Founders failing to socialize debt deals with boards killed six approved loans
Dimitri Gershenson · The missing capital for climate startups: more debt · Jul 29, 2026 · at 31:43
Dimitri Gershenson, CEO of climate lender Enduring Planet, details common pitfalls and rejections during late-stage debt execution.
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“We've also had circumstances where founders don't properly socialize the deal with their board, and so probably, like, half a dozen of deals in the last, I don't know, Year to year and a half. Failed. Even though we approved the deal, we signed a term sheet with the company, we got through underwriting, and then when the loan agreement came out, which was like the last possible step, somebody was like, oh, I finally told the board that we're doing this transaction, they denied it.”
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