Engagement Proposal — Hook Street Capital LLC

Business-Credit / Receivables-Purchase Underwrite

To: [Client] Date: [date] Re: Underwrite of [Business] Valid: 14 days

Engagement. You've asked me to independently underwrite [Business] and its receivables ahead of
[advancing $X against / purchasing] them. I'll deliver an objective read so you know whether to fund,
how hard you can go, and on what terms.

Deliverable.
1. Normalized profitability read (real earnings, margins, trend).
2. Receivables underwrite — aging, customer concentration, collectibility, verification of key
invoices, creditworthiness of the payers.
3. Recommended structure — supportable advance rate, discount/fee, reserve; risks + any deal-killers.
4. A one-page summary + the working model, plus a screen-share review call.

Fee. ☐ Full underwrite: $[____] ☐ Quick go/no-go screen: $[____]
- 50% deposit ($[____]) to begin; 50% balance on delivery. Deposit non-refundable once work starts.
- [Retainer option: $[____]/mo — [N] underwrites/mo + on-call screening; billed monthly in advance; month-to-month, 30-day notice.]

Timeline. Deliverable within [X] business days of receiving complete materials and the deposit.

To start, send: P&L (2 yrs + YTD) · bank statements (3–6 mo) · tax returns · receivables aging ·
customer list · your proposed deal terms.

Excluded (separate engagement if needed): legal opinion on the funding structure, ongoing
monitoring, and re-underwrites after terms change. I underwrite the business and the receivables;
the legal structure of your funding is yours and your counsel's.

Accepted: _____ [Client] Date: ______
Sam Treitel · Hook Street Capital LLC · sam@hookstreetcapital.com