Private credit, kept by the book

AI-native underwriting
& credit intelligence
for direct lenders.

Lucia screens every applicant against your credit policy, drafts the memo with citations, tests every covenant the day financials land, and bills from a single loan book.

Loan file · Harrier LogisticsSep 2026

§ 1Each lender in its own tenant.
§ 2Your data never trains a model.
§ 3Logged from intake to payoff.

Read the security page

Loan Book · illustrative · 14 borrowers · September 2026 All borrowers and figures are synthetic

Loan book$15.7Moutstanding principal balance · of $21.4M committed

Portfolio yield14.4%−1.1 pts vs 15.5% contract · exposure-weighted

Credit quality88%performing · Watch $3.6M · past maturity $1.0M · default $0.9M

Principal at risk$0.9M6% of book · 2 borrowers scored below 40

Cash collected$2.14Mof $2.31M due to date · $170K missed

Coverage · debt / ARR0.31×$15.7M on $50.6M trailing ARR

Balance carried forward$15,700,000

Read this first · 30 seconds

The credit file should not live in inboxes and workbooks. Lucia reads the borrower's financials, your credit agreements, and your policy, so every memo cites its sources and every covenant is tested the day the numbers land.

01The status quo · what one facility costs to run today

Every loan pays a hidden servicing fee: your team's time.

Direct lenders run underwriting in one tool, the loan tape in a workbook, and billing by hand. None of them share a ledger, so the same numbers are typed three times.

$1,200/mo

Report-generation tooling, per lender, before anyone reads a covenant.

2–3 hrs

Per borrower, per month, rekeying management accounts into the tracker.

Automated steps between the revenue a borrower reports and the invoice you send.

$63,000+/yr

across reporting, monitoring, and billing tools that do not share a ledger, while the covenant math still lives in a workbook someone built in 2021.

02The platform · three desks, one book

Underwriting, monitoring, and servicing—kept on one ledger.

Three desks work the same loan file. A figure entered at intake is the figure the covenant test reads and the figure the statement bills.

Desk 01 · Credit Analysis

From intake to committee, in days.

Borrowers upload through Brain Link. Lucia reads the file against your credit policy, scores the borrower, and drafts a committee-ready memo—every figure cited to the page it came from.

Origination pipeline with stage aging and next actions
Policy screening against your written credit policy
Lucia Score for every applicant and every loan on the book
Credit memo drafted with citations to the borrower's documents
Committee-ready file: memo, financials, and open items

Credit Analysis in detail

Applicant file · illustrativeCommittee · Oct 9

Kestrel Commerce

B2B SaaS · Austin · requested $1.5M delayed-draw term loan

Lucia Score 71

Policy screening11 of 12 checks clear

OpenCustomer concentration 41% against a policy ceiling of 35%. Top account renews in Q1; mitigant requested.

Credit memo Draft · 14 citationsData room 27 documents read

Desk 02 · Portfolio Monitor

Every covenant tested on every reporting date.

Management accounts land, Lucia extracts them, and each covenant is retested with its headroom. Late deliverables start their cure clock automatically.

Loan Book by credit health, exposure, and maturity
Company financials: P&L, balance sheet, cash flow, and KPIs
Covenant tests with headroom, breach, and cure tracking
Borrowing base and availability, recomputed per period
Deliverables calendar with reminders and cure periods

Portfolio Monitor in detail

Covenant tests · Harrier LogisticsAug 2026 · 4 of 4 pass

Covenant	Threshold	Actual	Headroom	Result
Minimum ARR	≥ $4.0M	$4.6M	+15%	Pass
Gross churn, monthly	≤ 2.0%	1.85%	+8%	Pass
Minimum cash runway	≥ 3.0 mo	4.1 mo	+37%	Pass
Customer concentration	≤ 35%	31%	+11%	Pass

Next test Sep 30 · Q3 management accountsSource Aug 2026 accounts, p. 4

Desk 03 · Loan Servicing

Statements the day revenue is reported.

Revenue lands, Lucia computes the payment from the facility's rate, splits it into principal, interest, and revenue share, and posts the statement.

Billing statements generated per facility, per period
Reminder cadence on your terms: 10, 5, and 2 days before due
Payment history with principal, interest, and revenue share
Cap progress and payoff tracking per facility
Borrower Portal for uploads, statements, and payment

Loan Servicing in detail

Billing statement · October 2026Sent Sep 22

Harrier Logistics

Facility HL-02 · revenue-based · 6.5% of monthly revenue

Sent

Reported revenue · September: $612,400
Rate: 6.5%
Payment due · Oct 5: $39,806

$28,410Principal

$6,864Interest

$4,532Revenue share

Reminders Sep 25 · Sep 30 · Oct 3Cap progress $1.42M of $2.94M

03The loan book · credit health & yield matrix

Where every borrower falls on risk versus yield.

