Pre-qualified equipment deals, with the collateral on screen
We appraise the fleet serial by serial, write the borrowing base and the covenants, complete the docket, and connect the telemetry before the request reaches you. You underwrite a package, not a phone call.
The package is the same every time. Only the serials change.
Appraisal report
Serial level
Orderly liquidation value per unit from the resale book. A residual curve for the model and age. Comps from auction results, secondary compute markets and brokers.
Borrowing base
Eligible units, advance, availability
Eligible units and their orderly liquidation value. Your credit box sets the advance.
Covenant set
Measured from telemetry
Utilisation floor, registered site, insurance in force, firmware current. A cure period. Revaluation every quarter.
Docket
Complete in the data room
Borrowing base certificate, compliance certificate, ACORD 25, serial schedule, lien search. One room, versioned. Data room logins are coming.
Monitoring
Live from day one
Utilisation, location, firmware, temperature, power, ECC errors and last ping per GPU, monthly. Robots, equipment and ships on their own feeds. You see the collateral you lent against, not an annual audit. See the monitor demo.
After close
Monthly report, resale on enforcement
A monthly monitoring report to you and the borrower. If a loan reaches enforcement after cure and recompute, the resale desk runs the sale. Residual value cover on the book is available with partners, on request.
What the report covers, section by section.
This is the outline of the report that arrives with every request. A sample is available to lenders joining the network.
Request a sample reportSample outline
01Summary: fleet and orderly liquidation value
02Serial schedule: model, serial, purchase date, invoice, site
03Valuation per unit: OLV, forced liquidation value, method
04Residual curve for the model and age
05Comps: auction results, secondary markets, broker quotes
06Condition: warranty, firmware, service history, telemetry baseline
07Eligibility: units in and out of the borrowing base, and why
08Proposed covenants and monitoring plan
09Lien search and title
10Resale channels if enforcement is needed
The loan register and the quarterly, at market level.
Who lent what against which class, from public filings. Residual estimates and risk profiles per class. Built for lenders first.
Safewaterline IntelligenceThe data wall
Published figures are aggregated, delayed one quarter, never attributable to a borrower or a lender's book; credit desk data is held separately.
What you send us stays on the credit desk
Your credit box, your term sheets and your deal telemetry are never used in a published figure. Methodology.
Who else is in the network?
The network is being formed. We do not name lenders on this site, and we will not name you without written consent. Deals go to the lenders whose credit box fits, not to everyone.
Who holds the lien?
You do. Safewaterline is not a lender and does not hold security. The loan agreement, the security agreement and the UCC filing, or the flag state mortgage for a ship, are in your name.
What happens when a covenant trips?
You and the borrower get the same notice the same day. A cure period follows. If it is not cured, the borrowing base is recomputed on the remaining eligible units, which is designed to end in a partial paydown. Enforcement is last, and the resale desk runs the sale.
Can we see the telemetry ourselves?
Yes. Monitoring is live for you from the day of funding, read only, and the monthly report is a summary of it. The data is yours and the borrower's. It is not sold, and it is not aggregated into Intelligence.