I agree to an extent about the longer terms/larger amounts satisfying a client for a longer period. However, I doubt that period is 12-24 months long. The majority of deals of any size and term have the client requesting a renewal before they are eligible. At least from what I've seen. The 18-24 month space is pretty new. I'd be interested in having this same conversation in a year or so. Stacking is rampant and accelerating. IMO, no primary funder is safe at any size and term.

Over time I believe that the guidelines on renewals are going to change. Addons before 50-60% paid down will become more prevalent as a way of protecting position and cash flow. The only other solution is to get rid of stacking.