Event-based credit
We lend into that gap. Against a documented event, behind a first mortgage we do not touch.
The gap
Banks ask whether income will continue. For a salaried borrower that is the right question. For a business owner whose income arrives in events, it is not. A distribution is not a paycheck. A settlement is not a salary.
Business owners are not risky because their income is irregular. Their income is irregular because they own businesses.
We ask something narrower. Whether one documented event will occur, and whether there is equity behind it if it arrives late.
We lend against events. Not optimism.
What we do
A short second mortgage against equity in an owner-occupied residence, underwritten to a repayment event. No refinance. No restructuring. No unnecessary disruption.
A low fixed rate cannot be repurchased once surrendered. Preserving it is the point of the structure.
Describe a situation without names or documents. An initial screen tells you whether it fits.
Full interior appraisal on every loan. Written credit memorandum. An independent second reader before approval.
Sixty-five percent combined loan-to-value, and it does not move.
Business purpose only. $500,000 minimum. Secured by an owner-occupied primary residence. Pricing follows the file and is discussed on the first call.
For advisors
You already know which client this is.
Complete files are generally handled in twelve to fifteen days, without touching the mortgage you would tell them to keep. You solved it. We did the work.
A written credit box, a 65% ceiling, and a full interior appraisal. We decline when the file says decline.
You have an answer before your client grows anxious. The first mortgage is not disturbed.
If we decline, you hear it from us before your client does, with the reason.
The referral
A sentence about the situation and the event. No permission needed, no name needed.
Whether it fits, what we would need to say yes, or that it does not work and why.
Appraisal, approval, documents, closing. You hear it from us first, every time.
From the moment you introduce us, the work becomes ours.
Your reputation remains yours.
For business owners
Throughline makes short-term, business-purpose second mortgages. That is the only product we offer.
What we offer
Pricing follows the file and is discussed on the first call. There is no rate sheet, because there is no menu.
What we do not offer
Throughline does not offer, arrange, or broker first mortgages, refinancing, cash-out refinancing, home equity lines of credit, or any consumer-purpose credit. We do not replace, modify, or pay off your existing first mortgage.
We make one product, described above. If refinancing is what your situation calls for, we are the wrong lender and will tell you so.
Why we work behind the first mortgage
A low fixed first mortgage cannot be repurchased once surrendered. Refinancing reprices the entire balance permanently in order to solve a short-term need for a fraction of it. Our loan sits behind that mortgage and leaves its rate, term and payment untouched.
The comparison below is included to explain that reasoning. It illustrates a refinance, which is a product Throughline does not offer. Figures are hypothetical and are not a quotation of any terms, by Throughline or anyone else.
No new liquidity. Roughly $19,000 a year, for the life of the loan.
Payment more than doubles, permanently, for a need lasting two quarters.
A second lien reprices nothing.
Business purpose
Every loan we make must be for a business purpose. We require a written statement of purpose and documentation supporting it, and we decline where the purpose is personal.
Your last two returns may describe a company that has since changed. A bad year you recovered from. Depreciation that makes a profitable business look thin.
The underwriter was not looking at the thing that will actually repay the loan, because there is no field on the form for it. That is a limitation of the model, not a verdict on your business.
Why we might say no
Sixty-five percent is where a loan survives a soft appraisal and a late event at once. If your equity does not support the amount, we will tell you rather than stretch.
If it cannot be evidenced, we cannot underwrite it. Without a dated source of repayment you will need a second loan to retire the first.
If the use of funds is personal, we cannot make the loan. There is no version of this product for consumer purposes.
If you need capital indefinitely rather than until a dated event, you need a different institution.
What happens after you call
No names required, no documents, no obligation.
An initial screen, and a straight answer either way.
Appraisal, title, underwriting and closing. You are told where the file stands at every gate.
The people
A pension chief legal officer. A structured credit principal. A pension chief investment officer. A Marine officer. A career bank president who reads every file second. Not a company that later hired credit people — credit people who built a company.
United States Ambassador to the Republic of Singapore under the Obama Administration. Before his appointment he spent more than twenty years as a plaintiffs' trial lawyer, founding and running Wagar Law, P.A. for fifteen years.
Twelve years on the board of the American Association for Justice and sixteen years on the state board of the Florida Justice Association. More than three decades in legal and advisory practice. He built Throughline after three decades of watching sound businesses make expensive decisions in the gap between the work and the money — including his own.
Lieutenant Colonel, United States Marine Corps (Retired), and former Defense Attaché at the United States Embassy in Singapore.
She owns the operational architecture of the platform — process, vendor discipline, and technology stack — and runs the file from first screen through funding and payoff. The discipline that allows a fully underwritten loan to close in roughly two weeks is hers.
Chief Legal Officer at AIMCo. Previously General Counsel and Chief Compliance Officer at Timbercreek, and fifteen years at OPTrust, including as Managing Director, Private Markets.
He brings institutional credit standards, rating agency relationships, and pension-grade governance to how Throughline underwrites and reports.
Founder of Mount-Row. More than $12 billion transacted across structured credit desks at Morgan Stanley, Deutsche Bank, Credit Suisse and Société Générale.
His work informs how Throughline structures and finances a short-duration residential credit book.
Chief Investment Officer at Cowen, and previously Deputy Chief Investment Officer at Alcoa, where he oversaw a $14 billion pension across more than forty mandates.
He advises on the firm's capital architecture and its relationships with institutional counterparties.
Operating Partner at SOSV. He has served on the boards of Lloyd's of London, Hays plc, and Trustpilot Group plc.
He advises on board construction and the governance standards an institutional platform is expected to hold from the beginning rather than acquire later.
Market President at First Horizon Bank, a leading warehouse lender in the Southeast, following more than twenty-five years at BNY Mellon in Miami.
He serves as the independent second reader on every credit file. No loan at Throughline is approved by the person who wrote it up.
Partner at Marko & Magolnick, P.A., AV-rated, with more than thirty years as M&A counsel. Appointed to the United States Industry Trade Advisory Committee.
He is counsel to the firm, and every document that leaves it passes through his review.
Additional advisors in institutional credit, structured finance and governance support the firm. Biographies available on request.
The footprint
Planned states are subject to obtaining applicable state lending licenses. Throughline Lending, LLC does not currently lend or offer to lend in them.
Contact
There is no application here. A conversation costs nothing and requires no names or documents.