Portfolio / Credit

Software Refinancing Credit

• I underwrote software cash flow using unrestricted liquidity and debt schedules.
• I tested covenants, cash and PIK interest, refinancing gaps and recoveries.
• I prepared a hypothetical lender memo with downside monitoring triggers.

Independent portfolio sample created 6 October 2026. Synthetic startup accounts, forecasts and hypothetical transactions are labeled in the deliverables. This sample does not represent an employer engagement or executed investment.

Analytical conclusion

Require adequate downside interest coverage and a credible 2029 maturity plan. Restrict distributions when covenant headroom or unrestricted liquidity deteriorates.

Project files

• index.htmlSupporting file | 3 KB
• Software_Refinancing_Credit_Memo.docxWord document | 39 KB
• Software_Refinancing_Credit_Memo.pdfMemo PDF | 179 KB
• Software_Refinancing_Credit_Model.xlsxExcel model or data workbook | 70 KB
• Software_Refinancing_Credit_Presentation.pdfAnalysis report PDF | 203 KB
• Software_Refinancing_Credit_Presentation.pptxPowerPoint presentation | 35 KB