Episode 387: Mastering Debt Decisions and Alternative Investments with Stas Sukhinin

From investment banker to crypto fund strategist, Stas Sukhinin shares insider perspectives on how credit committees really make decisions, why over-leveraged companies fail fast during downturns, and where stablecoins are creating trillion-dollar transaction opportunities.

In this episode of the DealQuest Podcast, host Corey Kupfer sits down with Stas Sukhinin, a finance veteran with over 19 years of experience spanning investment banking, corporate lending, and alternative asset management. Stas began his career at internationally recognized institutions including UniCredit and Societe General, where he helped pioneer mezzanine loan products in Eastern Europe. By age 29, he had become a senior partner at one of the region's largest mezzanine lenders, managing a team of 20 finance professionals and overseeing a $450 million loan portfolio.

WHAT YOU'LL LEARN:

In this episode, you'll discover what really happens inside credit committees when your loan application gets reviewed and why factors unrelated to your business can determine outcomes. Stas explains how strong companies can go from healthy to restructuring in just three to four months when leverage catches up with them, and the critical difference between how first-time owners and experienced operators approach debt decisions. You'll learn the two key factors that determine how much debt your business can handle, why working capital provisions in purchase agreements deserve more attention than most buyers give them, and how sellers legally present financials in the most favorable light. The conversation also covers Stas's experience investing in the 2017 ICO boom where 90% of projects went to zero but winners returned 50x to 100x, why venture capital investors sometimes block deals that would be life-changing for founders, and where stablecoin transaction volume is already reaching trillions while most people remain unaware.

STAS'S JOURNEY:

Stas's path into finance started at age 14 when a classmate brought a business magazine to school. Reading about business owners selling companies for millions crystallized his direction. He knew he wanted to be in corporate lending where he could see businesses, analyze financials, and speak directly with owners while working with numbers at a bank.

His first role as a junior credit analyst gave him exactly that. He progressed from working with small businesses that had no financials to mid-sized companies to large corporations. Each step taught him more about how deals really get done from inside the institutions making funding decisions.

CREDIT COMMITTEE INSIGHTS:

Stas pulls back the curtain on what actually happens when loan applications reach credit committees. The reality differs dramatically from what most business owners imagine. Factors affecting approval can seem completely unrelated to the specific deal. Maybe the bank already has a competitor in their portfolio. Maybe the receivable financing department has a different relationship with someone in your industry. One offhand comment from a committee member who hasn't read the full memo can change the entire trajectory of a conversation or result in higher interest rates.

DEBT MANAGEMENT LESSONS:

The pattern Stas has seen destroy companies in months follows predictable steps. Revenue drops or stagnates. Margins deteriorate because of increased competition and client uncertainty. Debt ratios that looked comfortable suddenly reach concerning levels. Refinancing options disappear just when needed most. Interest rates climb. Everything compounds simultaneously.

The difference between experienced and first-time business owners comes down to scenario planning. Experienced operators build safety margins and stress-test assumptions. First-time owners assume conditions will continue as they are. That assumption determines survival.

ALTERNATIVE INVESTMENTS:

Stas joined a crypto investment fund at its inception in 2017 during the ICO boom. Out of many investments, approximately 90% went to zero. The winners returned 50x or 100x. His observation about liquidity cycles was particularly interesting. Traditional venture now averages seven-year holding periods while crypto projects can reach liquidity events in three or four years through token distributions.

On stablecoins, Stas sees enormous opportunity in programmable money. Transaction volume is already in the trillions though most people in developed countries don't realize the scale. Goldman Sachs reportedly reduced bond settlement time from three days to minutes using blockchain technology.

Perfect for business owners considering debt financing, entrepreneurs navigating capital raising, and anyone interested in how credit decisions really get made and where alternative investments are creating new opportunities.

FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/stassukhinin

FOR MORE ON STAS SUKHININ: https://www.thesourcer.so https://www.linkedin.com/in/stassukhinin/

FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/

Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!

