Supervest vs Percent 2026
Supervest means supervest.com: fixed-rate notes of Supervest Investments, LLC series and the self-directed Supervest MCA LLC. Percent means percent.com: deal-by-deal private credit notes arranged by Percent Securities, LLC.
Both sell accredited investors short-term credit notes, and both touch merchant cash advances. They differ on what your note is a claim against, who bears the losses you can see, and how much either one tells you while you hold it.
Guide Thesis
Compare the legal claim, the exposure, the reporting and the net coupon, not the headline rate.
TL;DR
The comparison in two sentences
Supervest pays a fixed 10% to 15% with no fee line on $25,000 notes from a Supervest-managed MCA pool, but its spread, its notes' security and its current loss data are not public and its term can be extended at the manager's discretion. Percent sells slices of named financings, many at $500 and including MCA portfolios from time to time, takes 10% of the interest, and publishes deal-level credit data, a charge-off rate and, in AltStreet's capture, 72 of 1,125 deals in workout or reperforming.
If you read nothing else: jump to what each platform discloses →
Start here
What you actually lend to: a series, holding very different things
Every product here is a note issued by a series LLC. On Supervest the series is a pool Supervest manages; on Percent it is built around one financing you chose.
| Product | What you hold | Minimum | What drives your return | Tax form |
|---|---|---|---|---|
| Supervest notes (Series A to E) | A fixed-rate promissory note of a series of Supervest Investments, LLC that holds MCA participations chosen by Supervest | $25,000 per note, up to $5,000,000 | The fixed coupon (10% to 15%); security, ranking and loss allocation not publicly disclosed | 1099-INT |
| Supervest self-directed MCA | Participation interests in advances through Supervest MCA LLC, chosen by your criteria | $1,000,000 | The advances' collections less a management fee not published on the site | Not stated in materials reviewed |
| Percent marketplace deal | A note of a deal-specific series tied to one financing to one borrower or originator | Many deals at $500 | The deal's coupon less 10% of interest; losses on that deal fall on its noteholders | 1099-INT (most deals) |
| Percent SMA | A managed account across Percent deals | $1,000,000 | Portfolio results less 1% a year | Varies by structure |
At a glance
Side-by-side at a glance
| Feature | Supervest | Percent |
|---|---|---|
| Sponsor | Supervest, Inc., New York (founded 2018); issuers Supervest Investments, LLC series, Supervest Financing, LLC series, Supervest MCA LLC | Percent, New York (founded 2018); Percent Securities, LLC, registered broker-dealer since August 2023 |
| Underlying credit | Merchant cash advances only; more than 20 funders on the platform, per-series mix not disclosed | Consumer loans, SMB financing including MCAs, receivables, corporate loans, litigation finance and more |
| Coupons | 10%, 12%, 12%, 14%, 15% fixed by note | Per deal; MCA deals 10.75% to 22.5% (median 14.25%) |
| Investor fee | None stated on notes; spread undisclosed | 10% of interest paid |
| Minimum | $25,000 per note; $1,000,000 self-directed | Many deals at $500 |
| Term | 12 to 36 months; manager may extend | Per deal; MCA deals median 9 months |
| Latest credit data | March 31, 2024 delinquency on two original notes | Deal-level, current; platform charge-off rate about 0.9% |
| Early exit | None | Eligible deals only, by indication of interest, no guarantee |
| Volume on record | $58.1M of notes and $56.6M self-directed per Form D | 1,125 deals captured by AltStreet (October 2026) |
| AltStreet score | 32.3 (D+) | 58.1 (B) |
Head-to-head
Supervest vs Percent, factor by factor
Seven factors, from the legal claim to the regulatory record, with a $25,000 example beside the fee section. Coupons are compared before credit losses; platform-stated figures are labeled.
A pooled series note vs a deal-specific note tied to one financing
Supervest vs Percent: What You Lend To
Both platforms sell promissory notes issued by series LLCs, so in both cases your direct counterparty is a series, not the merchants or the platform's parent. What sits behind the series differs. A Supervest note (Series A to E of Supervest Investments, LLC) pays a fixed coupon from a pool of participations in merchant cash advances that Supervest selects; Supervest works with more than 20 funders, but allocation and concentration within each note series were not available in the materials reviewed, and the investor does not see or choose the advances. Whether a Supervest note is secured by those participations, how it ranks and how losses are allocated are set out in confidential offering documents, so AltStreet treats them as not publicly disclosed. A Percent note is issued by a series created for one deal, and its payments depend on one financing to one borrower, typically a specialty lender or MCA originator; each deal page states the seniority, the security details and the underlying portfolio, and many MCA deals come in senior and junior tranches. Both are affiliated arrangements: Percent's deal issuers are companies owned and controlled by Percent's parent, placed through its own broker-dealer (FINRA's 2026 findings), and Supervest issues and sells its own notes.
