Underwriting Pay for Success Transactions

Published Thursday, November 30, 2017 | by Anna Smukowski

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At the recent Opportunity Finance Network annual conference in D.C., LISC and partners hosted a panel that dove into the ins and outs of underwriting Pay for Success transactions. In the absence of collateral, the panel highlighted Living Cities and Reinvestment Fund’s Four Ps Framework which provides a new way for lenders to assess the likelihood of getting paid back in a PFS transaction. The four Ps are Partnerships, Program, Policy, and Process.