60-month deal simulation
Overview
Cap Table
Capital Stack
BTC Collateral
Unit Economics
Sensitivity
Investor Waterfall
Exit Bridge
Receivables portfolio
Existing book (acquired) plus new originations, net of scheduled amortization and credit attrition. Milestones mark the dashboard's $5M / $10M / $15M checkpoints.
Monthly originations vs. demand
Funding is capped by underwriting capacity, the 50-loan ceiling, and cash available for the equity slice of each loan.
Unrestricted cash
Floor is the $100K minimum reserve. A dip that would breach it triggers an emergency investor capital call.
Annual summary
Month-by-month detail (all 60 months)
Investor roster
The $500,000 seed has a fixed 16% participation in net distributions and net sale proceeds, independent of contribution size or later funding. GPs receive 20% and new investors receive 64% of both net distributions and net sale proceeds. Jay’s BTC reinvestment creates no additional waterfall share. Jay’s BTC is separate financing support, excluded from equity contributions, equity IRR and the waterfall. Edit any row, or add a new investor, and the whole model recomputes.
NAV per unit
CFI equity book value divided by cash-investor units. This reference chart excludes Jay’s BTC. Distribution and net sale allocations follow the fixed 16% / 20% / 64% waterfall.
Pooled collateral coverage
Collateral value ÷ the shared facility's loan balance. This is Jay’s separate collateral coverage. At the doubling trigger, the model repays the BTC facility from collateral before his original-principal withdrawal.
Per-investor outcome
Each investor's own cash-flow ledger — what they put in, what came back (16% of net distributions and net sale proceeds for the seed; 20% for GPs and 64% for new investors). Capital calls retain the existing NAV-based allocation, and their resulting personal MOIC and IRR.
Debt stack: warehouse vs. BTC-backed facility
Warehouse advance rate steps from 70% to 80% once the $5M qualifying-portfolio test passes (or cures), and to 90% when the configured SBLC becomes active.
Peak warehouse draw
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of $30M committed facility
Peak SBLC exposure
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against $2.5M face
Warehouse interest rate
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Prime + 50bps
Blended cost of funds
Weighted all-in financing rate across warehouse and BTC-backed debt, by month.
Jay’s independent BTC financing
BTC collateral and its nonrecourse loan are outside CFI equity, distributions and sale proceeds. CFI has no repayment obligation. When collateral doubles, the BTC loan principal and accrued interest are repaid from BTC first, then Jay withdraws up to his original principal. Any remaining BTC stays outside CFI equity. Staying retains this separate arrangement and creates no extra waterfall share.
Loan-to-value path
Margin call above 85% LTV; forced partial liquidation above 95%.
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Round outcome
One loan, start to finish
A single $20,000, 22% APR, 60-month loan at the current advance rate — where the margin actually comes from.
Balance decay
Scheduled amortization compounded with the current default-rate hazard. The dashed line marks the month the equity check is paid back.
Where the spread goes
Lifetime economics of one loan's 22% coupon, split between the warehouse lender, credit losses, and CFI's own margin.
What moves the IRR
Each bar swings one lever from −25% to +25% of its current setting (holding everything else fixed) and shows the resulting IRR range. Longer bars are the levers worth watching.
Lever detail
Distributions paid vs. target
Target accrues at the chosen annual rate on invested equity, paid quarterly from residual cash above the $100K reserve. Unpaid target carries forward. The total distribution is split 16% to Jay, 20% to GPs and 64% to new investors. At the 13% annual target these equal 2.08%, 2.60% and 8.32% of the same invested-equity base, subject to cash availability. Net sale proceeds use the same split.
Capital calls
Emergency equity calls fired whenever a month would otherwise breach the cash reserve.
Employee bonus pool
10% of quarterly pre-provision operating profit, capped at $60K/quarter, gated on cash health.
Exit valuation bridge, month 60
Earnings-multiple method: year-5 net income × exit multiple, plus CFI cash, less bonus payable and sale expenses. Jay’s independent BTC collateral and nonrecourse loan are excluded.
Investor return summary
Scenario comparison
Base / Downside / Upside at the current financing strategy and slider settings.
Strategy comparison: why the capital stack matters
The same scenario and slider settings, run against all three financing strategies. This is the single clearest argument for the BTC + SBLC structure.
Purchase funding timeline
The $6M headline includes the initial funding, seller payment and fees. Jay’s BTC reinvestment is funded from his seller proceeds; the BTC loan is debt, not another investor contribution. The $500,000 seed receives a fixed 16% of net distributions and net sale proceeds. GPs receive 20% and new investors receive the remaining 64%, for both net distributions and net sale proceeds.
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