An independent read on the borrower before funding.
Lenders financing a buyout usually see diligence prepared for the sponsor. FirstSounding gives the credit team its own cited read of the data room, focused on what supports repayment: cash, receivables, collateral, and debt already in place.
How lenders use it
01
Before credit committee
Reported EBITDA tested against bank deposits, invoices, and tax returns, so the committee knows how much of the earnings the cash supports.
02
Collateral
Receivables and inventory tested for concentration, aging, and dilution, and checked against UCC lien filings for assets already pledged to another lender.
03
Covenant definitions
The EBITDA adjustments a covenant definition would rely on, tested against the ledger before they are written into the credit agreement.
04
Outside the data room
Litigation, tax liens, and judgments against the borrower and its owners.
Engagement
Lenders engage FirstSounding directly, under the same fixed fee and confidentiality terms as buyers. If a lender needs to rely formally on a report the sponsor commissioned, a reliance letter is available.
Discuss a transaction under LOI.
Share the sector, the deal size, and the end of exclusivity. We respond within one business day with an assessment of fit and the proposed scope of the report.