Sep 10, 2026

Private Credit / SBIC Case Study Prep

Hi everyone,

I’m interviewing for a Private Credit Associate role at an SBIC fund focused on lower-middle-market companies. I’m at the final stage and was told there will be both a take-home modeling test and an investment case study.

For anyone who has gone through a similar process at a private credit, direct lending, or lower-middle-market debt fund, would you be willing to share any case studies, modeling tests, or free resources you’ve used to prepare?

The case study will involve reviewing materials on a private company, analyzing its ability to support debt, thinking through how to structure the deal, and ultimately making an invest/pass recommendation.

Deal structuring is relatively new to me, so any resources on approaching private credit underwriting cases would be greatly appreciated. Thanks!

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