Private credit lenders have found a new batch of clients: US government contractors shortchanged by Elon Musk’s cost-cutting drive and trying to stay afloat.
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“The government has been quite responsive to what our clients put in for reimbursement as long as they are not seeking a windfall from the terminations for convenience,” said Elizabeth Jochum, a partner at Blank Rome in Washington whose clients are government contractors.
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"U.S. Contractors Cut off by DOGE Given Lifeline by Private Credit," by Sujeet Indap and Joe Miller was published in Financial Times on July 8, 2025.
