Free appraisal · No obligation · Equipment keeps working
Borrow against your GPUs, ships or robots without giving up equity or the equipment
Free pre-qualification: an appraisal report and an indicative range, sized from the GPUs, ships, robots or machines you already own. Then your request goes to a network of equipment lenders. The equipment keeps earning while it is pledged.
We read every GPU loan in the public record
201
facilities in the register
14
borrowers, from SEC filings
$147B
of disclosed facility size
Every row quote-checked against the filing. Market level only: your deal never becomes a published number. Open the register · as of 28 October 2026.
A new way to borrow against your equipment
Equipment finance is broken. Banks run every borrower through the same credit box, ignore the machines on the balance sheet, and push founders into equity rounds and fire sales they do not need.
The old way
Working capital that costs you equity
Step 1
Fixate on last year's P&L
the bank reads twelve months of statements and stops there
Step 2
Fill the credit box
same form for a bakery and a neocloud
Step 3
No asset appraisal
nobody prices the hardware you own
Step 4
Unnecessary equity round
a priced round to cover a six month gap
Step 5
Dilution and lost upside
the equipment keeps earning, you keep less of it
The new way
Working capital secured by what you own
Step 1
Consider your whole balance sheet
hardware, contracts and hulls count, not only cash flow
Step 2
Safewaterline appraisal
every unit checked: serials, hours, liens, resale prices
Step 3
See your indicative range
in writing, before any lender call
Step 4
Lien perfected, loan funded
UCC lien, ship mortgage or title, filed by the partner lender
Step 5
Capital in, equipment still working
a lien is a filing, not a repossession
How equipment gets valued today, and how we value it
A lender usually learns what your equipment is worth from a stack of PDFs, a spreadsheet of serials and a site visit, and the number is fixed on the day someone looked. We read the equipment itself and keep one record that stays current for the life of the loan.
Appraisal_FINAL_v3.pdf
Desktop appraisal, 42 pages
Values as of March. Utilization not reviewed.
serials_merged (2).xlsx
| r01-n03 | 1652…A31 | 21,340 h |
| r01-n04 | #REF! | ? |
| r02-n01 | see email | 19,880 h |
Re: Fwd: Re: colo lease + serials
Can you resend the colo lease? The version from May is missing page 4.
Site inspection
Inspector travels to the data hall
First open slot: in three weeks
Credit application, page 3 of 11
Three years of tax returns
Personal guarantee
- Value fixed on one day, from documents and a visit
- Utilization, hours and contracts guessed or left out
- Nobody looks again until the loan renews
512 H100 SXM, 64 nodes
Illustrative neocloud · Reno, NV
Read from telemetry, invoices and resale listings. Revalued every quarter.
- Value read from serials, hours, utilization and resale prices
- Contracts and liens checked against the source
- Revalued every quarter, so your line moves with the asset
The appraisal that prices your equipment, not your P&L
Every asset is different. We check each unit, from serials and hours to liens and resale prices, to show what your equipment can borrow today.
Asset class
Ownership
64 nodes, 512 GPUs
Utilization readout
Your H100 cluster falls in the top 18% for trailing 90 day utilization.
Your hours per node are in the 61st percentile for clusters of this size.
Lien search
- UCC filings, Delawareclear
- Vendor liensnone
- Invoices to serials512 / 512
A clean title chain is what lets a lender take first position.
Condition
The power contract and the site lease both run past the warranty, and the report lists every date.
Value split
- a Hardware0.71
- b Signed compute contracts0.22
- c Spares and warranty0.07
Per H100 GPU
0.64
Depreciation