--- title: "Supervest Review 2026: 10% to 15% Merchant Cash Advance Notes, $58M Sold, No Audited Statements" url: https://altstreet.investments/platforms/reviews/supervest kind: platform-review updated: 2026-10-22 description: "Supervest review 2026: 10% to 15% merchant cash advance notes with no investor fees, $58.1M sold per Form D, no audited statements, Form Ds filed late, an $8.6M management fee estimate on the self-directed product, and a pending suit." publisher: AltStreet (https://altstreet.investments) license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted. --- # Supervest Review 2026: 10% to 15% Merchant Cash Advance Notes, $58M Sold, No Audited Statements Supervest sells accredited investors fixed-rate promissory notes, 10% to 15% for one to three years with a $25,000 minimum and no investor fees, whose proceeds buy participations in merchant cash advances from about 20 funders. Its Form Ds report $58.1 million of notes sold and $56.6 million in a separate self-directed product, whose Form D reports an estimated $8.6 million management-fee allocation to the issuer. No note issuer has public audited statements, several series filed their first Form D more than a year after their first sale, and a merchant's civil RICO suit naming the parent and its adviser is dismissed on pleading grounds with a motion to reopen pending. AltStreet score: 32.3 (D+), scored October 22, 2026. Method: https://altstreet.investments/platforms | Field | Value | | --- | --- | | Platform | Supervest | | What it is | Direct-Issuer Merchant Cash Advance Note Platform (Rule 506(c), Accredited Investors, No Broker-Dealer) | | Asset class | Fixed-rate promissory notes of series LLCs that buy participations in merchant cash advances; self-directed participations in individual advances | | Website | supervest.com | | Review first published | October 22, 2026 | | Last updated | October 22, 2026 | | AltStreet relationship | None: no affiliate, sponsorship or partnership | ## The short version Supervest, a New York company founded in 2018, raises money from accredited investors and lends it, through participations, into merchant cash advances: lump sums that about 20 partner funders advance to small businesses against a share of their future sales. Its main product is a set of fixed-rate promissory notes issued by series of Supervest Investments, LLC. The investor dashboard lists five: 10% for 12 months paid monthly (Series B), 12% for 24 months paid quarterly (Series A), 12% for 18 months paid monthly (Series C, first sold October 2026 and not listed in the public site's investments directory), 14% for 24 months paid at maturity (Series E) and 15% for 36 months paid quarterly (Series D), all with a $25,000 minimum, no investor fees and 1099-INT reporting. The investor's return is the fixed coupon, so Supervest's income is the spread between what the advances earn and what it pays, and that spread is not disclosed. A second product, Supervest MCA LLC, lets investors with $1 million choose advances themselves; its Form D lists $8,641,437 of gross proceeds as 'a management fee payable to the Issuer', about 15% of the $56.6 million it reports sold. Form Ds for the ten Supervest issuers report $117.8 million across 882 investor participations, far below the homepage's '$2B' of merchant deals, a figure that appears to count whole advances Supervest participated in. Supervest's own record is good on its face: a May 2024 update reported every coupon paid, a 30-day delinquency rate of 2.08% and 3.91% on the two original notes, and the FAQ says it has never missed a payment. None of it is audited: no note issuer has public financial statements, and the adviser's 2023 Form ADV answered no to an annual audit. The compliance record has gaps: Series B, D and E and the three Supervest Financing series filed their first Form D 15 to 29 months after their first sale, and the site still calls its adviser an exempt reporting adviser although that status was withdrawn in April 2024. A merchant's civil RICO suit naming Supervest, Inc. and SV Capital Management was dismissed on pleading grounds in July 2026; a motion to reopen was filed October 19, 2026. - **$58.1M** Notes sold to 515 investor participations across Supervest Investments, LLC Series A to E and Supervest Financing, LLC's three series, per their latest Form Ds (2025 and 2026). Series D, the 15% three-year note, accounts for $25.8 million from 208. - **$8.6M** Proceeds the self-directed