About BORGES CAPITAL

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Borges Capital — Mission Statement

Borges Capital exists to preserve and grow investor capital through disciplined, first-position real estate lending. We are committed to conservative underwriting, transparent communication, and alignment of interests, providing accredited investors access to secured investment opportunities designed to prioritize principal protection, risk management, and long-term capital stewardship.

Our mission is to operate with integrity, patience, and precision partnering with experienced market participants while maintaining independent judgment and full accountability in every investment decision.

Founder & Managing Director

Stephen Borges

Executive Expertise & Investment Perspective

Stephen Borges is the Founder and Managing Director of Borges Capital, a private real estate lending firm focused on first-position, collateral-backed investments. He brings more than two decades of experience across real estate finance, private lending, underwriting, and capital structuring, with a career rooted in disciplined risk management and execution certainty.

Stephen founded Borges Capital to address a recurring gap he observed in the private credit market: the need for a lender that prioritizes capital preservation, conservative leverage, and transparent decision-making over volume or yield-driven strategies. Under his leadership, the firm maintains a collateral-first approach, emphasizing independent underwriting, conservative loan-to-value parameters, and alignment with experienced borrowers and accredited investors.

Throughout his career, Stephen has underwritten and structured a wide range of residential and commercial real estate loans, with a consistent focus on first-position security and downside protection. His approach is informed by hands-on experience across multiple market cycles, reinforcing a philosophy that values discipline, discretion, and long-term partnership.

Stephen leads Borges Capital with a commitment to integrity, clarity, and accountability principles that guide every investment decision and investor relationship.

Why I Founded Borges Capital

I founded Borges Capital to address a gap I observed over decades in real estate finance: many investors seeking income were being pushed toward speculative strategies that prioritized returns over risk discipline. Having worked through multiple market cycles as a lender, owner, and operator, I believed there was a better approach one centered on capital preservation, secured investing, and clearly defined downside protection.

Borges Capital was built to offer accredited investors access to asset-backed, first-position real estate loans, where investment structures are designed to emphasize collateral strength, conservative loan-to-value ratios, and predictable distributions. Our focus is not on chasing yield, but on deploying capital thoughtfully, managing risk deliberately, and maintaining alignment with investors who value long-term stability over short-term speculation.

Scott Gould

Senior Industry Advisor

Scott Gould is a seasoned professional in the Arizona private lending market with over three decades of experience across multiple real estate and credit cycles. Over the course of his career, he has been involved in the origination, underwriting, and servicing of more than 50,000 residential and commercial real estate loans, representing nearly $10 billion in aggregate lending volume. His background also includes extensive exposure to residential construction and development, providing practical insight into borrower execution and collateral risk. Mr. Gould contributes market perspective and advisory insight while Borges Capital retains full, independent investment discretion.

Scott Gould brings more than 30 years of experience in Arizona private lending, with involvement in over 50,000 real estate loans across multiple market cycles.

Investment Philosophy

Capital preservation first

At Borges Capital, capital preservation is the foundation of our investment philosophy. We prioritize the security of principal through disciplined underwriting and structured loan terms that emphasize downside protection to offer predictable distributions. Investment capital is deployed selectively, prioritizing opportunities that meet defined risk and return parameters. Deployment decisions consider market dynamics, property fundamentals, and projected cash flow expectations.

Risk-adjusted returns

We aim to generate returns that are aligned with the risks taken, striking a balance between income generation and prudent risk exposure. Our framework adjusts for market volatility, borrower quality, and collateral strength to maintain consistency with long-term investor objectives.

Long-term relationships

We believe strong investor and borrower relationships are essential to sustained success. Our commitment to transparency, communication, and operational consistency fosters partnerships grounded in trust and shared goals.

This website is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offering of interests in Borges Capital Fund, LLC will be made only through formal offering documents, including a Private Placement Memorandum and Subscription Agreement, and only to accredited investors pursuant to applicable exemptions under federal and state securities laws. All investments involve risk, including the possible loss of principal. Prospective investors should consult their own legal, tax, and financial advisors before making any investment decision.