Perer: How do you think about solving the distribution paradigm for how most borrowers reach both bank and non-bank lenders?ījonerud: We’re solving the problem by collecting the underwriting criteria from thousands of bank and non-bank lenders and then program them into a dynamic algorithm that changes as lender’s risk appetite changes. Cerebro is also using data to help bring about innovation from lenders in the form of new loan structures and service models. The corporate lending industry has been left out of the technological revolutions seen across almost all other industries from real estate to dating….Rocket Mortgage,, Airbnb, Amazon, etc.Ĭerebro is working to evolve how lenders and borrowers access the middle market by using technology to make access easier, faster.
The last great evolution in technology for the lending industry was the Excel spreadsheet. Perer: What is the pain-point you are trying to solve?ījonerud: The way that lenders have sourced business and borrower have found debt capital has not changed in several decades. They shouldn’t need to figure out whether they can get a loan, what loan options are available, which bank and banker is going to provide the best terms, and how will they find the time to complete the underwriting and closing process. We want to do that by being the primary place companies go for loan options between $1 - $100 million and by being the primary place lenders go to find new borrowers.Īt Cerebro, we want to usher in a world where the only things commercial borrowers have to worry about is how large of a loan to take. Perer: Please tell us about the mission of Cerebro Capital for those who don’t know about it.ījonerud: Our vision at Cerebro is to unleash the flow of debt capital to mid-market businesses from the limitations of personal networks. They did this by using dedicated capital markets teams, sophisticated financial tools, and access to data that enabled them to create an efficient process to access both institutional debt and equity. Their considerable resources enabled them to assess their financial options and execute transactions. Now contrast that to the large private company I worked for in Baltimore. There are too many barriers separating lower- and middle-market borrowers from capital providers. I knew from my previous experience as a banker for the middle market, that smaller companies did not have the same resources, bandwidth, expertise, or access to data, which made accessing credit harder than it needed to be. Perer: What led you to found Cerebro Capital?ījonerud: I wanted to democratize access to capital for lower- and middle-market borrowers while also taking away the heavy lifting associated with closing a loan. Having both big bank and corporate experiences shaped my thinking greatly in terms of voids in the market and how companies access debt. Later, I was recruited by a local private company to help manage their debt portfolio and help the company launch their IPO. I started in banking right before the 2008 credit crisis and spent the next eight years in banking at PNC Bank, predominately in originations following roles in credit and underwriting. Matt Bjonerud: My whole career has been in corporate finance. To begin, can you please talk briefly about your background?
#Cerebro capital series#
In this installment of our series of executive interviews, Charlie Perer sits with Matthew Bjonerud of Cerebro Capital to hear his perspective on the state of the debt capital markets, building a new distribution channel, the future of lending and technology, among other things.Ĭharlie Perer: Thank you for your time, Matt. Member Search: SFNet Annual Member Pricing.SFNet International Finance & Development Committee.Diversity, Equity and Inclusion Committee.SFNet Committee Articles, Data and News.Listing of State-by-State Financial Disclosures Legislation.SFNet Compendium of Secured Finance Law.Asset-Based Lending & Factoring Surveys.Impactful Leadership for High Potentials.SFNet Emerging Leaders Summit (YoPro Leadership Summit).SFNet's Women in Secured Finance Conference.SFNet's International Lending Conference.2nd Annual SFNet Cross-Border Finance Essay Contest.SFNet Hall of Fame – Lifetime Achievement Awards 2022.
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