From a serial list to a lender's term sheet
You send a serial list. We appraise the fleet, write the report, and take the request to lenders who understand the equipment. You sign once.
Five steps. You do three things. We do the rest.
Step 1
Tell us about the fleet
Serial list, invoices, where it sits, what it earns. Thirty minutes on a call or a spreadsheet by email.
YouStep 2
Appraisal report and indicative range
Every unit valued against the resale book. A residual curve for your model and age. An advance range and a rate range you can take to your board.
UsStep 3
Request goes to the lender network
The report, a borrowing base and a covenant set go to lenders who lend on this class. The closing docket opens in the data room.
UsStep 4
Pre-approval and lender review
A lender issues a term sheet. We walk you through it. You connect telemetry and sign.
You and usStep 5
Wire. Monitoring live.
Funds land. The lender sees the collateral from day one, and we stay on the loan for its life.
LenderThe lender sets the timeline to term sheet and funding. Ships take longer, because the lien registers in the flag state. Classes marked "in underwriting" take longer to pre-qualify.
Send the serial list
Model, serial, purchase date, invoice, location. A spreadsheet is fine.
Connect telemetry
GPUs: a DCGM or nvidia-smi exporter. Robots: controller log. Equipment: OEM telematics. Ships: AIS. Read only, over HTTPS.
Sign
The loan agreement, the security agreement, and the insurance certificate request. Once.
Appraise
Orderly liquidation value per unit. Residual curve per model. Resale comps from auction results, secondary compute markets and brokers.
Underwrite and document
Borrowing base, covenant set, and the closing docket: borrowing base certificate, compliance certificate, insurance certificate, serial schedule, lien search.
Place
The request goes to lenders who already lend on this class. We present it, answer their questions, and negotiate the term sheet with you.
Monitor for the life of the loan
Covenants checked from telemetry. Monthly report to you and the lender. A breach gets a notice and a cure period, not a surprise.
Nothing until a loan closes.
Pre-qualification
Free
The appraisal report and the indicative range are yours whether or not you borrow.
At close
If funded
An arrangement fee, stated in the term sheet and paid from proceeds at funding. Nothing if the loan does not close.
Monitoring
Per unit
A monthly fee per monitored unit, stated in the term sheet. It is what pays for the higher advance.
Interest and lender fees are set by the lender in the term sheet. Safewaterline does not take a share of interest.
What a breach actually means
Most equipment lenders find out about a problem at the annual audit. Lenders on Safewaterline monitoring find out from the telemetry, and the loan is written so that finding out early is to your advantage.
Notice
A covenant trips, for example utilisation stays under the floor, or a unit leaves the registered site. You and the lender get the same notice, the same day.
A cure period
Bring the metric back, move the unit back, or substitute collateral from the eligible list. A cure can be as simple as moving a unit back.
Borrowing base recompute
If it is not cured, the borrowing base is recomputed on the remaining eligible units. It is designed to end in a partial paydown, not a default.
Enforcement, last
Only after cure and recompute. If it comes to a sale, the resale desk runs it, so the recovery stays orderly and the deficiency as small as possible.
Who is the lender?
A lender that already lends on your class of equipment: specialty equipment lenders, private credit funds and bank asset based lending desks. The lender is named in the term sheet. Safewaterline does not lend its own capital.
Does the equipment stop working while it is pledged?
No. The lien is on the equipment, not on its use. It keeps earning. The only change is that it is monitored and that it stays at the registered site unless you tell us it is moving.
What if I already have venture debt?
Most venture debt carries a blanket lien. We work with your venture lender on a carve-out for the equipment, which is common. See For startups.
What do you see from the telemetry, and who else sees it?
Only what the covenants need: for GPUs, utilisation, location, firmware, temperature and last ping. You and your lender see it. Nobody else does, and it is never used in a published figure.
Can I pay it off early?
Prepayment terms are set by the lender in the term sheet.