Episode Highlights with Timestamps:
[00:00] - Introduction: Stas Sukhinin's 19 years in finance from investment banking to crypto
[03:26] - First deal experience: Structuring a real estate development loan with disbursement tied to sales 
[05:47] - Hidden factors: Why deals get rejected for reasons unrelated to underwriting criteria
[08:20] - Committee dynamics: How one comment from an uninvolved member changes deal trajectories
[11:41] - Timing and instruments: When companies use the wrong type of capital
[15:55] - Risk assumptions: The difference between first-time and experienced business owners [18:29] - Volatility factors: How income stability determines appropriate leverage levels 
[21:09] - M&A implications: Structuring adjustment provisions for concentration risk 
[24:09] - Liquidity advantages: Why crypto offers shorter holding periods than traditional venture
[27:55] - Venture math: The story of a VC blocking a life-changing exit for 1x returns
[29:27] - Due diligence limitations: Legal ways sellers present favorable financials 
[32:14] - Stablecoins explained: Digital tokens designed to maintain dollar parity 
[36:31] - Programmable money: Smart contracts that execute automatically on conditions 
[38:00] - Financial advisory services: How Stas helps business owners understand their financials
[39:14] - Freedom defined: Removing gatekeepers and accessing financial systems without barriers

Guest Bio:
Stas Sukhinin has over 19 years of experience in finance spanning investment banking, corporate lending, and alternative asset management. He began his career at internationally recognized institutions including UniCredit and Societe General, where he helped pioneer mezzanine loan products and shaped the market in Eastern Europe. By age 29, Stas had become a senior partner at one of the region's largest mezzanine lenders, managing a team of 20 finance professionals and overseeing a $450 million loan portfolio. He later served on boards of several private companies, deepening his expertise across credit investments and corporate governance. Recognizing early opportunities in alternative assets, Stas joined a crypto investment fund at its inception in 2017 and continues to lead its strategy and operations. He now helps business owners run more efficiently from the lens of financials through his advisory practice.

Host Bio:
Corey Kupfer is an expert strategist, negotiator, and dealmaker with more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker deeply passionate about deal-driven growth. He is the creator and host of the DealQuest Podcast.

Show Description:
Do you want your business to grow faster? The DealQuest Podcast with Corey Kupfer reveals how successful entrepreneurs and business leaders use strategic deals to accelerate growth. From large mergers and acquisitions to capital raising, joint ventures, strategic alliances, real estate deals, and more, this show discusses the full spectrum of deal-driven growth strategies. Get the confidence to pursue deals that will help your company scale faster.

Related Episodes:
Episode 350 - Tom Dillon: When NOT to Take Venture Capital Money: Explore alternative funding sources including private credit, SBA loans, and sale-leasebacks with a fractional CFO who works with startups on capital strategy.

Episode 370 - Gerry Hays: Democratizing Venture Capital Through VentureStaking: Discover alternative approaches to early-stage investing that don't require massive checks or exclusive networks.

Episode 85 - Nick Adams: Seed Stage Venture Capital Funds: Understand how traditional VCs think about early-stage deals and what metrics they evaluate from the investor perspective.

Episode 351 - Solocast: Deal Structures Beyond M&A and Capital Raising: Learn about joint ventures, strategic alliances, licensing agreements, and other creative partnership models for business growth.

Episode 324 - Sejal Lakhani-Bhatt: Tech Due Diligence in M&A: Explore how technology systems and cybersecurity impact business valuation and deal outcomes.

Episode 330 - Pete Mohr: Preparing Your Business for Exit: Understand why sellers often cause deals to fail and how to prepare for the emotional aspects of selling a business.

Follow DealQuest Podcast:
LinkedIn: https://www.linkedin.com/in/coreykupfer/
Website: https://www.coreykupfer.com/

Follow Stas Sukhinin:
LinkedIn: https://www.linkedin.com/in/stassukhinin/
Website: https://www.thesourcer.so

Keywords/Tags: corporate lending insights, credit committee decisions, debt management for businesses, mezzanine lending, alternative asset management, crypto investment strategy, stablecoin business applications, EBITDA management, leverage risk, working capital due diligence, venture capital exits, ICO investing, blockchain finance, programmable money, business financing, capital structure, due diligence strategies, financial advisory, dealmaking, business growth strategies