Nothing here is broken. The owners have been invited onto AI-data-center cap tables in multiple states, and they are open to off market deals that move cash across sectors while that window is open. This one has strong fundamentals on both sides of the table, and that is exactly why it sits on Off Market Deal Room.
Read in a half second each. The full proof, sourced, is one click away, for whoever you hand this to.
Operates with an FDIC bank partnership that allows rate exportation beyond individual state rate caps. A partner bank FDIC arrangement, live across 30 states today with reach toward 50.
One of the lowest charge-off rates in the title loan category, if not the lowest, by the owner's account. In specialty finance, credit performance isn't a feature. It's the entire equity story.
Approximately 100% secured paper. Full repossession and liquidation discipline. This is asset backed lending, not unsecured subprime.
Countercyclical by design. Title holds up in a downturn and the credit box expands as new customers enter the market. In a credit committee memo, this is the line they underline.
Digital first origination at a fraction of the dominant brick and mortar incumbent's cost, against a fragmented field of subscale operators getting squeezed out by tightening caps.
Current APR ~125%, with demonstrated headroom tested into the 150-175% range, deliberately held below the market ceiling. That gap is unrealized revenue, not market risk.
The buyer's lens determines the multiple. The valuation hub maps all three.
Charge-offs are the moat; countercyclical, asset backed, in a category they already underwrite. The credit memo writes itself.
A regulatory wedge, a category leading operator, and a fragmented field to consolidate. The wedge wins the rollup; the rollup wins the exit.
Refund the book at deposit cost for 200 to 400 bps of immediate margin, and follow the public company play: acquire a small bank and own the charter directly. For a bank, that optionality is half the price.
03 / The spread
The floor is what anyone can see. The ceiling is what the tape supports. The spread between them is the opportunity.
Start with the owner's story. The valuation and the memorandum prove it out, fully sourced.
The three mispriced tensions, the pricing headroom lever, and the diligence questions, distilled from the management call.
Read the insights → The full valuationEvery argument, every comp, the bridge math, the sensitivity grid, and the honest downside case, each figure tagged and sourced.
Open the valuation hub → Sell side memorandumBusiness profile, financials, bank partnership strategy, and the investment thesis: the document your deal team reads cover to cover.
Open the CIM →Trading multiples verified against live tape (2026-06-03): EZCorp (EZPW) 17x TTM and FirstCash (FCFS) 27x TTM net income, the secured pawn cohort that anchors the floor and ceiling. M&A precedents verified against public SEC filings. Every figure in the valuation hub carries its source tag.
No contracts, no signature pages, no data room exhaust. This is the room you use to make the decision, not the binder you use to defend it. Those live with the deal team, on request.
Project Helios is a codename. This is an off market, anonymized presentation prepared for a qualified buyer audience. Do not forward.