Fund Request
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ABL / Fund Request

Fund Request

On the Fund Request Tab, the client can request an advance amount depending on BBC Availability. 

Table of Contents

Navigation: ABL → Fund Request 

Refer to the Screenshot

ABL → Fund Request page

Fields and Descriptions

Fields Descriptions
Select BBC Contains a list of approved BBC.  
Fund Requested Date Specifies BBC fund request date.  
Total Available for Advance

Specifies an total eligible BBC amount from the BBC Availability page.

Formula: Total Collateral - Total Reserve
Line Limit with Reserves Specifies the line limit amount with Reserves. 
O/S Loan Balance/Letter of Credit/Loan Reserves

Displays the sum of all the loans principle balance in collateral loans for the borrowers in selected Fund Requested Date.

Formula: (O/S Loan Balance + Letter of Credit) - Loan Reserves
Net Borrowing Base Availability

Specifies Net Borrowing Base Availability for the selected BBC.

Calculation: (Min of Total Availability and Net Commitment) - Loan Balance = Net Borrowing Base Availability. 
Funded Amount Specifies an amount funded for the requested BBC. 
Over Advance Amount Lender accepts to pay additional amount for the approved BBC collateral. 
Max Fund Limit Specifies an maximum amount limit for the requested BBC. 
Note Enter any specific instructions that you would like to lender to have, e.g., fund to our Bank of America account. 

 

Note

 Select the  Auto Sweeping  check box on the Funding Style page to disable  Fund Request  sub menu. In this case, lender follows auto funding process. 

Fund Request

To enter a Fund Request, perform these steps: 

1. Click Edit button button.  

2. In the  Fund Request Date  field, select the Fund request date.

3. In the  Fund Request Amount  field, select the Fund Request Amount. 

4. Click Save button button. 

The Lender will then be given the opportunity to fund the full amount requested or a lesser amount. The Fund Request is completed and a success message  "Fund Request done successfully"  appears.

 Success - Fun request done

Undo Fund Request

To undo the Fund Request, perform these steps: 

1. Go to Menu → ABL → Fund Request. 

2. Click Undo fund request button button. A pop-up message  "Are you sure you want to undo the fund request?"  appears.  

3. Click  OK . The Fund Request has been removed and a success message  "Fund Request removed successfully"  appears.

 Success - Undo Fun request