In Episode 116 of the Canadian Private Lender's Podcast Ryan and Neal break down what it really takes to scale a private lending business from $10M to $25M in assets under management in just over two years.

They go beyond surface-level growth talk and dive into the realities of scaling: operational strain, investor confidence, underwriting discipline, capital flow challenges, and why saying no becomes more important than saying yes. From team expansion and MIC structuring to managing risk in a shifting market, this episode is packed with practical insight for anyone serious about building a sustainable private lending operation.

Plus, some strong opinions on chocolate bars, Dairy Queen blizzards, and secret menus along the way.

Show Notes:

00:00 - Chocolate bars & holiday chaos

06:46 - Dairy Queen blizzards & secret menu

09:13 - Scaling from $10M to $25M AUM

12:46 - Team growth & admin pressure

16:00 - Raising capital & launching a MIC

19:59 - Product mix & construction lending

22:53 - Underwriting discipline at scale

26:02 - Risk awareness & saying no

29:59 - Admin, outsourcing & buying back time

33:36 - Podcast as credibility & deal flow

36:19 - Advice by AUM stage

41:16 - Final takeaways & sustainable growth

Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup

Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino

Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca