Borrowing Base
The collateral value an asset-based lender will lend against: an advance rate on eligible receivables (typically 80% to 85% of those inside 90 days) plus an advance rate on inventory, capped at the facility’s commitment. Availability is the base less what is drawn. As receivables age or shrink the base falls, and a base below the drawn balance forces a repayment whatever the cash position.
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