Flat Rock Capital

An Innovative Approach to Middle Market Credit
Underwriting: The 5 C’s of Credit

Following the financial crisis, regulations were implemented that hindered the ability of large banks to lend to the middle market sector, ultimately creating a rise in specialty lenders which act as a primary source of debt for these companies. To differentiate themselves from the growing number of competition, these specialty lenders have turned to “innovative approaches” to credit underwriting. However, these newly developed techniques of credit analysis can steer specialty lenders away from the fundamentals which are imperative when evaluating the viability of an investment.

About the Author

Robert Grunewald is CEO and Founder of Flat Rock Global, LLC.
Mr.Grunewald has over 25 years of experience with middle market finance, BDCs and asset management. Within the finance industry, he has participated as a lender, investment banker, M&A advisor, private equity investor and hedge fund manager. Flat Rock Global, LLC is an alternative asset manager. The firm develops yield-driven investment strategies focused on asset classes deemphasized and currently underserved by the banking sector. Flat Rock Global expects to launch its initial fund, Flat Rock Capital, in early spring, focused on making first lien, senior secured loans to middle market companies.