give initial feedback within 72 hours of receiving a complete package.

01Our approach

Capital first. Yield second.

Private credit is the income engine of our portfolio. As banks retreat under regulatory constraints, we provide liquidity to high-quality borrowers who need speed, flexibility or bespoke structuring.

We are fundamental, asset-focused lenders. We focus on the top of the capital structure: first-lien, senior secured positions. We consider mezzanine only selectively, with strong control rights. Our priority is preserving capital, not reaching for yield.

Three things set our lending apart:

  1. Collateral expertise

    Because we also own and operate real assets, we can value collateral accurately.

  2. Disciplined structure

    Conservative advance rates and rigorous covenant packages protect principal.

  3. Structural creativity

    We don’t lend to a rigid box. We can structure interest reserves, earn-outs or payment-in-kind (PIK) components to match a borrower’s cash flow.

Where we excel

Situations with tight timelines, complex borrower structures or assets in operational turnaround—provided the collateral coverage is robust.

02Where we invest

Lending where we know the collateral.

We lend in sectors where we have deep domain expertise, so we can underwrite complexity that automated bank models reject.

Real Estate Bridge & Construction

Transitional lending

Strategy
Short-term financing for sponsors executing value-add business plans who need more speed or flexibility than commercial banks offer.
Loan profile
Acquisition, bridge-to-permanent, construction completion and heavy renovation loans.
The opportunity
Financing quality assets in transition, whether through lease-up, zoning changes or renovation, where the exit (sale or refinance) is clear.
Risk mitigation
We lend at a conservative basis (low loan-to-cost) and keep strict control of construction draws, so funds are released only as value is created.

Asset-Based Lending & Corporate

Collateral-backed growth capital

Strategy
We support lower-middle-market operating companies that are asset-rich but may have irregular cash flows or need capital for rapid expansion.
Loan profile
Revolvers and term loans secured by accounts receivable, inventory, and machinery and equipment (M&E).
The opportunity
Non-dilutive growth capital for founder-led businesses, underwritten to the liquidation value of hard assets rather than EBITDA multiples alone.
Risk mitigation
Rigorous borrowing-base monitoring and lockbox arrangements that control cash receipts and maintain a buffer between the loan balance and collateral value.

Specialty Finance & NAV Lending

Complex and structured solutions

Strategy
We provide liquidity against esoteric or financial assets that require sophisticated underwriting, often lending to other investment funds or family offices.
Loan profile
Net asset value (NAV) loans, lender finance (loan-on-loan), and royalty and contract monetization.
The opportunity
Lending against a diversified pool of assets, such as a private equity fund’s portfolio, or against high-quality contractual cash flows with low correlation to broader markets.
Risk mitigation
Cross-collateralization across multiple assets and tight covenants on portfolio concentration and performance, giving multiple avenues of repayment.

03Why partner with Caldrion

A partner, not a bureaucracy.

Borrowers and intermediaries choose Caldrion because we lend like an owner and decide like one.

Permanent capital

We lend our own permanent capital and hold every loan on our balance sheet, so we never need to sell down a position to close.

Certainty of close

A term sheet from Caldrion is backed by capital on hand. For straightforward collateral, we can move from term sheet to funding in as little as 2–3 weeks.

Direct decision-makers

You deal directly with the people who decide. Decisions are made by a small internal investment committee that meets weekly. We need no outside approvals and no fundraising to close.

04For brokers and advisors

For debt brokers and intermediaries.

We value the debt placement community and other intermediaries as extensions of our team. Expect a streamlined review and direct access to decision-makers.

Broker protection. We respect mandates and protect buy-side and debt brokers on introduced transactions.

Materials and NDAs. Share a link to non-confidential materials (teaser, deck or data room); we sign NDAs promptly when there is mutual interest.

What to send

  • Link to an executive summary or deal memo
  • Link to the schedule of collateral (real estate, receivables, inventory)
  • Link to the borrower or sponsor bio and track record
  • Link to the sources and uses of funds

What happens next

  1. Submit

    Send the opportunity through our inquiry form, with a link to non-confidential materials.

  2. Initial review

    We route your submission to the sector lead.

  3. Feedback

    We aim to give initial feedback within 72 hours of receiving a complete package.

  4. NDA & discussion

    If there is mutual interest, we sign an NDA promptly and set up a call with a decision-maker.

Private Credit

Need a lender who can move quickly?

Borrowers and debt brokers reach a decision-maker through one short form.

Request financing All six pillars