FNBO
At a Glance
The representative deals are the reason to read it: a searcher can see the desk closing $10 million facilities for independent sponsors before making the call.
- Pricing
- Custom Pricing, Loan products; terms by term sheet. The page publishes the EBITDA floor, the enterprise value band and a dated list of closed facilities, and no rates (per fnbo.com, September 2026).
- Best For
- A buyer with a fund or a fundless sponsor structure behind them and a company past two million of EBITDA who wants to see what size the desk has actually closed
- Past the SBA Cap
- Sponsor Finance Team: EBITDA greater than $2 million, at $10 to $100 million of enterprise value. Representative senior credit facilities from $1 million to $33 million, dated on the page.
- Who the Desk Says It Lends To
- Closed-end funds, fundless sponsors, and family offices with a direct investment strategy.
- US-based lower middle market operating companies.
- Roadmap Stages
- 5. Diligence & Close the Deal
Pros and Cons
Pros
- Publishes a list of representative transactions with sizes and months, so the desk's real range is on the page
- Names fundless sponsors and family offices with a direct strategy beside closed-end funds
- U.S.-based companies rather than a home region, by its own page
- Facilities on the page run from $1 million to $33 million, so a small deal is not out of range
Cons
- No search fund or searcher is named; the closest term is fundless sponsor
- The page states no maximum loan and no geography beyond U.S.-based
What Searchers Say
The page dates its representative transactions from 2022 to 2026, several of them acquisitions by independent sponsors. No searcher-forum discussion of the desk was found.