We provide lender-ready capital raise packaging and debt or equity placement support for business owners and buyers looking to secure serious term sheets and close funding on a defined timeline.
For business owners and acquirers pursuing private debt or equity, submit your deal for review. We revert within one working day with next steps and either a quote for our services.
For pre-submission discussions, we offer paid consultations. To initiate underwriting and lender outreach, submit the deal.
If you are entering the Texas power market, this point matters from day one: ERCOT and the Public Utility Commission of Texas (PUCT) both deal with financial assurance, yet they do it in different ways and for different purposes. If your team mixes those layers, filings get delayed and market access can stall.
Before anything else, a quick correction that saves confusion in live discussions: PUCT is public, not private. It is the state regulator. ERCOT runs market operations and settlement under the Texas market framework.
Direct answer: a standby letter of credit is not always the only route, but it is frequently the cleanest route in practice.
At ERCOT level, credit support can be posted through accepted forms such as cash, letters of credit, and surety bonds under ERCOT credit rules and forms. At PUCT REP level, Rule 25.107 includes an SBLC pathway for access to capital and also permits alternate structures in specific cases.
For transaction support and structuring workflow, see our ERCOT and PUCT compliance page.
Short version for sponsors and new entrants: If you want speed and fewer iterations with counterparties, banks, and counsel, use the approved templates early and match the filing method to your exact operating model. Most delays come from non-standard forms, not from rule complexity.
ERCOT is focused on settlement integrity and counterparty credit risk. The market clears, invoices are issued, and payment performance must hold under stress periods too. That is why ERCOT keeps formal credit mechanics and approved instruments in place. You can review the ERCOT credit portal, FAQs, and the current credit management deck directly:
ERCOT credit portal , ERCOT Credit FAQs , ERCOT Credit Management.
From a sponsor perspective, this means your credit support is not a branding exercise. It is a hard risk-control input into market participation and ongoing exposure control. If you submit weak paper or a non-conforming format, you burn time and credibility.
PUCT Rule 25.107 sets the certification and ongoing obligations for REPs. In plain terms, the rule is not a casual checklist. It includes financial standards, documentation standards, and form standards. The Rule 25.107 text and PUCT REP resources are here:
16 TAC §25.107 text , PUCT Rule 25.107 page , PUCT REP registration and reporting guidance.
Rule language includes a pathway where an Option 1 REP may maintain an irrevocable standby letter of credit for access to capital, with value tied to required metrics under the rule’s table. The rule also allows other structures in defined circumstances, including approved guaranty structures. It is not accurate to say PUCT always forces one single instrument in every case.
There is one more point many teams miss: where customer deposits and prepayments are involved, the rule allows protection through escrow account, segregated cash account, or SBLC, with coverage maintenance requirements. If SBLC is used there, form and filing details still need to match commission standards.
The standard PUCT irrevocable SBLC form is published here: PUCT adopted SBLC template.
| Point | ERCOT Layer | PUCT Layer |
|---|---|---|
| Primary objective | Protect wholesale settlement system and market credit exposure. | Set REP certification, financial standing, and customer protection standards. |
| Is SBLC always the only option? | No. ERCOT credit support can include cash, letter of credit, and surety bond under ERCOT credit rules. | No. Rule 25.107 includes SBLC pathways and also allows alternate structures in defined rule sections. |
| Template strictness | High. ERCOT-approved forms and issuer standards apply. | High. Commission-approved standard forms and filing method apply. |
| Operational risk of getting it wrong | Collateral calls, rejection, or participation friction. | Certification delays, amendment issues, or compliance exposure. |
| Who typically coordinates | Treasury, market operations, external counsel, issuing bank. | Regulatory counsel, compliance lead, treasury, issuing bank. |
If your credit package is clean, timeline stays on track. If not, every commercial milestone moves right.
Power market counterparties can spot weak documentation in minutes. One bad filing can shadow the next negotiation.
Fast, compliant credit support can lower friction and reduce downstream repricing pressure from banks and risk teams.
Using official templates from the start cuts legal loops and avoids duplicate drafts across advisory, legal, and treasury teams.
Hard reality: there is no shortcut through broker talk, draft screenshots, or recycled templates from unrelated sectors. In this market, template fidelity and filing discipline matter more than sales language.