Practical answer
On Supervest you lend to a Supervest-managed pool at a fixed rate; on Percent you lend into one named financing at a time, with its terms on the page. The Supervest answer to 'what protects me' is in documents that are not public.
| Decision factor | What changes |
|---|---|
| Your counterparty | Supervest: a series of Supervest Investments, LLC (or Supervest Financing, LLC). Percent: a deal-specific series under Percent's platform entity. |
| What the series holds | Supervest: MCA participations chosen by Supervest; per-series allocation not disclosed. Percent: a financing to one borrower or originator, described on the deal page. |
| Security and ranking | Supervest: not publicly disclosed. Percent: stated per deal (senior or junior tranches; security details section). |
A platform built on MCAs vs MCA deals as one category among many
Supervest vs Percent: Merchant Cash Advance Exposure
Supervest is a merchant cash advance platform: every note series and the self-directed product put money into MCA participations. Percent is a broad private credit marketplace in which MCAs are one category. In AltStreet's Percent records, 60 of 1,138 deals describe merchant cash advance exposure, usually 'exposure to merchant cash advances originated by' a named originator, in senior and junior notes; coupons ran from 10.75% to 22.5% (median 14.25%) with terms of 2 to 29 months (median 9). Most ran from 2019 to 2023; one, a senior asset-based note funding a New Jersey originator's advances, was open in October 2026. None of the 60 carries a defaulted or restructured status in AltStreet's deal records, but missing adverse-status labels in that dataset do not establish that these deals had no defaults or losses. The rest of Percent's book is consumer loans, small-business receivables and leases, corporate loans, litigation finance and fund structures.
Practical answer
If you want MCA exposure specifically and continuously, Supervest offers it; Percent offers it intermittently, one originator at a time, alongside other credit.
| Decision factor | What changes |
|---|---|
| MCA share | Supervest: all products. Percent: 60 of 1,138 deals in AltStreet's records. |
| Typical coupon | Supervest: 10% to 15% fixed by note. Percent MCA deals: 10.75% to 22.5%, median 14.25%, before Percent's fee. |
| Originators visible | Supervest: no. Percent: named on each deal. |
No fee line and an undisclosed spread vs 10% of each interest payment
Supervest vs Percent: Fees and Net Coupon
Supervest charges note investors no fee: 'No fees are charged to our SV Note Offering investors and interest is fixed over the life of the investment.' Its compensation is the spread between what the advances earn and the coupon it pays, and that spread is not disclosed. On its self-directed product, the Form D reports an estimated $8.6 million management-fee allocation to the issuer, equal to about 15% of the $56.6 million sold; the filing does not give the fee rate. Percent's FAQ states that since September 1, 2023 each new deal pays 'a fee that is equivalent to 10% of each advertised interest payment (not your principal)', so 'an offering with a 15% Coupon Rate' pays 'a net Rate to investors of 13.5%'; its homepage says that for direct investing 'fees apply only to interest earned.' Percent's separately managed accounts charge 1% a year on committed capital.
Practical answer
At the same advertised coupon, Supervest's stated no-fee note leaves more interest before credit losses. Percent's cost is on the page; Supervest's is a spread you cannot see.
| Decision factor | What changes |
|---|---|
| Investor fee | Supervest notes: none stated. Percent: 10% of interest paid (deals since September 1, 2023). |
| Net of a 15% coupon | Supervest Series D: 15%. Percent: 13.5%. |
| Platform's other income | Supervest: undisclosed spread on the notes; estimated $8.6M Form D allocation on the self-directed product. Percent: fees on SMAs (1% a year) and its arranging role. |
Worked example
$25,000 for one year, before credit losses (hypothetical)
$25,000 is Supervest's minimum note. Supervest: the 15% Series D note. Percent: a hypothetical portfolio of 50 positions at $500 across Percent's broader marketplace (not only MCA deals, which are occasional), shown at the same 15% advertised coupon and at 14.25%, the historical median coupon of Percent's MCA deals, which is a reference point rather than an available portfolio yield. Whether 50 suitable deals are open over a given period varies. Simple interest, no reinvestment, no defaults. AltStreet arithmetic.