vehicle's Form D lists as 'a management fee payable to the Issuer' (estimate, July 17, 2026), about 15% of $56.6 million sold. The figure rose $2.5 million from the October 2025 filing while reported sales rose $681,000. - **No audit** No note issuer has public financial statements. SV Capital Management's 2023 Form ADV answered no to an annual audit of Supervest Investments, LLC; the parent's last public statements (2021) were unaudited. - **2.08% / 3.91%** Running 30-day delinquency rates Supervest published for Mid-Term Note I and Short-Term Note I at March 31, 2024, when the two notes held $7.7 million and $1.3 million. Platform-stated, unaudited, and two and a half years old; nothing comparable has been published for the larger 2024 to 2026 series. - **15 to 29 months** How long after their first sale Series B, D and E and the three Supervest Financing series filed their first Form D, against the 15 days Rule 503 asks for. A late notice does not by itself cost the exemption; it is a compliance-record item. - **Pending** MT Products v. Alternative Capital Group (M.D. Fla. 8:25-cv-02510), a merchant's civil RICO suit naming Supervest, Inc. and SV Capital Management: dismissed under Rule 8 on July 28, 2026; motion to reopen filed October 19, 2026. Allegations contested; no ruling on the merits. Data note: Sales and investor counts from the latest Form D or D/A of each issuer (October 2025 to October 2026). Note terms, volume claims and the payment record are platform-stated, read October 22, 2026. Delinquency rates and note AUM from Supervest's May 7, 2024 blog update. ## Key figures | Figure | What it is | Context | | --- | --- | --- | | $8.6M | The self-directed product's fee is not published on the site; its Form D estimate is large relative to the money raised. | Proceeds the self-directed vehicle's Form D lists as a management fee to the issuer. About 15% of $56.6 million sold; up $2.5 million since October 2025 while sales rose $681,000. | | No audit | Audited financial statements public for any Supervest note issuer. | The adviser's 2023 Form ADV reported no annual audit; the parent's 2021 statements were unaudited. | | $58.1M | Notes sold across eight series, to 515 investor participations. | Per the latest Form D of each series; Series D accounts for $25.8 million. | | 2.08% / 3.91% | Running 30-day delinquency on the two original notes at March 31, 2024. | Platform-stated and unaudited; no later figures published. | | Pending | Merchant's civil RICO suit naming Supervest, Inc. and SV Capital Management. | Dismissed on pleading grounds July 28, 2026; motion to reopen filed October 19, 2026; no merits ruling. | ## Verdict Supervest offers accredited investors simple-looking fixed income: 10% to 15% notes with no fees, backed by participations in merchant cash advances, and by its own account it has never missed a payment. What supports the coupon is not public: the spread Supervest keeps, any capital behind the notes, collateral and ranking are undisclosed, no financial statements are published, portfolio data stops at March 2024, several Form Ds were filed more than a year late, and the manager can extend a note's term. The self-directed product's Form D reports an estimated management-fee allocation equal to about 15% of the money raised. Until the offering documents answer how the notes are secured and what stands ahead of them, evaluate the coupon as credit exposure to a Supervest series, not as a share of a diversified loan book. **Best for** - Accredited investors who want fixed coupons, can lock up $25,000 for longer than the stated term, and accept sponsor risk without audited statements. **Look elsewhere if** - You need audited reporting. - You may need the money on the stated maturity date. - You want to see the spread you are giving up. **Strengths** - Fixed 10% to 15% coupons with no investor fees and a clean payment record by Supervest's account. - Short underlying advances diversified across about 20 funders, with a 5% single-business cap on the self-directed product. - A published Q1 2024 update with delinquency rates, more than many note sponsors publish. - No sales commissions on any filing. **Limitations** - No audited statements for any note issuer; spread, credit support and ranking undisclosed. - An estimated $8.6 million management-fee allocation reported in the self-directed product's Form D, with no fee schedule published. - Six series filed their first Form D 15 to 29 months after their first sale; the site still claims a withdrawn adviser status. - Note terms extendable at the manager's discretion; no liquidity. - A pending, untested civil RICO suit by a merchant naming the parent and adviser. ## Who it fits | Investor | Fit | Why | | --- | --- | --- | | Accredited investors seeking fixed income who can lock up $25,000 or more | neutral | | | Investors who need audited reporting | poor-fit | | | Investors who may need the money before maturity | poor-fit | | | Accredited investors with $1 million who want to pick advances | neutral | | ## Questions **Is Supervest legit?