How to choose an equity-backed financing provider for cross-border holdings
A practical checklist for holders of concentrated listed positions, including insiders and holders of large share blocks.
Last reviewed 2026-10-25
Education only. This is not financial, legal or tax advice, and it is not an offer. Terms vary by provider and case. Take independent advice before you sign anything.
The short answer
Choose a provider that accepts your specific stock and market, offers the recourse terms you need, issues clear indicative terms quickly, and documents dividends, voting and disclosure in plain language. For cross-border and concentrated holdings, specialist providers are often a better fit than a local broker margin line.
Provider types compared
| Specialist provider | Private bank | Broker | |
|---|---|---|---|
| Best fit | Large or concentrated listed positions | Diversified portfolios with an existing relationship | Active trading accounts |
| Cross-border | Usually multi-market | Depends on booking centre | Usually local market |
| Single-stock appetite | High | Limited | Limited |
| Guarantee | Can be non-recourse with no personal guarantee | Usually full recourse | Usually full recourse |
| Speed to indicative terms | Fast | Relationship-dependent | Instant for standard accounts |
Questions to ask every provider
- Who is the contracting entity, and where is it based?
- Do you accept my exact stock, exchange and holding size?
- Is the facility non-recourse? Is any personal or corporate guarantee required?
- What happens to dividends and voting rights during the term?
- What fees apply, and when are they paid?
- How long from indicative terms to funding?
- What disclosure might apply because of my role at the company?
Concentrated insider positions
Directors, founders and substantial shareholders often hold positions that local lenders will not accept at size. They may also have dealing windows and disclosure duties. Plan the timetable with your company secretary and legal adviser before signing, and choose a provider used to working within those constraints.
Share blocks over $10M
Large blocks raise questions about liquidity and market impact that small positions do not. Ask how the provider assesses trading volume against block size, and whether terms are set for the whole block or in tranches. Larger blocks are reviewed case by case; size alone neither guarantees nor rules out a facility.
Frequently asked questions
Check that the provider accepts your stock and market, confirm the recourse terms and any guarantee, compare indicative terms, and read how dividends, voting and disclosure are handled.
Often yes, subject to company dealing rules and disclosure duties. Plan timing with your legal adviser and company secretary.
There is no fixed maximum. Large blocks, including those over USD 10 million, are reviewed case by case based on the stock and its trading.
Squadron Capital works with listed holdings of USD 1 million or more.
Yes. Individuals, holding companies and family offices can all hold the shares, subject to standard onboarding checks.
Comparing providers?
Squadron Capital provides non-recourse, cross-border financing with no personal guarantee, for listed holdings of USD 1 million or more. A Fast Term Sheet gives you indicative terms to compare.
Get a Fast Term Sheet