Vertical Deep Dives

Restaurants: the #1 stacking victims

Thin margins plus seasonality make restaurants the most stacked vertical in the market. Here's the restructure path and the graduation path.

June 10, 2026 · 7 min read

Why the second advance always feels reasonable

Full copy for this section is pending final review. The argument is the one this practice makes everywhere: the structure of the deal matters more than the size of the offer, and the cost of finding out late is measured in years of terms you can't undo.

Seasonality and remit schedules that ignore it

Full copy for this section is pending final review. The argument is the one this practice makes everywhere: the structure of the deal matters more than the size of the offer, and the cost of finding out late is measured in years of terms you can't undo.

This is exactly what the Position Review calculates for your file.

Consolidation mechanics

Full copy for this section is pending final review. The argument is the one this practice makes everywhere: the structure of the deal matters more than the size of the offer, and the cost of finding out late is measured in years of terms you can't undo.

The SBA path for buildout and equipment

Full copy for this section is pending final review. The argument is the one this practice makes everywhere: the structure of the deal matters more than the size of the offer, and the cost of finding out late is measured in years of terms you can't undo.

Restaurant capital

Find out what your file actually looks like before anyone submits it.