Stop taking the borrower's word for the collateral
Today the certificate is arithmetic the borrower did on numbers the borrower chose. Connect their core once and it becomes arithmetic you do on their loans, every fifteen minutes, with the covenants tested as they move.
Recomputed from the borrower tape, not submitted by the borrower
The line drew down 81% in six months and the base kept pace
No single borrower reaches 1% of the collateral pool
Arrears held near 5.5% all year and broke below it in July
Two limits are outside, and both have a named owner and a clock
Working with
You lend to a company once, then watch it through a keyhole.
Underwriting a non-bank lender is a single look at solvency, followed by a credit limit that is supposed to expand in six months on evidence nobody is collecting.
Underwriting is one look, and then it is over
You assess the company at origination and then rely on whether the payment arrives. Whether the book behind it improved or rotted is not something the payment tells you.
You cannot see what the money did
The funds were drawn for a purpose. Whether they reached that purpose, what they originated and how those loans behaved is invisible unless the borrower volunteers it.
You find out late, and from the borrower
Concentration drift, related party exposure and covenant breaches surface at a quarterly certificate the borrower prepares, which is the one document least likely to carry bad news early.
What a warehouse line looks like today.
Every line here is something a credit team does by hand because the data to do it automatically has never been available in one place.
The certificate is written by the party being tested
A borrowing base certificate arrives as a spreadsheet the borrower assembled. You are checking their arithmetic on their numbers.
The covenant schedule lives in a document, not in a system
The floors and caps are in the facility agreement. Testing them means someone reading a PDF and typing into Excel, every quarter.
You are often not the first lender
Whether another line already sits against the same collateral, and on what terms, is something you find out by asking rather than by looking.
Applications arrive without a way to rank them
Every non-bank lender presents differently, so the pipeline cannot be sorted, and the ones that would have been good get lost with the ones that would not.
Custom reporting is a project every time
The one cut your risk committee actually wants is the one nobody has, and getting it means a request, a wait and a spreadsheet.
Effect turns a warehouse line into something you can watch continuously.
The borrower authorises a read-only feed from their own core, and everything you normally receive as a document becomes a number you recompute whenever you want it.
Working with
The certificate, recomputed
Eligible collateral after every deduction, the advance rate used and the headroom left, rebuilt from the borrower's own tape rather than submitted by them.
Every covenant, tested continuously
The floors and caps from the facility agreement turned into tests that run against the tape, with a breach drawn against its limit rather than reported beside it.
Underwriting that keeps going
The first decision uses the same data as every one after it, so a limit expansion at month six rests on six months of measured behaviour instead of a conversation.
Signals you set
Concentration drift, related party exposure, tenor breaches and feed gaps, on your own thresholds, delivered when they happen rather than when the borrower reports them.
Custom data, built for you
The cut your risk committee actually wants, as a report on the platform or a file on a schedule. If you need a shape we do not have, we build it.
A pipeline you can rank
Every lender on the platform is measured the same way, so applications arrive comparable, and you can see who else lent to them and on what terms before you commit.
Same columns, same tests, one sort. The declined one is declined on a measured breach rather than on a format you could not read.
Nothing is asked of your engineers.
Two things happen: you hand over the covenant schedule once, and the borrower authorises a feed. Everything else is ours.
Name a line you already carry
One borrower and the facility behind them. Nothing prepared, no data needed from you at this stage.
The borrower authorises a feed
A read-only connection to their core, which is why collection takes a day here and three weeks when it is a document request.
We encode your covenants
The floors, the caps and the eligibility rules from the facility agreement become tests that run every fifteen minutes.
The line is under watch
Certificate, tests, concentration and the exception queue, on the platform, over API or as a file on your schedule.
What changes for a bank.
The same facility, the same borrower, and a completely different amount of information about both.
You recompute rather than receive
The eligible base is your arithmetic on their records, which is the difference between a certificate and a claim.
Underwriting accelerates
The decision to expand a limit is made on measured behaviour that already exists, rather than on a fresh round of requests.
You see what the money did
What the drawn funds originated, in what sector, at what tenor and how those loans have behaved since.
You are not the last to know
A breach is raised on the day it happens, with the person accountable at the borrower and the date the cure period ends.
You are not the first to lend blind
You can see who else has lent to this borrower, against what and on what terms, before you commit rather than after.
Reporting arrives in your shape
On the platform, as a scheduled file or pulled into your own systems, in whatever cut your risk committee reads.
Every screen you would be working in.
These are the real screens, not a mockup of them. Counterparty and borrower names are demonstration data.
The certificate, recomputed
Eligible collateral, the borrowing base certificate and every covenant test rebuilt from the borrower tape rather than submitted by them.
- Every deduction drawn with the loans behind it
- Six covenant tests, floors and caps alike
- Updated between drawdowns, not at them
Everything a committee asks for. Nothing it did not.
The parts that do the work, described plainly. No model names, no dashboards you will never open, just the four things a lender and an investor both need.
Reconciliation, not retyping
The tape is read from the lending system and tied back to the lender’s own accounts. What does not agree is listed with the loans that caused it.
One record per loan
Every loan carries its own history from the day it was written, so a closed quarter cannot be tidied up afterwards.
rfc → withheld
name → withheldaggregated at portfolio level
Anonymised by default
Borrower identities never leave the lender. Reporting is built on anonymised, aggregated data, as Mexican data protection law requires.
Delivered where the investor works
A monthly reading over API or as a file, to the recipients the lender agreed to and to nobody else. Every delivery is logged and visible to both sides.
What changes once the line is watched.
The certificate stops being a claim
Eligible collateral is recomputed from the borrower tape, so the number you lend against is your arithmetic rather than theirs.
Limit reviews stop starting from zero
An expansion at month six rests on six months of measured behaviour that already exists, not on a new round of requests.
Breaches arrive with time left
A limit that goes outside is raised the day it happens, with the person accountable and the date the cure period ends.
You stop lending blind to prior claims
Who else lent to this borrower, against what and on what terms, before you commit rather than after.
What we read from your borrower.
Four sources from the borrower's own systems, reconciled into the certificate and the tests your facility already specifies.
Every loan with the date it was written, its terms, its status and its history, pulled from the lending system rather than from a summary.
We do not replace the audit.
An audit reads a closed period once a year, and by the audit date the file is in order.
No auditor has the infrastructure to open every application when there are hundreds of thousands of them. The eleven months in between belong to nobody.
Signs the year once it is over.
That signature is the one thing we cannot give you, and we are not trying to. It closes a period that has already happened.
Once a year, on closed quartersHolds the year up to the light while it runs.
Which is the only window in which anyone can still act on what it shows, and the reason an investor keeps lending.
Every day, up to yesterdayEvery figure, counterparty and borrower on this page is demonstration data created for illustration. It is not a real portfolio and not a real transaction.
Book a demo.
Bring one line you already carry and the facility behind it. We will show you the platform on that borrower and what you would have been able to see.
- ✓A live walk through on a real line
- ✓Custom reporting built to your committee's shape
- ✓Underwriting on request for companies in your pipeline