Funding Requests Overview
Learn what funding requests are and how to create them
Overview
A funding request is how borrowers draw down funds from an active credit facility.After a master commitment is active and deal modelling is complete, borrowers cancreate funding requests specifying the amount, purpose, funding date, anduploading supporting documentation. Each request is reviewed by the facility agentbefore funds can be disbursed.
What Funding Requests Are
A funding request is a specific request to borrow a portion of your approved facilitylimit. You specify how much you need, when you need it, what the funds are for,and upload supporting documentation. Each funding request is reviewedindividually by the facility agent.
You can create multiple funding requests over time as long as you stay within yourfacility limits. Each request goes through its own review and approval process, andapproved requests trigger the automatic generation of funding notices.
Purpose and Use Cases
For Incremental Borrowing - Request specific amounts as needed rather thanborrowing the full facility limit at once.
For Purpose - Specific Drawdowns - Each request specifies the purpose of thefunds.
For Ongoing Capital Access - Create multiple funding requests over timethroughout the facility term.
For Controlled Disbursement - Each drawdown is reviewed individually beforefunds are disbursed.
Key Components
Draw Amount - The specific amount you want to borrow from your available capacity.
Funding Date - When you need the funds.
Purpose of Funds - Description of what the funds will be used for.
Draw Currency - The currency for the drawdown.
Collateral Addendum - Supporting documentation uploaded with the request.
How Funding Requests Work
1. Prerequisites
Before creating a funding request:
• Master commitment must be Active
• Facility Setup Status must be Completed (deal modelling done)
• You may need to map NFT-minted loans to the facility first
2. Creating the Request
Navigate to Credit Facility section and click Funding Request on your active mastercommitment. A popup opens where you enter:
• Draw amount
• Funding date
• Purpose of funds
• Draw currency
• Upload Collateral Addendum
Funding Request Creation - Issuer
3. Review and Submit
Click Review to create the funding request (status: DRAFT). Click Submit to send tothe facility agent for review (status:
FAReview).
Funding Request Submit - By Issuer
4. Facility Agent Review
The facility agent reviews the request and can:
• Approve : Funding notice is generated (Pending Token Generated)
• Reject : Status changes to REJECTED
• Request Changes : Status changes to CHANGES_REQUESTED
No e-sign is required for funding request approval.
Review Funding Request - FA Review
5. After Approval
When approved:
• Funding notice is automatically generated
• FA clicks Approve on funding notice
• FA e-signs for each lender (E-sign 0/n)
• Each lender can see the funding notice once their e-sign is complete
• Lenders review, transfer funds, and Confirm and Settle
• Funds are disbursed to borrower
Funding Request Statuses
Status | Meaning | Available Actions |
DRAFT | Created, not submitted | Edit, Submit |
FAReview | Submitted, awaiting FAdecision | View only |
APPROVED | Approved, funding notice generated | View |
REJECTED | Rejected (final) | Create new request |
CHANGES_REQUESTED | FA requested modifications | Edit, resubmit |
Important Points to Know
Active Facility Required - Funding requests can only be created for Active master commitments.
Active Facility Required - Funding requests can only be created for Active master commitments.
Deal Modelling Required -
Facility Setup Status must be Completed before you can create funding requests.
Map Loans First - You may
need to map NFT-minted loans to the facility before creating funding requests.
One at a Time - Submit one
funding request at a time and wait for the decision.
Rejected Is Final - Rejected
requests cannot be resubmitted; create a new request.
Auto-Generated Notices -
Approved requests automatically generate funding notices.
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