# Direct Lending Fund Model

Model a direct lending fund with loan-by-loan origination, yield, defaults, and fund performance—without missing accrued interest or covenant breaches.

- Canonical: https://finamodel.com/templates/direct-lending
- Download (.xlsx): https://finamodel.com/templates/direct-lending.xlsx
- Category: Credit
- Model type: Fund / Waterfall
- Difficulty: Intermediate
- Audiences: Credit & risk, Bankers & advisors
- Tags: lending, credit, yield, covenant, fund-performance

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