** Supervest is a real company that files Form D notices for its offerings, verifies accredited investors through a third party, and says it has paid every coupon on time. AltStreet found no regulator action. It also found no audited financial statements for any note issuer, several Form Ds filed more than a year after the first sale, a site statement about its adviser's status that is out of date, and a pending civil suit by a merchant naming the parent and its adviser, dismissed on pleading grounds with a motion to reopen pending. **How does Supervest make money if the notes have no fees?** From the spread. The notes pay a fixed 10% to 15%; the merchant cash advances they fund are priced to earn more. Supervest keeps the difference; the spread and how losses are allocated are not publicly disclosed. On the self-directed product, its Form D reports an estimated $8.6 million management-fee allocation to the issuer. **Are Supervest notes safe?** Public materials do not say whether the notes are secured or what credit support stands behind them. The notes fund small-business merchant cash advances through a Supervest series, and the security, ranking and loss terms are in confidential offering documents. No financial statements of the issuers are public, and the manager may extend a note's term. **Can I withdraw early from a Supervest note?** No. The FAQ says note funds 'are inaccessible until the maturity date of the note', there is no secondary market, and the note pages say the term may be extended at the manager's discretion. **What is the minimum investment on Supervest?** $25,000 for the notes, and $1,000,000 for the self-directed MCA product. Both are open only to verified accredited investors, including through IRAs and trusts. ## Evidence appendix Platform website captured October 22, 2026. 53-page scrape of supervest.com and direct reads of its terms and two blog posts; every Form D of ten Supervest issuers; the parent's Form C, C/A, C-U and C-AR; SV Capital Management's 2023 Form ADV and IAPD status; legal scan of EDGAR, IAPD, CourtListener and the web. **Highlights** - Note page footnote: '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.' - How it works: 'No fees are charged to our SV Note Offering investors and interest is fixed over the life of the investment.' - Form D, Supervest MCA LLC: $8,641,437 'Represents a management fee payable to the Issuer'. - Form C-AR: 'Certain members owning 32.5% of the Company are also owners and founders of Debt Pay Gateway Inc.' **Primary source pages** - Note pages (Short-Term Note I, Mid-Term Notes I, E and D): coupons, terms, $25,000 minimum, the extension footnote. - Investor dashboard, Offerings page and the five note pages (October 22, 2026): series labels, $25,000 to $5,000,000 subscription range, payment calculators, the dates of each series' current offering documents, and the footer disclosures. - How it works and FAQ: 'No fees are charged to our SV Note Offering investors', '$2B', 'over 20 current, participating funders', the payment record. - Blog, May 7, 2024: Q1 2024 delinquency rates, realized returns and note AUM. - Supervest MCA LLC Form D/A (July 17, 2026) and the Form Ds of the eight note series. - Supervest, Inc. Form C-AR (May 9, 2022): unaudited 2021 statements and the Debt Pay Gateway disclosure. - SV Capital Management Form ADV (July 11, 2023) and IAPD status. ## Related - Full review (HTML): https://altstreet.investments/platforms/reviews/supervest - Every platform review: https://altstreet.investments/platforms/reviews - Methodology and scoring: https://altstreet.investments/platforms - Category hub: https://altstreet.investments/categories/private-credit-rbf --- Source page: https://altstreet.investments/platforms/reviews/supervest Machine index: https://altstreet.investments/llms.txt AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.