The first place you turn for capital is your existing bank. The capital is relatively inexpensive and you’ve had a relationship with your banker for years. But where can you turn if your bank, or even multiple bank lenders, say no? Non bank financing alternatives. This presentation describes bank alternatives for typical capital funding needs.

1.
When Your Bank Says No - Go Somewhere Else
Non-Bank Financing Alternatives for
Middle Market Businesses
Capital Raising | Mergers & Acquisitions | Strategic Advisory
Capital Raising | Mergers & Acquisitions | Strategic Advisory

2. When Your Bank Says No - Go Somewhere Else
Access to Capital
Middle market companies constantly go through inflection points that
require capital- making acquisitions, buying out partners, building new
facilities, expanding into new markets… the list goes on.
Naturally, the first place you turn for capital is your existing bank. The
capital is relatively inexpensive and you’ve had a relationship with your
banker for years.
But where can you turn if your bank, or even multiple bank lenders, say
no? Does this mean that raising capital isn’t possible? Probably not.
There are other options.
Capital Raising | Mergers & Acquisitions | Strategic Advisory 2

3. Capital Raising | Mergers & Acquisitions | Strategic Advisory
Bank Won’t Provide
Enough Liquidity For:
New Bank Lenders
Turning You Down
Because of:
Bank Won’t Renew or is
Asking You to Find New
Lender Because of:
Common Situations when the Bank Says No
When Your Bank Says No - Go Somewhere Else
• Working capital (A/R,
inventory)
• Expansion / Growth
• New facilities
• Equipment purchases
• Acquisitions
• Buying out a partner
• Shareholder distributions
• Not enough collateral
• Industry concerns
• Recent operating losses or
fluctuating income / cash
flow
• Tripped loan covenants
• Change in bank strategy
• They really don’t understand
your business
• Not enough collateral or the
type of collateral bank wants
• Recent operating losses or
fluctuating income / cash
flow
• Foreign receivables or
collateral
• Customer concentration
• Unique industry
3

4. Capital Raising | Mergers & Acquisitions | Strategic Advisory
When Your Bank Says No - Go Somewhere Else
Non-Bank Alternatives are Plentiful, But Hard to Find
Non-bank financing alternatives have become a prevalent source of
capital for many private, middle market companies, but they’re harder to
find than bank lenders- they’re scattered around the country and typically
don’t have local offices or advertise.
It’s common for many companies to not know who these funding sources
are, where to find them or what types of capital they provide.
The capital providers listed on the next page all provide funds in situations
where banks either say no or aren’t appropriate. Finding the capital
partner(s) to provide the funding you need can be transformative- even if
it’s just a temporary solution until a bank becomes a better fit for your
needs.
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5. Capital Raising | Mergers & Acquisitions | Strategic Advisory
When Your Bank Says No - Go Somewhere Else
Seek Help When Appropriate
If you aren’t an expert in capital sourcing and don’t aspire to be one,
seeking help from an investment banker that specializes in raising capital
will save you time, money and help you identify whether a funding source
is a good fit given your objectives.
Here are seven types of non-bank capital providers for middle market
companies:
Business Development
Companies (BDCs)
Mezzanine Funds
Small Business
Investment Corporations
(SBICs)
Credit Opportunity
Funds
Private Equity
Finance Companies Insurance Companies
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6. Capital Raising | Mergers & Acquisitions | Strategic Advisory
Finding the Right Capital Provider Is Important and Depends on the Situation
Each type of capital provider listed below invests under different circumstances and on
dramatically different terms, so finding the right capital partner(s) based on the company profile,
current situation and future prospects is important. Here are the funding situations where each
non-bank financing source is best suited:
Finance
Companies
Insurance
Companies
BDCs SBICs
Mezzanine
Funds
Credit
Opportunity
Funds
Private
Equity
Working Capital
(AR, Inventory)
✔ ✔
Growth Capital ✔ ✔ ✔ ✔ ✔ ✔ ✔
Acquisition Financing ✔ ✔ ✔ ✔ ✔ ✔ ✔
Asset Purchases:
Equipment, Real Estate
✔ ✔ ✔ ✔
Partner or Management
Buyout
✔ ✔ ✔ ✔ ✔ ✔
Turnarounds ✔ ✔
Bridge Loans ✔ ✔
Special or Unique
Situations
✔ ✔ ✔
Shareholder Distributions
or Liquidity
✔ ✔ ✔ ✔ ✔
6

