TrueTerm

Investor pack · One-pagers
Illustrative · not a securities offering

Read on the site. Print if you want the paper.

This pack is the printable one-pagers. The pitch is on the site for real-time review (the same story that used to live only in a static PDF). Download the PPTX if you want slides. We will keep tightening copy; numbers here are a planning model, not a rate sheet.

In this PDF

• 1. Standard UW box — funnel of 100 apps; near-prime / prime / super-prime only; what a facility can benchmark.
• 2. Second Look — off the ABS tape; $1,500 cap; 33.99% (under 36% MLA MAPR); higher PIFC; enhancement IDs; 25% of the reviewed queue.
• 3. Seed book — $3,000 class, ~37 loans/month, $1M placed in 9 months, then actuals.

Also on the site

Pitch (on-site) · PPTX download · product demo · data room (register). Subsequent credit after a Second Look first note is proprietary underwriting and is not in this pack as a customer ladder.

TrueTerm, Inc. · Hand up, not hand out · Demo MVP · Not licensed lending unless disclosed in-app.

TrueTerm

Investor · Standard UW box (ABS tape)
100 applications = count and %

Standard box only — what a facility can benchmark.

A lender who has bought or financed unsecured consumer paper will not want First Look and Second Look mixed in one tape. They map score band, DTI, bankruptcy, seasoning to other portfolios and to ABS credit enhancement. Dual Look / ClearAsk is a separate book (next page). This page is the standard UW box only: near-prime, prime, and super-prime.

Application funnel — 100 apps

Standard yes mix — loan, term, rate (the facility tape)

Same $3,000-class market — standard product only

On a $1M standard book (CoF $0 equity pool): interest ~$261k · losses ~$60k · PIFC ~$50k · net ~$151k before OpEx (OpEx is the other $1M). Lifetime LLR 6.7% — in the range a warehouse can model against other prime/near-prime unsecured. Payday / OppLoans / OneMain 36% paper is not in this tape.

Funnel n=100 so 22 = 22%. Approval rates inside the standard box: super-prime 90%, prime 73%, near-prime 50%. Industry 60+ DPD (TransUnion Jan 2026 personal loans): 0.01% / 0.15% / 1.15% — LLR is 36-month lifetime % of original principal, not 60+ DPD. MLA MAPR 36% does not bind this box (max contract 19.99%). Second Look (33.99% APR, higher PIFC) is the next page and is booked apart. Illustrative. Not a consumer offer. Not a securities offering.

TrueTerm

Investor · Second Look book (off ABS tape)
$1,500 cap · 33.99% · higher PIFC

Second Look is a different loan. It is booked that way.

This book is not mixed into the standard tape a warehouse or ABS desk will compare to other unsecured consumer deals. It exists so Dual Look can still be a hand up — without contaminating the credit box.

Who we actually approve in the 48 (account-based, not a flat rate)

Unit — smaller first note, they prove they can pay

Loss defense is size, not a 36% mill: we often book less than they asked. More credit later is proprietary underwriting after they demonstrate payment — not a promised ladder, not on this tape. Payment on the $1,500 / 24 mo unit is $86.98.

Why PIFC is higher here

Standard give-back is 20% of interest (~$177). Second Look is 35% of interest (~$206 on $1,500 / 24 mo) — a larger share of interest so the smaller loan still ends with a real asset. After PIFC they still paid a real price (28.5%). Still far below OppLoans 99–195% and payday ~391%.

ClearAsk · no mods · loan enhancement

• Why this amount, this week — and we may approve less than asked so they prove payment.
• Temporary shock (layoff, medical, divorce) vs chronic over-obligation. ATR still wins at 33.99%.
• We never modify a loan. If the relationship changes, we pay off the current note and book a new loan.
• That new loan is a loan enhancement. Last three digits of the ID are 000 (original) or 001+ (paid off a prior TrueTerm loan).
• Enhancement never has worse terms than the loan it retires. About 90% of the time it is more principal after payoff. Rate cuts only if market rates fall sharply — proprietary, not a promise.
• If a current customer simply asks for another loan, it is a new application. UW sees they are on book and decides: decline, wait, or enhancement. No stacking two open notes.
• More size after the $1,500 cap is that later new loan — not a rewrite of the first one.

Per 100 applications this is an $18,000 side book (12 × $1,500) next to ~$127,500 of standard originations. Small on purpose. Subsequent credit after demonstrated payment is proprietary UW and is not in the facility model. If this book ever mattered to a warehouse, it would be a separate pool, separate advance, separate loss trigger.

33.99% so MAPR stays under the 36% Military Lending Act ceiling with fee headroom. $0 origination. Loan IDs: TT-YYYY-NNNNNN-EEE. Subsequent credit rules are proprietary and are not a customer or investor ladder. OppLoans 99–195% and payday ~391% are the alternative this file is offered today. Illustrative. Not a consumer offer. Not a securities offering. Not licensed lending unless disclosed in-app.

TrueTerm

Investor page 2 of 2 · Seed book
Illustrative · not a securities offering

We know how the first book is built.

A company that lends has to show unit, pace, and a tape — not a slogan. TrueTerm’s seed book is a $1M loan pool at a $3,000 expected average, originated over nine months. When that pool is placed, the next raise is argued from actuals.

Capital identity

Unit economics (planning)

Nine-month placement (straight-line originations)

What month 9 hands the next round

Source: FLS-SeedsOS/docs/pitch/model/seed_pool_9mo.py · 37 × 9 × $3,000 = $999,000 (≈ $1M pool). Illustrative operating plan. Not a guarantee of originations, yield, or losses. Not licensed lending unless disclosed in-app.