Percent

Percent (formerly known as Cadence) is a private credit marketplace founded in 2018 that gives accredited investors direct access to short-duration corporate, consumer, and small business credit deals — the same asset class that has historically been dominated by institutional investors like BlackRock, Ares, and Blackstone. The platform has facilitated over $1.5 billion in transactions since inception, with most deals structured as senior secured loans to specialty finance companies, fintech lenders, and small business lending originators. Percent is an SEC-registered broker-dealer through Percent Securities, LLC, a FINRA member.

The platform's flagship product is Blended Notes — diversified credit portfolios that spread investor capital across multiple underlying loans with durations typically under 12 months, offering higher-than-treasury yields with meaningfully shorter lockup periods than traditional private credit funds. Percent publishes detailed, quarterly platform-wide performance data, which is unusual in private credit and shows a realized loss rate of around 2.04% against an average APY of 17.91% on deals originated before November 2024. However, the platform's average recovery rate on defaulted deals is only 19.86%, meaning that when a loan goes bad, investors typically recover a fraction of their principal — a risk profile that makes diversification across many Blended Notes essential for any investor deploying meaningful capital.