The first comparable transaction database built for lower middle market private credit.
Every deal in the BDC universe — structured, queryable, and updated quarterly. 3,000+ historical private credit transactions across sector, size, structure, and performance. The benchmark every direct lender needs and nobody has built. Until now.
You search a couple of BDC filings. You find three or four loans that look vaguely similar. You note the rates. You price from there and hope you're not leaving money on the table — or worse, pricing yourself out of a deal you should have won.
Every direct lender does this. Every single time. It takes hours. The data is incomplete. And the question you actually need answered — is this deal priced right? — stays unanswered until you're already committed.
PAR answers that question in two minutes.
The data services your firm subscribes to — LCD, Refinitiv, CapIQ — go quiet below $25M. You're making your most common deals with the least information.
Searching BDC filings manually is slow, incomplete, and inconsistent. By the time you have comps, you've already told the borrower you'll get back to them.
A comp from a 2022 filing means nothing if that loan went non-accrual in 2023. Without performance data, you're benchmarking against deals that may have already failed.
Input a deal. PAR queries 3,200+ historical transactions, finds the closest comparables by sector, size, and structure, and returns a formatted report showing market rate, performance history, and pricing assessment.
| Company | BDC Source | Sector | Structure | Loan Size | Rate | Vintage | Status |
|---|---|---|---|---|---|---|---|
| Apex Facility Management | Golub Capital BDC | Industrial Services | First Lien TL | $7.2M | SOFR+500 | Q3 2023 | ● Performing |
| Meridian Field Services | Hercules Capital | Industrial Services | Senior Secured | $5.8M | SOFR+525 | Q1 2023 | ● Performing |
| Northgate Equipment Co. | TCP Capital | Industrial Services | First Lien TL | $9.1M | SOFR+475 | Q4 2022 | ● Performing |
| Consolidated Maintenance | WhiteHorse Finance | Industrial Services | Unitranche | $6.5M | SOFR+550 | Q2 2022 | ○ Non-accrual |
| Summit Industrial Group | Fidus Investment | Industrial Services | First Lien TL | $4.2M | SOFR+500 | Q1 2024 | ● Performing |
| Vantage Field Operations | Prospect Capital | Industrial Services | Senior Secured | $8.0M | SOFR+450 | Q3 2021 | ● Performing |
"22 comparables found across 6 BDCs. Median rate SOFR+487bps. Proposed rate of SOFR+525bps is above market — lender has pricing power. Sector 94% on accrual across 3-year vintage. Recommend proceed."
APPROVEEnter sector, loan size, structure, and proposed rate via the PAR interface or API. No lengthy forms. Thirty seconds to submit.
PAR searches 3,200+ historical BDC transactions — scored by sector proximity, loan size, structure, and vintage — and surfaces the most relevant comparables instantly.
A formatted report showing market rate range, median pricing, sector performance history, and an AI-generated pricing assessment. Shareable as PDF or via API.
Benchmark your $2M–$20M commercial facilities against comparable BDC transactions. Know whether you're at market before the term sheet goes out.
Understand what rate and structure to expect before approaching lenders. Arrive at every lender conversation already knowing the market.
Replace hours of manual BDC filing research with a two-minute query. Benchmark pricing, validate structures, and document your market analysis automatically.
Give your clients accurate expectations on rate, structure, and availability before they enter a financing process. Backed by transaction data, not instinct.
See PAR in action. We'll run a comp report on a live deal type from your portfolio and show you exactly what the market looks like.
Response within 24 hours · No commitment required