Performace

1. RETURN SUMMARY SBLF
Total Return 33.29%
Max Monthly Gain 1.00%
Average Gain 0.85%
Compound Annualized ROR 10.67%
Last Month 0.73%
Last 12 Months 9.72%
Gain Frequency Annual 100.00%
RISK SUMMARY SBLF
Annualized Standard Deviation 0.26%
Sharpe Ratio (0%) Annualized 39.03
Max Drawdown 0.00%
1-12 months - 20 % 13-24 months - 24 %
25-36 months - 33 % 37-60 months - 23 %
Loan Term
Firm AUM 112,632,066.
Prime Meridian Capital Management, LLC
2603 Camino Ramon
Suite 200
San Ramon, California 94583
Jeffrey Ordonez-Triana, Director
Office: 646-659-6009
Mobile: 917-969-8001
jotriana@pmifunds.com
www.pmifunds.com
Prime Meridian Capital Management is an
investment management firm specializing in online
Marketplace (P2P) lending strategies.
Founded 2012•
Privately held investment firm based in
San Francisco Bay Area, CA
•
Affiliate of Novus Investments- Founded
2004. Novus Investments is a registered
alternative investment management firm
specializing in investment programs that
have low correlations to equity markets.
•
About Prime Meridian Contact Information
Auditor BDO USA
Accounting/Admin Abaco FSC
Prime Broker Wells Fargo/Funding Circle
Key Service Providers
Fund Performance Data *
*Proforma returns through 6/14 are based on actual fund net returns of FC Partners Fund I from 3/13-6/14. Assumes reinvestment of principal & interest payments.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2015 0.81 0.73 0.84 0.77 0.73 0.75 0.77 0.81 0.76 0.82 0.79 0.73 9.72
2014 0.82 0.83 0.89 0.93 0.96 1.00 0.88 0.89 0.98 0.80 0.89 0.84 11.25
2013 0.82 0.88 0.88 1.00 0.81 0.93 0.86 0.91 0.87 0.87 9.19
Prime Meridian Small Business Lending Fund LP - Objectives & Strategy
The objective of PMSBL is to achieve superior risk-adjusted returns relative to traditional fixed-
income investments while also providing reasonable liquidity to investors. PMSBL invests in
credit instruments, specifically prime, Marketplace/P2P ("Peer to Peer"), collateralized small
business loans originated by online lending platforms such as Funding Circle and Lending
Club. Prime Marketplace loans offer a combination of attractive yield, strong credit quality, and
relatively short duration while minimizing volatility of returns and correlation to other asset
classes.
Strategy Overview
The Prime Meridian Small Business Lending Fund provides investors direct low cost access to
short-duration high yield, collateralized loan portfolios from creditworthy small business
owners that produce consistent returns.The Fund buys loans directly from online marketplace
small business loan originators with whom it has negotiated long-term loan acquisition and
servicing relationships. Terms typically range from 6-60 months, and the types of loans
include term loans, lines of credit, and receivables financing. Targeted returns are 8-10% per
year net to the investor with low volatility and standard deviation.
Start Date July, 2014
Min Investment 500,000
Currency US Dollar
Domicile US
Mgt Fee 0.75%
Inc Fee 15.00%
Lock Up
N/A, early redemption fees may
apply
Additions Monthly
Liquidity
Monthly of principal and/or
interest
Key Investment Terms
Diversified credit portfolio in short duration, collateralized small business loans
Prime Meridian Small Business Lending Fund, LP
December 2015
Prime Meridian Capital Management, LLC | Small Business Lending Fund, LP | PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 1

2. About Funding Circle
This fact sheet for Prime Meridian Small Business Lending Fund, LP (the "Fund"), furnished on a confidential basis to the recipient, is neither an offer
to sell nor a solicitation of any offer to buy any securities, investment product or investment advisory services, including interests in the Fund. This fact
sheet is subject to a more complete description and does not contain all of the information necessary to make an investment decision, including, but
not limited to, the risks, fees and investment strategies of the Fund. Any offering may be made only pursuant to the relevant memorandum and
relevant subscription documents, all of which must be read in their entirety. No offer to purchase interests will be made or accepted prior to receipt by
a prospective investor of these documents and the completion of all appropriate documentation. All investors must be "accredited investors" and
"qualified clients" as defined in the securities laws before they can invest in the Fund. An investment in the Fund is speculative and involves
substantial risks. There can be no guarantee that the Fund will achieve its investment objectives. This document is not, and may not be relied upon in
any manner as legal, tax or investment advice.
1Assets under management includes SMA accounts. The Net Fund Return numbers shown on the preceding page represent time-weighted returns
and are calculated based on Prime Meridian' valuation of the underlying loans and the amount of interest income generated by those loans, less
certain fees and expenses. Loan Term data is as of the end of the most recent calendar quarter.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. The potential for profit is accompanied by the possibility of
loss, including the possibility of a total loss. Performance information is presented net of all expenses, including management fees, performance fees
and other expenses including portfolio-related expenses.
Portfolio characteristics and information are provided as of the dates set forth herein. Current or future characteristics and other information may vary
significantly from those provided herein and Prime Meridian Capital Management LLC ("Prime Meridian") undertakes no obligation to notify recipients
of any such variances.
This fact sheet is not an advertisement and is not intended for public use or distribution and is intended exclusively for the use of the person to whom
it has been delivered by Prime Meridian. This fact sheet is not to be reproduced or redistributed to any other person without the prior consent of Prime
Meridian.
Please note that upon a decision to subscribe to Prime Meridian Income Fund, LP, the investor must verify Accredited Investor status via submission
of certain supporting documentation. This is required by law prior to the date of investment in the Fund.
Funding Circle was created with a big idea: to revolutionize the antiquated banking system and secure a better deal for everyone. Thousands of loans
later, they’ve helped businesses grow, investors prosper and the economy flourish. And they’ve taken this progress global. Funding Circle is now the
world’s leading online marketplace lender exclusively focused on small business. They’re now serving the millions of American small businesses who
the banks have left behind. Since inception in 2010, they have lent $700 million globally to small business owners to help them grow their businesses.
Important Disclosures
Prime Meridian Small Business Lending Fund, LP
December 2015
Prime Meridian Capital Management, LLC | Small Business Lending Fund, LP | PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 2