CapTap Syndicate Update — {{MONTH}} {{YEAR}}

Participant Update

Issue No. {{ISSUE_NO}} · Reporting period {{PERIOD_START}}–{{PERIOD_END}}

{{OPENING_PARAGRAPH — two to four sentences. What defined the month, one number that matters most, and anything participants should act on or expect.}}

— Ralph {{LAST_NAME}}, Managing Member

The Month at a Glance

Total all funded volume

Total deals funded

Average deal size

Right column shows change vs. {{PRIOR_MONTH}}.

CapTap Balance Sheet Funded Details

{{CT_DEAL_COUNT}} deals funded on balance sheet

Average deal size {{CT_AVG_SIZE}}

Average term {{CT_AVG_TERM}}

Weighted average factor {{CT_AVG_FACTOR}}

Renewals {{CT_RENEWAL_PCT}}

Largest deal {{CT_LARGEST_DEAL}}

{{FUNDED_COMMENTARY — notable industries or geographies, what drove the size or factor mix, and anything unusual in the composition this month.}}

Portfolio Performance

Measure

Trailing 3 mo.

Outstanding RTR

Collections received

Performing / current

Slow pay / restructured

Default / in collections

Weighted avg. remaining term

{{PORTFOLIO_COMMENTARY — what the numbers mean. Call out any concentration, vertical, or vintage worth flagging, and what you're doing about it.}}

Sales Funnel

Applications received

—

Submitted to underwriting

Approved

Contracts out

Funded

{{FUNDED_COUNT}}

{{CLOSE_RATE}}

Right column is conversion from the prior stage. App-to-fund: {{APP_TO_FUND_RATE}}.

{{FLOW_COMMENTARY — where volume came from this month (ISO count, top sources, new partners onboarded), and where the funnel tightened or loosened and why.}}

Company

People

{{PEOPLE_UPDATE — new hires and the seat they fill, role changes, headcount, who participants should contact for what. Keep it to what affects the participant experience.}}

Credit Model

{{CREDIT_MODEL_UPDATE — what changed in the model this month, what triggered the change, and the observed effect. Example structure: adjustment made → rationale → early read on approval rate and paper quality.}}

In effect {{EFFECTIVE_DATE}}: {{MODEL_CHANGE_ONE_LINER}}

Looking Ahead

Credit model changes

{{UPCOMING_CREDIT_MODEL — what's changing, when it takes effect, and what participants should expect it to do to volume and paper quality.}}

Expansion of funded sizes

{{UPCOMING_DEAL_SIZE — new size band, effective date, which tiers or industries qualify, and how participation will be allocated on larger deals.}}

Also on deck

{{UPCOMING_OTHER — product, technology, reporting cadence, new partner funders, or anything else worth a heads-up. Delete this block if empty.}}

Questions on any figure in this update, or on your current positions? Reply directly to this email or reach us at {{CONTACT_EMAIL}}.

535 Fifth Avenue, New York, NY · captap.co

Confidential — prepared for current CapTap syndicate participants only and not for redistribution. Figures are unaudited, internally prepared, and subject to revision. Performance shown reflects the periods indicated and is not a projection or guarantee of future results. This update is informational and is not an offer to sell or a solicitation of an offer to buy any security or participation interest; any participation is governed solely by your executed Master Participation Agreement.

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