| Measure | Supervest (Series D, 15%) | Percent, hypothetical (same 15% coupon) | Percent, hypothetical (14.25% reference) |
|---|---|---|---|
| Gross interest, year 1 | $3,750 | $3,750 | $3,562.50 |
| Investor fee | $0 stated | $375 (10% of interest) | $356.25 |
| Net interest | $3,750 (15.0%) | $3,375 (13.5%) | $3,206.25 (12.8%) |
| Positions | One note on one pooled series | 50 deals across the marketplace | 50 deals across the marketplace |
| Who bears credit losses you can see | Not publicly disclosed; the coupon is fixed | Holders of each deal that loses | Holders of each deal that loses |
| When principal returns | At 36 months, unless the manager extends | At each deal's maturity, typically 6 to 36 months | At each deal's maturity |
At the same advertised coupon, Supervest's stated no-fee note leaves more interest before credit losses; actual Percent coupons vary by deal, above and below 15%. What the Supervest figure leaves out is the spread Supervest keeps, how its notes are secured and ranked, and current loss data.
A March 2024 update vs deal-level snapshots and a published charge-off rate
Supervest vs Percent: Delinquency, Default and Recovery Disclosures
Supervest's most recent portfolio data is a May 7, 2024 post: running 30-day delinquency of 2.08% (Mid-Term Note I) and 3.91% (Short-Term Note I) at March 31, 2024, when those two notes held $7.7 million and $1.3 million; nothing comparable has been published for Series C, D and E, which hold most of the $58.1 million of notes sold. Its FAQ says it has 'never missed, delayed, or fallen short on any principal or interest payment.' No note issuer has public financial statements, and the adviser's 2023 Form ADV answered no to an annual audit. Percent publishes far more: a Credit Snapshot on modern deal pages (overcollateralization, cash reserve, simple loss coverage, trailing default rate, largest obligor), a platform charge-off rate (about 0.9%, 12 charged-off deals), and a trailing net return after losses and fees of 13.7% for the year to March 31, 2026 on its asset-based deals (platform-stated). AltStreet's October 6, 2026 capture of all 1,125 Percent deals found 72 in workout or reperforming, a figure Percent's public pages do not surface. Neither platform publishes recovery rates on defaulted deals.
Practical answer
Percent discloses current deal-level credit data and a loss record; Supervest's latest figures are from March 2024.
| Decision factor | What changes |
|---|---|
| Latest delinquency data | Supervest: March 31, 2024, two original notes only. Percent: per deal, current; 72 of 1,125 deals in workout or reperforming (AltStreet, October 6, 2026). |
| Loss record | Supervest: 'never missed' a payment (platform-stated, unaudited). Percent: about 0.9% charge-off rate, 12 deals (platform-stated). |
| Recovery rates | Neither publishes them. |
| Financial statements | Supervest: none public for any note issuer. Percent: deal-level borrower data; broker-dealer files FOCUS reports. |
$25,000 into one pooled note vs $500 a deal across originators
Supervest vs Percent: Diversification and Minimums
A Supervest note starts at $25,000 (up to $5,000,000). Supervest works with more than 20 funders and selects advances with 'a proprietary credit box'; allocation and concentration within each note series were not available in the materials reviewed, and investors see neither the funders nor the advances. Investors with $1,000,000 can use the self-directed product to set criteria themselves, with 'a maximum of 5% of an investment in a singular business'. Percent says many of its deals have $500 minimums, so an investor can build their own spread across originators, asset types, seniority and terms over time, at the cost of choosing and monitoring each deal; how many deals are open at once varies. The Percent review suggests 20 to 50 positions for a diversified marketplace portfolio.
Practical answer
Supervest decides the mix and does not disclose it per series; Percent leaves the mix to you.
