Percent

Percent is the purest self-directed private-credit marketplace for accredited investors: short-duration, asset-backed deals with the highest deal-level transparency in the niche, built on the riskiest end of the market (non-bank lenders in merchant cash advance, consumer, and LatAm SMB credit). For an accredited investor who wants to pick individual credit deals rather than buy a fund, it is the reference platform. The minimum is $500 per deal. Fees run up to 10% of the interest earned on direct deals, charged against yield rather than principal and disclosed per offering; Blended Notes carry a management fee of about 1%. Platform-reported net return on asset-backed deals is 14.6% after losses for the twelve months ended 3/31/26, with current coupons roughly 11-19% and typical terms of 6-36 months. There is no secondary market; positions are held to maturity. Founded in 2018 as Cadence and rebranded to Percent in April 2021, the company has been a FINRA broker-dealer since 2023, with over $2B in cumulative deals funded and $333M across 223 deals in 2024. Individual deal defaults and charge-offs have occurred in short-duration SMB, consumer, MCA, and LatAm fintech credit, and are reflected in the net-return figure. There has been no platform-level blowup to date, but recoveries on defaulted deals can be slow, and the underlying borrowers are non-bank lenders, the riskiest end of private credit.