As you scale a credit startup, raising a debt facility is one of the functions for the founders. It is still untractable for most. Learning it early in your startup will influence many decisions.
Thanks for the calculator, agree trying to understand all the downstream impacts can be mind-bending. Some other points we found were part of the negotiation - PIK vs Cash Interest, advance rate (mentioned in your spreadsheet), tiering and timing of refinancing fees. uses of the cash, reporting requirements. We had to decide what things really mattered for us, and it was important to understand what mattered to our lenders (in our case they want to make sure they can put a LOT of money to work and not lose money ... ever)
Thanks for the calculator, agree trying to understand all the downstream impacts can be mind-bending. Some other points we found were part of the negotiation - PIK vs Cash Interest, advance rate (mentioned in your spreadsheet), tiering and timing of refinancing fees. uses of the cash, reporting requirements. We had to decide what things really mattered for us, and it was important to understand what mattered to our lenders (in our case they want to make sure they can put a LOT of money to work and not lose money ... ever)