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INV-1039
City of Austin
Originated by Harbor SMB Advance · Construction
B
87.7/100
Target yield
21.3%
Term
24d
Face value
$137,500
Advance
90%
Credit model
Expected loss = PD × LGD × EAD, sized to a stressed reserve. The advance and yield fall out of the loss math.
PD (annualized)
2.38%
0.22% over term
LGD
16%
loss given default
Dilution
1.1%
disputes / short-pays
Exposure (EAD)
$123,750
advanced to originator
Expected loss
$1,269
1.03% of exposure
Reserve
10%
held back as buffer
How the 21.3% yield is priced
Funding cost+ 5.50%
Expected loss (annualized)+ 12.47%
Servicing+ 1.50%
Risk premium+ 1.80%
Investor target yield21.30%
Risk signals
The inputs behind the score of 87.7. Higher bars are safer.
Originator tenure38
Originator cash-flow stability64
Payor scale92
Debtor credit quality94
Debtor payment speed67
Invoice verification90
Invoice concentration57
Deal terms
Debtor
City of Austin
Debtor credit
Grade B
Avg days to pay
52 days
Issued
2026-06-20
Due
2026-07-20
SMB fee
1.58%
Amount advanced
$123,750
Originator monthly rev
$180,000