The Client
- The client provides secured debt financing solutions up to £100m to UK and European mid-market businesses.
- Their product range across the capital structure includes term loans, structured debt, hybrid ABL + cash flow and bridging finance, on a senior, junior and mezzanine basis.
The Challenges
- The firm tracked each loan in separate excel files which was prone to human error and began to scale negatively.
- Excessive manpower required to produce borrower notices, track payments and (re)calculate balances.
- Monthly internal management reports took hours to create across several team members and were an exercise of cutting-and-pasting from disparate excel sheets.
- Borrowers regularly contacted the client for current account balances and upcoming payments.
Solution Delivered
- Granular loan dashboards hosted on Equipped’s cloud-based proprietary software, Minerva.
- Design, build and maintenance of cloud-based cash data warehouse, including KPI engine to update loan amortisation schedules based on payments received and/or changes to underlying interest rates.
- Secure 2-factor authentication access for borrower to upload monthly covenant documents and view outstanding balances, capital position and upcoming payment schedules.
- Full audit trail for changes made in the system.
Results & Benefits
- Centralised loan tracking dashboards that include underlying calculation engines, outstanding balances, payments due and received, fees and IRR calculations.
- Inbound borrower enquiries dramatically reduced as a result of automated email notifications and web portal utilisation.
- Data quality issues/inconsistencies addressed with real-time automated QA processes and notifications.