If your goal is to move quickly with less friction, run this sequence:
Financely runs transaction-led support for teams that need an execution path, not theory. We structure the SBLC workstream, coordinate document quality, and keep filings tied to the real transaction timeline. If you are comparing alternatives, the most relevant starting point is our dedicated Texas power market page: letters of credit for ERCOT and PUCT compliance.
Send your target structure, timeline, and current draft set. We will map the compliance route and coordinate issuance workflow.
No. ERCOT credit frameworks include multiple accepted forms of financial security. SBLC is common, but not the only instrument.
No. Rule 25.107 includes SBLC pathways and also includes alternate financial structures in defined sections. The right answer depends on your REP profile and operating model.
Not by default. Some inputs overlap, but each layer has its own rule logic, form rules, and review focus. Treat them as coordinated but separate tracks.
Use approved templates from the first draft, match instrument choice to your exact obligations, and keep legal, treasury, and operations on one controlled tracker.
Financely is a transaction-led capital advisory desk. Engagements are best-efforts and subject to underwriting, KYC, AML, sanctions screening, capacity, and third-party approvals. Financely is not a bank and does not provide legal advice.
Financely advises growth-focused businesses on accessing capital by introducing their opportunities to professional investors. Financely is not a securities broker or dealer. Where appropriate, engagements are coordinated with regulated broker-dealers, investment banks, legal counsel, and other specialists.
Financely does not solicit, offer, or accept orders to buy or sell securities and makes no assurance regarding capital-raising outcomes.
Services are strictly business-to-business. Financely does not provide personal finance, consumer credit, or retail advisory services.
Advisory services are reserved for post-revenue companies that recognize the time and resources required for professional underwriting.
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All mandates start with an RFQ. We review submissions, issue a brief Go/No-Go memo, and where bankable, release a Term Sheet that leads to funding. We arrange capital across Senior Secured, Unitranche, Second Lien/Mezzanine, Preferred Equity, and Gap Solutions. We do not process deals by email or chat.
Letters of Credit, Standby LCs, Confirmations, Receivables Finance, and Inventory Lines with control.
Funding arranged for trade flows with instruments sized to your cycle and aligned to delivery and settlement.
Move forward to secure working capital and keep goods moving. Submit the RFQ to start underwriting for funding.
Limited or non-recourse structures for energy and infrastructure with lender-ready materials.
Funding solutions aligned to project cash flows with credible covenants and conditions to reach notice to proceed.
Advance the file to termable status. Submit the RFQ so we can underwrite and secure funding.
Debt and Preferred solutions anchored on cash flow, Quality of Earnings, and clear closing mechanics.
Funding across senior, unitranche, and preferred to match stable cash flows and acquisition timelines.
Get financed on workable terms for closing. Submit the RFQ to start underwriting.
Acquisition, development, bridge, and refinance with lender-ready packs and third-party reports managed.
Funding calibrated to DSCR, leverage, and tenancy with terms designed to close.
Move to a financeable package. Submit the RFQ to initiate underwriting for funding.
KYC and Source of Funds required. Engagements are best-efforts and subject to underwriting. Preference for operating companies with meaningful revenue. See our FAQ and Procedure.
Financely Inc. (“Financely”) provides corporate-finance advice and is wholly owned by Aurora Bay Trust, a trust formed under Bahamian law, together with its authorized affiliates. Depending on deal structure, jurisdiction, and local rules, engagements may be carried out through Financely Group LLC, a non-deposit-taking, non-banking financial company; Ashford Capital Advisory LLC; or another related entity.
Financely and its affiliates are not registered as securities broker-dealers and do not execute securities transactions or hold client funds or securities. When a mandate involves the purchase or sale of securities and a registered intermediary is required, any orders are introduced to and executed by one or more independent U.S. broker-dealers registered with the SEC and FINRA. Those broker-dealers are solely responsible for trade execution, custody, and related regulatory obligations. Nothing in this material constitutes an offer, solicitation, or recommendation to buy or sell any security or to engage in any specific transaction. Before engaging Financely Group LLC, Ashford Capital Advisory LLC, or any affiliate, you are responsible for confirming that such engagement complies with your own legal, regulatory, tax, and other requirements. In the United States, certain advisory activities may be conducted in reliance on exemptions available under the Investment Advisers Act of 1940, including the “foreign private adviser” exemption where applicable. Our services and regulatory status may vary by jurisdiction and by transaction type.
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