BDCs
What Is a Non-Accrual Loan? How It Hits BDC Income
Non-accrual is when credit trouble reaches reported income. Learn what stops, what the ratios mean and how the damage can reach a BDC dividend.
Drift Research Team
BDCs
Floating-Rate Loans Explained
A floating-rate loan can raise BDC income and borrower stress at the same time. Here is the mechanism, the math and the investor test.
BDCs
What Is NAV? BDC Book Value, Discounts and Premiums
NAV is the BDC investor’s trust gauge: a way to judge whether the reported value of the loan book still deserves belief.
BDCs
How BDC Dividends Actually Work
A BDC dividend is the last payment in a chain that begins with a private borrower. Here is how cash becomes income, coverage and, finally, a shareholder distribution.
BDCs
What Is a Business Development Company (BDC)?
BDCs are not just high-yield stocks. They are public gateways into private credit, where the dividend is only the output of a deeper lending machine.
Private Credit
What Is Private Credit? A Plain-English Guide to Private Lending
Private credit is privately negotiated debt. Here is how a loan moves from a borrower to an investor, where the income comes from, and where the risk hides.