7. Capital Raising | Mergers & Acquisitions | Strategic Advisory
Description
BDCs
SBICs
Finance
Companies
• Revolving lines of credit
• Senior term loans
• 2nd lien loans
• Subordinated or mezzanine debt
• Senior term loans
• 2nd lien loans
• Unitranche loans
• Subordinated or mezzanine debt
• Minority equity
• Senior term loans
• Subordinated or Mezzanine debt
• Unitranche loans
• Minority & preferred equity
• Common equity
Type of Capital
Insurance
Companies
• Senior term loans
• 2nd lien loans
• Unitranche loans
• Subordinated or mezzanine debt
• Minority equity
Non-Bank Alternatives: Who They Are and the Types of Capital They Provide
Here’s an overview of each funding source and the type(s) of capital they provide:
Finance Companies are specialty non-bank lenders that make asset
based loans (directly tied to specific assets) & cash flow loans (tied to
overall cash flow).
• Take greater risks than banks
Insurance companies provide a wide range of financing options to
middle market borrowers.
• An option for borrowers with >$10mm EBITDA
• More flexible amortization and covenants
• Higher leverage limits than banks
Business Development Companies are publicly traded companies that
provide a wide range of financing options to middle market borrowers.
• Wide variety of financing options
• More flexible amortization and covenants
• Higher leverage limits than banks
SBICs are privately owned investment companies that are licensed by
the Small Business Administration (SBA).
• Provide wide variety of financing options (debt & equity)
• Have some limitations on industry and company size
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8. Capital Raising | Mergers & Acquisitions | Strategic Advisory
Mezzanine
Funds
Credit
Opportunity
Funds
Private
Equity
• Subordinated or mezzanine debt
• Minority & preferred equity
• Common equity
• Revolving lines of credit
• Senior term loans
• 2nd lien loans
• Subordinated or mezzanine debt
• Bridge loans
• Common equity
• Subordinated Debt
• Minority & preferred equity
Mezzanine Funds are private investment funds that primarily make
loans, sometimes with an equity co-investment.
• Provide greater leverage than banks
• Typically subordinate to the senior lender
• Primarily concerned with cash flow, not assets
Credit Opportunity Funds are private funds that primarily make loans,
but also make equity investments, in unique or special situations.
• They are opportunistic and extremely flexible
• Charge a premium for the risk they take
Private equity funds are private funds that make equity investments in
businesses either for majority or minority ownership positions.
• Help management teams implement best practices to grow shareholder
value before exiting the investment
• Great partners for owners who want some liquidity now, but want to remain
in the business for a few years before an exit and additional liquidity event
8
Description Type of Capital
Non-Bank Alternatives: Who They Are and the Types of Capital They Provide
Here’s an overview of each funding source and the type(s) of capital they provide:

9. Making Capital Simple- Working with Access Capital Partners:
Save Time. As an executive, the most important resource you have is time. We’re a turnkey solution
to help you evaluate every option, then we structure, source, negotiate and help close the deal. We
minimize the distraction of raising capital so you can focus on driving your business to the next level.
Leverage Our Expertise. We specialize in raising capital for middle market companies and financial
sponsors and have access to literally thousands of funding sources across the planet. Whether
you're replacing an existing lender, financing an acquisition, buying out a partner or recapitalizing the
company, we know which funding sources will provide the best terms, with the most flexibility and be
the best fit for the situation.
Get the Best Possible Pricing, Terms and Structure. We run a competitive financing process for
each of our clients. That process forces funding sources to put their best foot forward and meet critical
deadlines.
Certainty of Closing. Access Capital Partners is acutely focused on putting its clients in the best
position to achieve a successful outcome. With years of experience in raising capital in all types
situations and across many industries, we're constantly focused on identifying and preemptively
addressing potential obstacles that may make it difficult to raise the capital your company needs, so
you can close on schedule.
Access Capital Partners
7733 Forsyth Blvd., Suite 1168
St. Louis, MO 63105
314.783.9550
www.accesscappartners.com
Securities offered through StillPoint Capital LLC, Member FINRA and SIPC Tampa, FL 33626. StillPoint Capital is not affiliated with Access Capital Partners.

10. Access Capital Partners
7733 Forsyth Blvd., Suite 1168
St. Louis, MO 63105
314.783.9550
www.accesscappartners.com
Access Capital Partners is middle market investment bank focused on advising private companies,
financial sponsors and diversified corporations on business sales, acquisitions and raising private capital.
We leverage years of experience in raising capital and M&A across a wide range of industries and
situations including: mergers, business sales, acquisitions, recapitalizations, distressed situations, rapid
growth, refinancing, partner buyouts, management buyouts and shareholder liquidity events.
$8.0B+ 100+ 35+ 1000+
In total transaction
experience
Completed transactions Years of middle market
experience
Relationships with funding
sources including VC
firms, private equity firms
and debt funding sources
around the globe
Securities offered through StillPoint Capital LLC, Member FINRA and SIPC Tampa, FL 33626. StillPoint Capital is not affiliated with Access Capital Partners.
Capital Raising | Mergers & Acquisitions | Strategic Advisory