Tax Credit Marketplace Focused Primarily On “Nailing The UI” Flounders Upon Being Asked About Basis Optimization (full details)

BOSTON, MA - 20 minutes into a sales meeting with a potential client, representatives from “Credithub.ai” the self-proclaimed “nation’s leading tax credit marketplace platform and trading hub” chose to self-immolate instead of admitting they didn’t understand a very basic tax equity question posed.

Derek Singleton, one of the individuals being pitched, sets the scene: “I asked Alexis if CreditHub had a basis optimization minority equity partner in the wings; someone we might team up with for some light ITC basis optimization. We don’t actually need one - have our own, actually - but Alexis and Tim were really fumbling their way through the pitch so I thought I’d give them a softball, just to be nice. What happened next was [stares at ground, shakes head in disbelief]… pretty intense.”

Other meeting attendees describe the Credithub team looking to each other with desperation in their eyes, and then Tim, CrediHub’s VP of Transactions, lurched into an incoherent attempt at an answer.

“Right, minority basis routinization….totally. Yeah BDO is who we’ve been using. You know…for that sort of thing. We have a solution, and will probably safe harbor the FMV after we finalize the economic sustenance calculations. And also, partnership flip.”

Singleton and his partners stared, mouth agape, unable to muster a verbal reply. Approximately 10 seconds of gut-wrenching silence later, Tim and Alexis simultaneously commenced the process of self-immolation by reaching into their bags, extracting cans of gasoline, and dousing themselves in highly flammable liquid.

“You know what’s really messed up though?” offered Singleton, as smoking husks of former sales people smoldered in the background, “We were going to hire them anyway. I mean….the website is gorgeous, and I read an article about them being backed by one of those venture capital firms. Also, I really like the word “fintech”. It makes me feel young. So we were going to go with them over any of the shops with actual tax equity expertise, no matter what. What can I say, I love pretty colors.”