| Decision factor | What changes |
|---|---|
| Minimum | Supervest: $25,000 per note; $1,000,000 self-directed. Percent: many deals at $500; SMAs from $1,000,000. |
| Originator choice | Supervest notes: none. Percent: each deal names its originator. |
| Concentration limit | Supervest self-directed: 5% per business. Percent: set by the investor. |
A manager-extendable term and no exit vs workouts and an indication-of-interest secondary market
Supervest vs Percent: Maturity, Extensions and Getting Out Early
Supervest's note pages state that 'the term of a Note is generally offered to investors at the discretion of the manager, and may exceed the estimated term by a significant amount of time,' and its FAQ says 'funds invested into our note offerings are inaccessible until the maturity date of the note.' At maturity principal is paid or rolled into a new note; there is no secondary market, and the extension terms are in documents AltStreet did not use. On Percent, three different things can happen and they should not be confused. An extended maturity is a change of terms and is not by itself a default. A deal that stops paying moves into workout or restructuring, where recovery depends on its collateral and terms. A deal that resumes payment after distress is 'reperforming'. Charge-off is the realized loss. Percent's secondary market, running since February 2026, takes non-binding indications of interest on deals Percent marks eligible, which it determines 'based on deal structure and other factors'; its FAQ does not say whether deals in workout are eligible, a match is not guaranteed, and each completed trade costs buyer and seller 0.50%.
Practical answer
Size a Supervest note as money you cannot reach until the manager repays it; on Percent, treat early sale as possible for some deals, not as an exit you can count on, least of all once a deal is in distress.
| Decision factor | What changes |
|---|---|
| Extension | Supervest: at the manager's discretion, 'by a significant amount of time'. Percent: a change of terms on a given deal, not by itself a default. |
| Distress | Supervest: not reported per series. Percent: workout or restructuring, then reperforming or charge-off. |
| Early exit | Supervest: none. Percent: eligible deals only, by indication of interest, 0.50% fee each side, no guarantee. |
| Maturity choice | Supervest: 12 to 36 months by note, roll over optional. Percent: per deal, typically 6 to 36 months. |
Late Form Ds and a pending merchant suit vs a registered broker-dealer with a 2026 FINRA fine for late filings
Supervest vs Percent: Regulatory Record
Supervest's issuers sell under Rule 506(c) with Form D notices; six series filed their first Form D 15 to 29 months after their first sale, and the site still describes its adviser as an exempt reporting adviser although IAPD shows that status withdrawn in April 2024. A merchant's civil RICO suit naming Supervest, Inc. and SV Capital Management (M.D. Fla. 8:25-cv-02510) was dismissed on pleading grounds in July 2026; a motion to reopen was filed October 19, 2026, and the allegations are contested. No SEC or FINRA action was located. Percent sells through Percent Securities, LLC, an SEC-registered broker-dealer and FINRA member since August 2023 that files annual FOCUS reports; its deals rely on Rule 506(c) (506(b) for older vintages). In a FINRA acceptance, waiver and consent dated June 9, 2026 (case 2024080953801), Percent Securities was censured and fined $60,000 for failing to file offering documents with FINRA on time for 372 private placements by issuers owned and controlled by its parent, between 3 and 164 days late; it neither admitted nor denied the findings. Both platforms, then, have filing-timeliness findings: Supervest's late Form D notices are a compliance-record item with no regulator action, while Percent's late FINRA filings drew a censure and a fine.
Practical answer
Percent sits inside the broker-dealer framework, which brings oversight and, in 2026, a FINRA fine for late filings; Supervest sells its own notes outside it, with late Form Ds and a pending merchant suit.
| Decision factor | What changes |
|---|---|
| Seller registration | Supervest: none. Percent: registered broker-dealer, FINRA member. |
| Exemption | Both: Rule 506(c), accredited only. |
| Regulatory and legal record | Supervest: late Form D notices; MT Products suit, reopen motion pending. Percent: FINRA AWC June 9, 2026, censure and $60,000 fine for late filings on 372 offerings. |
| AltStreet score | Supervest 32.3 (D+); Percent 58.1 (B), including the 2026 FINRA action. |
How to read the scores
What 58.1 against 32.3 does and does not say
AltStreet scores four pillars (methodology). The gap is mostly disclosure and structure: Percent's broker-dealer framework and deal-level data against Supervest's unaudited issuers and dated reporting. Neither score predicts how a particular deal or note will perform.
| Pillar (0 to 100) | Supervest | Percent | What drives the difference |
|---|---|---|---|
| Operational Risk | 21.2 (F) | 47.2 (C+) | No audited statements and a pending suit at Supervest; a registered broker-dealer at Percent, scored with its June 2026 FINRA action as a minor compliance issue |
| Investment Merit | 50.0 (C+) | 67.2 (A-) | Percent's realized record across 843 repaid notes against Supervest's unaudited payment claim |
| Transparency & Alignment | 29.5 (D) | 63.4 (B+) | Deal-level Credit Snapshots and a stated fee against an undisclosed spread |
| Liquidity & Access | 20.0 (F) | 50.0 (C+) | Percent's secondary market and shorter terms against an extendable lockup |
Final read
Bottom line
At the same advertised coupon, Supervest's stated no-fee note leaves more interest before credit losses: a fixed coupon from a pool of merchant cash advances that Supervest runs. What you give up is visibility: the spread it keeps, the notes' security and ranking, current loss data and a firm maturity date are not public. Percent pays less after its 10% fee, but it tells you what each note is backed by, who originated it and how the platform's deals have performed, lets you spread money across originators yourself, and sells through a registered broker-dealer.
