Implementation Checklist

Here's what you'll review with the Finley Capital Markets and Customer Success team in order to streamline your software onboarding and implementation with Finley.

Transaction Structure, Workflow, and Timeline

What is the anticipated transaction timeline?

  1. What is the anticipated timeline for close of the credit facility?
  2. What is the anticipated size of the first draw and timeline (if separate from closing) for the initial advance?
  3. Are there any special considerations relating to the initial advance, e.g., is this being used to refinance another credit facility?
  4. Are there specific events / contingencies that drive the foregoing timelines?

What are your workflow preferences?

  1. Who are the borrower and capital provider points of contact?
  2. Who is Finley’s primary contact on the borrower end?
  3. Are there separate points of contact for capital markets vs. data engineering?
  4. Who needs to sign-off and/or be copied on submissions of funding requests, reports, etc.?
  5. Who requires Finley log-ins and what are their email addresses?
  6. On the capital provider end, who should receive / be copied on funding requests, reports, etc.?
  7. What are the preferred modes of communication (e.g., Slack for everyday communication, email for reports, Slack / email notifications, etc.)?
  8. Do you have a preferred funding request frequency? (e.g., weekly vs. monthly)
  9. Are there any Finley features you'd like to be updated on, from a product development and rollout perspective?
  10. Are there other financial planning and treasury management considerations to take into account?

Have you mapped out how cash will flow through the different parties? 

  1. How are assets (e.g., receivables) created, sold / transferred to the SPV and funded?
  2. How are collections made? Which bank accounts do draws, collections, and repayments etc., go into?

Credit Facility Mechanics

Are your credit facility terms and documents ready for digitization?

  1. Do you have an executed term sheet?
  2. Is your credit facility documentation (credit agreement, fee letter, servicing agreement, etc.) in draft or execution form?
  3. Do you have Word versions of the credit agreement exhibits required for submissions, e.g., the forms of funding notice, compliance certificate, etc.?

Data and Infrastructure

Do we have an understanding of your data / infrastructure to determine Finley onboarding and integration sequence?

  1. Is your loan management system built internally or sourced from an external vendor? If sourced externally, who is your provider?
  2. Who is your host server for loan-level and repayment data (AWS, GCP, Microsoft Azure, etc.)?
  3. What is the current refresh cadence for loan-level data? (i.e., daily, weekly, monthly)
  4. Please share information on any other relevant systems / architecture / third-party vendors / issuers / processors / bank partners that are featured in your capital markets, credit risk, and servicing operations today

Is your data tape / loan tape ready for automated transfer?

  1. Do you have a final data / loan tape format that is not subject to further updates for ongoing capital provider requirements?
  2. Does the data / loan tape format cover all the fields required to map to the credit facility eligibility criteria and concentration limits?
  3. Does the data / loan tape / repayment data cover all the fields required to report on performance triggers and portfolio covenants (i.e., delinquency, prepayment, chargeoff, excess spread)?
  4. Have you prepared a data dictionary that provides context on the data tape / loan tape columns?