Patient Equity — Scenario 1
Live financing waterfall · Equity Return Model
Source: Patient_Equity_Model_Demo_v4.xlsm
Engine ported 1:1 from MFW / AFW / ER Scenario 1

Annual net cash flow by tranche

Investment (draws), return, equity sweep and disposal surplus — years 1–15

Financing waterfall — Scenario 1 close-out

Amounts committed, drawn, and returned at disposal (month set by hold period)
Funding priority each month: Grant → Patient Equity → Private Equity → Development Loan → Investment Loan. Equity sweep (during the operational hold) and bullet repayment (at disposal) follow the same order. "Post PC" income and disposal proceeds are fixed inputs taken from the underlying appraisal — only the financing structure shown on the left is interactive here.