This partnership will support the launch of Bonside’s forthcoming proprietary underwriting tool

NEW YORK, May 18, 2025 — Bonside, a technology firm offering financial underwriting and funding for physical retail businesses, has announced a strategic alliance with Kimco Realty, a leading real estate investment trust, and Nuveen Real Estate, a global investment management company. As part of this collaboration, both Kimco Realty and Nuveen Real Estate have made equity investments in Bonside. They will also be among the initial users of Bonside’s new underwriting product, the Bonside Scorecard. This tool is designed to assist commercial landlords in more effectively evaluating the creditworthiness and risk profiles of both new and existing retail tenants who may not have traditional credit histories.

The Bonside Scorecard aims to standardize the way commercial landlords assess the financial and operational stability of their retail tenants. It leverages the same underwriting process that drives Bonside’s investment decisions, informed by 37 past transactions. The tool enables landlords to quickly assess tenant performance using data from accounting software.

At its core, Bonside focuses on analyzing, standardizing, and capitalizing on the growth of non-credit retail businesses. By prioritizing the fundamentals of physical retail, Bonside provides specialized services to the sector. It considers metrics such as 4-wall EBITDA, COGS, labor ratios, and over 20 other industry-specific indicators to deliver targeted underwriting and an investment-grade approach to the brick-and-mortar economy. This means landlords can streamline and standardize their tenant due diligence process and gain comprehensive risk assessments at both the property and portfolio levels. For tenants, it reduces complexity and inconsistency, allowing emerging businesses to compete for desirable locations and secure leases more easily.

This partnership represents a significant milestone for Bonside and reinforces its commitment to shaping and serving the brick-and-mortar economy. Since its launch in 2023, Bonside has funded 37 deals and manages $25 million in assets. Their flexible financing model, known as the Repeatable Revenue Agreement (RRA), allows businesses to grow without sacrificing equity or incurring debt, all facilitated by Bonside’s proprietary underwriting platform.

About Bonside
Bonside, headquartered in NYC, was publicly launched in June 2023 with the goal of providing underwriting intelligence and capital to brick-and-mortar businesses at scale.

Press Contact
Rachel Pietrangelo

Bonside

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