For lenders · Members only
Membership first. Details after.
Tenon is a closed circle. Identity and business verification, written representations and Utah’s transaction count come before you see any borrower. Nothing is listed on this website.
Lending through Tenon is available only to members who complete onboarding and sign written representations. This website does not list, offer, or solicit participation in any specific loan.
Members only, from the first page
Before you see a single borrower profile, you complete onboarding: identity and business verification, written representations about your experience and the business purpose of your lending, a W-9, and Utah’s transaction count. The deal room is closed. It is not previewed on this website.
Know the business
Every profile shows the verified documents, bank-observed cash flow, the Tenon Score worksheet with its 7 components, the existing debt and lien picture, the owners, and the use of proceeds. You can ask the borrower questions through the deal room. You decide; Tenon shows its work.
Whole notes, in your name
You hold a promissory note from the borrower, not a piece of something. Same rate, schedule and collateral as the other lenders on the loan, with a personal guarantee from the owners, a UCC-1 filed for you, and an intercreditor agreement that treats every lender on the loan equally.
Straight to the borrower, straight back to you
At closing you send your share straight to the borrower. Every month the borrower pays you straight back by ACH. Tenon has no account in the middle. It watches the flows with read-only bank data and tells you what happened.
The rule
Up to 5 lenders per loan. All or nothing.
Each loan is filled by up to 5 members. The minimum share is the loan amount divided by 5, rounded up to the nearest $5,000. A member may take more than the minimum, up to the whole loan.
A pledge is a commitment, not a transfer: no cash moves when you pledge. A pledge is binding once you submit it, so read the terms first; you cannot withdraw it. Pledges expire 30 days after a loan is listed. The loan closes only when pledges reach 100%; otherwise every pledge releases and nothing happens. A pledge also releases if the listing is cancelled or a closing condition is not met. You are never left as the lone lender on a loan that was meant to have five.
| Loan amount | Minimum share |
|---|---|
| $100,000 | $20,000 |
| $150,000 | $30,000 |
| $250,000 | $50,000 |
The paperwork
What Tenon does
- Builds and verifies the borrower profile, with page citations for every number
- Runs the credit box, so what you see has already cleared a written standard
- Papers the closing: note, personal guarantee, UCC-1, intercreditor agreement, Utah disclosure statement
- Generates the amortization schedule for your note
- Sends payment reminders to the borrower and confirms each payment against bank data
- Sends you a monthly statement and a year-end interest statement (Form 1099-INT where required)
- Tracks your Utah transaction count and tells you where you stand
- Coordinates the notices if a payment is missed
The fee
What it costs
A flat administration fee of $100 to $150 per note per year, invoiced by Tenon, LLC. That is the whole fee: Tenon takes no success fee on the lender side and no share of the interest on your note.
Utah
The five-transaction rule
Utah treats a person who makes more than 5 commercial financing transactions in the state in a 12-month period as a “provider” who registers with the Utah Department of Financial Institutions. Tenon counts for you on a rolling basis and flags it before you pledge a sixth. Registration is a form and a fee, and Tenon will walk you through it.
Plainly
What can go wrong
A borrower can stop paying. Collateral can be worth less than the balance when it matters. A personal guarantee is only as good as the person behind it. Money you lend through Tenon is not insured by anyone, and Tenon, LLC does not guarantee repayment. The score and the credit box are inputs to your judgment, not a substitute for it. Lend only what your business can afford to have tied up for the full term, and to lose.
Membership
Ask about membership
Tell us who you are and how you lend. Onboarding starts with a conversation, then verification and written representations.
Lender interest form