THE FUND FINANCE PROFESSIONAL - COMPANION FILES
julianrsterling.com/fundfinance

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Revised 22 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's workbooks
   Borrowing_Base_and_Availability.xlsx          Chapters 3 and 4
   The_IRR_Effect_of_a_Subscription_Line.xlsx    Chapter 7
   NAV_Facility_Underwriting.xlsx                Chapters 8, 9 and 10
   The_Coverage_the_Book_Asks_For.xlsx           Chapter 14 and Appendix H
   00_START_HERE.md

2. Blank_Model_Set/  (new)
   Borrowing_Base_and_Availability_Blank.xlsx, NAV_Facility_Underwriting_Blank.xlsx
   The same formulas with every input emptied. The checks sheet counts the inputs
   still empty and runs the tests that hold on any facility. The book's inputs are
   in book_inputs.txt inside this folder.

3. Working_Documents.pdf  (new)
   Four working documents on eight printable pages: the subscription and NAV
   diligence checklists of Appendix B, closing readiness and the monthly
   operations checklist, a borrowing-base and loan-to-value worksheet, and the
   NAV asset review page with the credit memo check. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_The_Investor_Who_Drops_Out.xlsx          a borrowing-base deficiency and its cure
   Case_2_The_Line_That_Moves_The_Carry.xlsx       a subscription line and the waterfall
   Case_3_The_Distribution_The_Fund_Borrows.xlsx   a NAV-funded distribution, for whom
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
