For credit teams on nCino, Abrigo and Loan IQCovenantFlow reads the loan agreement and every amendment after it. Then it tests each covenant against the borrower's financials, with the source clause attached. Your LOS keeps the loan. In nCino, the covenant table sits right on the Loan record.
45 minutes. We put one of your agreements through the platform while you watch.
SOC 2 Type II audit in progress · BAA available · US data residency by default
One covenant, start to finish
Most banks keep covenants in a spreadsheet someone typed up at closing. Then the amendments arrive and the spreadsheet stops matching the paper. Follow one covenant through and see where that gap closes.
Article VII · Financial Covenants
Section 7.1 Borrower name redacted.So long as any Obligation remains outstanding, (the “Borrower”) shall:
(a) Fixed Charge Coverage Ratio. Not permit the Fixed Charge Coverage Ratio, measured as of the last day of each fiscal quarter for the four consecutive fiscal quarters then ending, to be less than 1.25 to 1.00.
(b) Senior Leverage Ratio. Not permit the Senior Leverage Ratio to exceed 3.50 to 1.00, stepping down to 3.25 to 1.00 for fiscal quarters ending on or after .
(c)
Agreement PDF
Upload the credit agreement and its amendments, or let them arrive from the nCino document repo or a completed DocuSign envelope. The AI reads every page and finds the covenant clauses.
Article VII · Financial Covenants
Section 7.1 Borrower name redacted.So long as any Obligation remains outstanding, (the “Borrower”) shall:
(a) Fixed Charge Coverage Ratio. Not permit the Fixed Charge Coverage Ratio, measured as of the last day of each fiscal quarter for the four consecutive fiscal quarters then ending, to be less than 1.25 to 1.00.
(b) Senior Leverage Ratio. Not permit the Senior Leverage Ratio to exceed 3.50 to 1.00, stepping down to 3.25 to 1.00 for fiscal quarters ending on or after .
(c)
Structured covenant
Each covenant comes out with its threshold, testing period, defined terms and cure rights. It carries a confidence score and a link to the clause. Nothing goes live until your team confirms it.
Financial covenant · Source §7.1(a), p. 41
Live test
Financials come in through the borrower portal or a connected accounting system. Each test uses the definition in force for that period. When an amendment changes a definition, the math moves with it.
| EBITDA, reported | 4,820 |
|---|---|
| Add-backs allowed (cap 723) | + 720 |
| Unfinanced capex | (610) |
| Cash taxes | (380) |
| Fixed charges | 3,580 |
| Ratio | 4,550 / 3,580 = 1.27x |
Exam pack
Every result keeps its evidence. Pull it per loan when the exam letter lands, instead of rebuilding the binder from email.
Definition in force
EBITDA v2, effective with Amendment No. 2, signed Feb 14, 2026. v1 kept with its effective date.
Source clause
Credit Agreement §7.1(a), p. 41. Amendment No. 2 §3(b). Both linked to the page.
Calculation inputs
EBITDA 4,820, add-backs 720, capex 610, cash taxes 380, fixed charges 3,580. Result 1.27x. Q2 financials submitted through the portal Aug 12, 2026.
Waiver chain
Waiver Letter No. 1 covered the Q3 2024 FCCR miss, approved Nov 2024. Nothing open since.
Audit log
Every extraction, edit, confirmation and view, with who and when.
Generated from stored inputs. Run it again next year and you get the same answer.
Sample borrower, redacted. Figures are illustrative. Your own agreement goes through the same four steps on the demo.
Where it sits
nCino, Abrigo or Loan IQ stays the system of record for the facility and the borrower. We mirror the loan from it and never become the master record.
Confirmed covenants write back to the LOS as native records. In nCino they carry an idempotency key, so a resync can't duplicate them, and breach alerts arrive as Salesforce Tasks for the loan's RM.
They connect QuickBooks or Xero once, or upload. Requests and deadlines live in one place, so financials stop arriving as email attachments.
Before your vendor review asks
SOC 2 Type II
Audit in progress. The report goes to customers once issued.
Data residency
US by default (us-east-1). EU and Canadian regions available.
BAA and DPA
Already drafted, so legal review starts from a document.
Audit log
Append-only. Actor, timestamp and before/after diff on every event. Kept seven years.
Your PDFs
Streamed once for extraction. The AI provider doesn't keep them.
45 minutes on a call. We pull the covenants out of your agreement, confirm them with you and test them. If you run nCino, you'll see them write back to a sandbox tenant.