Each bubble is one borrower; size is outstanding principal, color is credit health. The crosshairs are your policy: a Lucia Score of 60 and a 14% target yield. Four quadrants, one question: is the book being paid for the risk it carries?

Credit Health & Yield Matrix

Every live borrower placed by Lucia Score against annualized yield · select a bubble for the full read

Quality yield

$6.8M

43% of book · 6 borrowers

Quality yield

Low risk · above target yield

6 borrowers · $6.8M · 43% of book

Priced for risk

High risk · above target yield

2 borrowers · $1.8M · 11% of book

Safe, below target

Low risk · below target yield

2 borrowers · $4.4M · 28% of book

Underpriced risk

High risk · below target yield

4 borrowers · $2.7M · 18% of book

Healthy · 60+Watch · 40–59At risk · below 40

Illustrative loan book · all borrowers synthetic

04Lucia AI · ask the book

Ask the book. Every answer cites the file.

Lucia reads what your team already keeps: management accounts, bank statements, credit agreements, the policy. Ask in plain language and check the source in one click.

Portfolio manager

Which borrowers are within 10% of a covenant threshold after the August financials?

Lucia

Two. Harrier Logistics: gross churn 1.85% against a 2.0% cap, 8% headroom[1]. Goshawk Robotics: 3.2 months of cash against a 3.0-month minimum, 7% headroom[2]. One deliverable is in cure elsewhere: Caracara Media's August accounts are 12 days overdue and the cure period runs to Oct 15[3].

[1]Harrier Logistics · Aug 2026 management accounts · p. 4
[2]Goshawk Robotics · Aug 2026 bank statements · 3 accounts
[3]Deliverables calendar · Q3 2026 · cure periods

Run a screening on Kestrel Commerce Draft the credit memo for Kestrel Commerce Who missed a payment this cycle? Show covenant headroom across the book

Ask about any borrower, covenant, or statement…

Drafts the memo.

From the data room to a committee-ready draft, with every figure footnoted to the page it came from.

Cites the file.

Every answer links to the document, page, and period. If Lucia cannot find a source, it says so instead of guessing.

Flags the change.

Covenant headroom, late deliverables, and missed payments surface the day they happen, not at quarter end.

For the credit team

Underwriters, portfolio managers, and the ops team—on the same file.

The underwriter drafts the memo. The portfolio manager tests every covenant. Ops sends statements on time. Nobody re-types a number.

Pipeline, screening, and committee packets
Covenant, borrowing-base, and deliverable tracking
Billing, reminders, and payment history
One audit trail across all three desks

See the three desks

For borrowers

A portal, not an inbox.

Borrowers upload through Brain Link once, see their statements and payment history, and pay from the statement. Fewer emails on both sides; faster draws.

Financials and deliverables via Brain Link
Statements, payment history, and cap progress
Pay from the statement; receipts post to the ledger
Reminders on your cadence, not theirs

See the Borrower Portal

05The billing run · October 2026 · illustrative

The billing run, already reconciled.

Each statement is computed from reported revenue and the facility's rate, checked against the cap, and sent—reminders already scheduled. Exceptions are the only thing left to read.

Borrower	Facility	Reported revenue	Rate	Payment due	Due date	Status
Harrier Logistics	HL-02	$612,400	6.5%	$39,806	Oct 5	Sent
Steller Data	SD-01	$1,240,000	4.5%	$55,800	Oct 5	Sent
Redtail Commerce	RC-01	$388,900	7.0%	$27,223	Oct 5	Sent
Osprey Freight2 of 3 recent periods short-paid	OF-01	$142,300	8.0%	$11,384	Oct 5	Reminder 2 queued
Caracara MediaAugust accounts 12 days overdue	CM-01	—	8.5%	—	Oct 5	Cure by Oct 15
5 of 14 statements shown · 4 payments computed				$134,213

06How it works · intake to payoff

Three steps, one record.

Step 1

Intake.

Borrowers upload through Brain Link. Lucia extracts financials, contracts, and KPIs into one file, and tells you what is missing.

Step 2

Underwrite.

Screen against your credit policy, score the borrower, draft the memo with citations. Committee reviews and approves in the same file.

Step 3

Monitor & service.

Covenants, deliverables, billing, and collections run on one ledger. You review the exceptions; Lucia keeps the record.

Bring the files you already keep

Loan tapes · XLSX, CSV
Management accounts · PDF, XLSX
Bank statements · PDF
Credit agreements · PDF
Cap tables · XLSX
Data-room exports · ZIP, PDF

Portal access

One loan book. Everyone reads the same page.

Credit analysts, portfolio managers, and borrowers sign in to the same record—the memo, the covenant test, and the statement all cite it.

Borrowers · your portal is at sign in

AI-native underwriting & credit intelligence for direct lenders.