Payment-in-kind (PIK) is accrued but unpaid interest added to a loan’s principal balance instead of being paid in cash. PIK features, including True-PIK and PIK-Toggle (whereby a borrower can elect, from time to time, PIK amounts) are common in private credit and leveraged loans because they let borrowers preserve cash. Tracking PIK accruals, which frequently have different features from cash-pay loans, accurately requires loan servicing software that natively supports capitalizing interest. LoanStreet CLS natively supports PIK interest, including PIK margins, limits, caps and other PIK features, as part of its private credit loan servicing software.