Bonside's Innovative Scorecard Revolutionizes Retail Underwriting
Bonside Scorecard and Strategic Partnerships
Bonside is making waves in the financial and technology landscape with the introduction of its innovative underwriting tool called the Bonside Scorecard. This proprietary development signals a significant move towards refining how commercial landlords assess retail tenants. Partnering with esteemed entities like Kimco Realty and Nuveen Real Estate, Bonside is poised to advance its mission in supporting brick-and-mortar businesses.
Strategic Partnership Highlights
This collaboration not only underscores Bonside's commitment to enhancing underwriting processes but also emphasizes the investment made by both Kimco Realty and Nuveen Real Estate. Through this partnership, both firms have committed equity investments in Bonside and will leverage the Bonside Scorecard as a user-friendly instrument for evaluating the creditworthiness of non-credit retail tenants. The ability to effectively assess the risk associated with potential tenants is crucial for landlords, and the Scorecard provides a refined approach in doing so.
Efficiency in Tenant Evaluation
The Bonside Scorecard promotes a standardized method for landlords, ensuring efficient evaluation of a tenant’s performance. This tool is derived from Bonside's existing underwriting procedures, honed through 37 completed transactions, thereby guaranteeing a reliable assessment framework. Utilizing data from accounting software, the Scorecard allows landlords to make informed decisions quickly, enhancing their competitive advantage in the marketplace.
Revolutionizing the Retail Landscape
At the heart of Bonside’s strategy is the ambition to uplift the non-credit retail sector. By focusing on the foundational aspects of physical retail, the company meticulously analyzes metrics such as 4-wall EBITDA, cost of goods sold (COGS), and labor ratios among more than 20 additional industry-specific metrics. This targeted approach brings a fresh outlook to the underwriting processes traditionally used in the retail sector.
Supporting Landlords and Tenants Alike
With the introduction of the Bonside Scorecard, commercial landlords can streamline their tenant evaluation processes, reducing friction and increasing transparency. This development is equally beneficial for rising retail concepts seeking to navigate the complex landscape of securing leases. The Scorecard enables these businesses to compete effectively for desirable locations without the cumbersome effects of manual evaluation processes.
Impact and Future Growth of Bonside
This strategic partnership marks a pivotal moment in Bonside's ongoing growth trajectory. The company has successfully funded 37 deals since its inception in 2023 and currently has $25 million in assets under management. A distinctive feature of Bonside's financing model is the Repeatable Revenue Agreement (RRA), which empowers businesses to scale without diluting equity or accruing debt. This aligns with Bonside's values of supporting sustainable growth in brick-and-mortar ventures.
About Bonside
Bonside is a technology-driven company based in New York City, officially launching in June 2023 with the mission to provide intelligent underwriting solutions and capital to the brick-and-mortar sector. Their focus lies on equipping businesses with the necessary financial resources to thrive in today's competitive landscape.
Frequently Asked Questions
What is the Bonside Scorecard?
The Bonside Scorecard is a proprietary underwriting tool designed to standardize and improve the assessment of retail tenants' creditworthiness for landlords.
Who are Bonside's strategic partners?
Bonside has partnered with Kimco Realty and Nuveen Real Estate, both of whom have made equity investments in the company to enhance tenant evaluation processes.
How many transactions has Bonside completed?
Bonside has completed 37 transactions since its launch, demonstrating its effectiveness in the financial underwriting space.
What is the Repeatable Revenue Agreement?
The Repeatable Revenue Agreement (RRA) is Bonside's innovative financing model that allows businesses to grow without sacrificing equity or incurring debt.
What metrics does the Bonside Scorecard evaluate?
The Scorecard evaluates various metrics, including 4-wall EBITDA, cost of goods sold (COGS), and labor ratios, among other specific industry indicators.
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