If merchant cash advances are the point, Supervest is the dedicated venue and Percent an occasional one; if knowing what you hold is the point, Percent is the better-documented choice. On either, size positions as credit that can lose principal.
Primary sources
Sources and access
Supervest (SEC EDGAR, platform and dashboard)
- ›Supervest MCA LLC filings (CIK 1796588): Form D/A of July 17, 2026: $56.6M sold, estimated $8.6M management-fee allocation.
- ›Supervest Investments, LLC Series D (CIK 2057882): One of eight note-series Form Ds totaling $58.1M sold.
- ›Supervest note pages and FAQ: Coupons, terms, the extension footnote, 'no fees', payment-record claim; read October 22, 2026.
- ›Supervest Q1 2024 note update: Running delinquency 2.08% and 3.91% at March 31, 2024.
Percent (platform and SEC EDGAR)
- ›Percent FAQ: Fee 'equivalent to 10% of each advertised interest payment' since September 1, 2023; secondary market mechanics; read October 22, 2026.
- ›Percent homepage: Trailing net return after losses and fees, 13.7%, year to March 31, 2026 (ABS deals).
- ›Percent Securities, LLC (CIK 1863789): Broker-dealer FOCUS reports.
- ›AltStreet Percent capture: All 1,125 deals as of October 6, 2026, including workout status; MCA deals from AltStreet's deal records, whose status labels do not establish the absence of defaults.
FAQs
Supervest vs Percent: Common questions
Does Percent offer merchant cash advance investments?＋
Yes, occasionally and deal by deal. 60 of the 1,138 Percent deals in AltStreet's records describe merchant cash advance exposure, usually a senior or junior note on one originator's MCA portfolio; most have ended, and one was open in October 2026.
How do Supervest's no-fee notes compare with Percent after fees?＋
At the same advertised coupon, Supervest's stated no-fee note leaves more interest before credit losses: 15% against 13.5% after Percent's 10%-of-interest fee. Percent also publishes a return after losses and fees (13.7% for the year to March 31, 2026, ABS deals, platform-stated); Supervest publishes none.
Am I lending to the platform, a series, or an underlying financing company?＋
To a series on both. A Supervest note is issued by a Supervest Investments, LLC series that pools money into MCA participations Supervest selects; a Percent note is issued by a deal-specific series tied to one financing to one borrower, under that deal's stated terms. Neither gives you a direct claim on the merchants.
Which provides more current delinquency, default and recovery information?＋
Percent: deal-level credit data and a platform charge-off rate. Supervest's latest published delinquency figures are for March 31, 2024, on its two original notes. Neither publishes recovery rates.
Can I diversify across multiple originators?＋
On Percent you choose deals yourself, and many have $500 minimums. Supervest works with more than 20 funders; allocation and concentration within each note series were not available in the materials reviewed. Its $1 million self-directed product lets investors set criteria.
What happens if an investment misses its maturity date?＋
Supervest says a note's term may be extended at the manager's discretion 'by a significant amount of time', with no secondary market. On Percent, outcomes depend on the deal: an extended maturity is a change of terms, not by itself a default, while a deal that stops paying moves into workout or restructuring. Only deals Percent marks eligible can be offered on its secondary market, and a buyer is not guaranteed.
What are the minimums?＋
Supervest: $25,000 per note (up to $5,000,000), $1,000,000 self-directed. Percent: many deals at $500; managed accounts from $1,000,000. Both accredited only.
Is either platform a registered broker-dealer?＋
Percent is: Percent Securities, LLC, FINRA member since August 2023, censured and fined $60,000 in June 2026 for late filings. Supervest says it 'is not registered as a broker-dealer'.
What tax forms will I receive?＋
Both report most note interest on Form 1099-INT, taxed as ordinary income. Some Percent fund and SMA structures issue a Schedule K-1. AltStreet is not a tax adviser.
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