Your team should not spend three days a month rebuilding a spreadsheet the lender will question anyway. Olycor turns raw receivables data into a signed certificate your bank can verify, line by line, back to the source.
Borrowing base certificate software automates the preparation of the compliance document a borrower submits to its lender each reporting period. It ingests receivables data, applies the credit agreement's eligibility tests and reserves, computes availability, and produces a signed, audit-ready certificate with every value traceable to source records.
A borrowing base certificate looks simple: a one page summary of collateral value and availability. What sits behind it is not simple. Someone has to pull aging detail from the ERP, reconcile it to the general ledger, apply every eligibility test in the credit agreement, cap concentrations, compute reserves, and get an officer comfortable enough to sign. In most finance teams that is a spreadsheet with 14 tabs and one person who understands it.
Software replaces the spreadsheet with a pipeline. Data comes in from wherever it lives, rules run as configured code, and the output is a certificate where any line can be opened up to show the invoices behind it. The number stops depending on who prepared it. If you want the background first, start with what a borrowing base is or the walkthrough on what goes into a certificate.
AI handles the interpretation. Deterministic rules handle the math. The line between the two is deliberate: nothing probabilistic ever touches a calculated number.
AR aging exports from NetSuite or SAP, a CSV from a subsidiary, a PDF statement, a spreadsheet a controller emails on the last business day. Olycor accepts all of it.
Fields are mapped, obligor names are matched across systems, dates and currencies are standardized, and anything ambiguous is flagged for a human decision.
Eligibility tests, concentration limits, reserves, and advance rates run as code configured to your credit agreement. Same inputs, same rules, same number, every time.
A reviewer approves, an officer signs, and the lender receives a standardized certificate where every value traces back to source records.
Most certificate errors are data errors, not rule errors. A due date column mapped as an invoice date misstates aging before any eligibility test runs. The same customer spelled "Acme Corp", "ACME Corporation", and "Acme (US)" across three subsidiaries understates concentration. Olycor's AI layer exists to catch exactly this class of problem.
ERP exports and direct connections are mapped to a canonical receivables model: invoice number, obligor, invoice date, due date, open amount, currency, dispute flags. CSVs with inconsistent headers are interpreted and mapped with confidence scores. PDFs and emailed statements are extracted into the same structure. Obligor names are matched into legal entity groups so concentration is measured against the real counterparty, not the spelling.
Anything the AI is not sure about becomes an exception for a person to resolve, and the resolution is remembered for next month. The AI interprets. It never computes a number on the certificate.
Every certificate is a walk from gross AR to availability. Here is a simplified example of the walk Olycor computes, where each deduction can be opened to the invoice level.
| Line | Amount |
|---|---|
| Gross accounts receivable | $38,400,000 |
| Less: invoices over 90 days past due | ($2,100,000) |
| Less: cross-aged obligors | ($740,000) |
| Less: foreign obligors outside permitted jurisdictions | ($1,050,000) |
| Less: disputed invoices and contra accounts | ($310,000) |
| Eligible receivables | $34,200,000 |
| Advance rate at 85 percent | $29,070,000 |
| Less: dilution and other reserves | ($1,270,000) |
| Borrowing base | $27,800,000 |
| Facility limit | $30,000,000 |
| Less: outstanding loans | ($21,500,000) |
| Availability | $6,300,000 |
The tests behind those deductions come straight from the credit agreement: eligibility tests on aging, jurisdiction, and disputes, customer concentration limits, cross-aging, and reserves driven by dilution. Thresholds vary by facility, so all of them are configured to the facility rules, not assumed.
When a lender asks why eligible receivables dropped $2.1 million this month, the answer should take one click, not a research project. In Olycor, the $2.1 million opens into the 46 invoices that aged past 90 days, each linked to the file and row it came from, the rule version that excluded it, and the timestamp of the run.
That trail serves three audiences. Your own reviewers approve a certificate they can actually inspect. Your auditors get lineage instead of a spreadsheet archaeology exercise. And your lender's field examiners reconcile the certificate to source in hours instead of days, which tends to show up later in how the relationship is priced and managed.
A certificate is only as strong as what a skeptical reviewer can check without your help. From Olycor output, a credit analyst or field examiner can independently confirm each of the following. None of this replaces lender review; it makes the review faster and less adversarial.
Each value on the certificate opens to the invoices behind it, and each invoice links to the file and row it arrived in.
Beginning AR plus sales, less collections, credits, and write-offs equals ending AR, reconciled against last period's certificate instead of plugged.
An ineligible invoice shows the test and the threshold, for example 94 days past invoice date against a 90 day cutoff, not just a category total.
A $1,270,000 dilution reserve opens to the credit memo history, the average ratio, and the factor applied to it.
Gross AR ties to the aging detail by invoice count and by amount, and any variance to the general ledger is itemized before signing.
The tests that ran are versioned, so an amendment shows up as a dated configuration change rather than a quiet spreadsheet edit.
The same handful of failures account for most misstated certificates. Each one below is a specific check in Olycor, caught at ingestion or before signing rather than during a field exam.
| Where it breaks | What it looks like | The consequence |
|---|---|---|
| Aging convention | The aging is built on invoice date while the credit agreement tests days past due | On net 60 terms every invoice reads 60 days younger, and receivables that belong in ineligibles stay in the base |
| Credit memo handling | $380,000 of credit memos sit in the aging as positive balances | Gross AR is overstated and the dilution history behind the reserve is understated at the same time |
| Obligor grouping | One customer billed as Acme Corp, ACME Corporation, and Acme (US) | A 14 percent concentration reads as three positions under a 10 percent cap, and the excess is never deducted |
| Roll-forward plugs | Ending AR is forced to tie with a $220,000 line called other | The certificate reconciles to nothing, and the field exam opens with a finding instead of a walkthrough |
| Unapplied cash | $150,000 of receipts sit in a suspense account while the invoices they pay keep aging | The aging overstates past due AR and the GL tie-out shows a variance nobody can explain quickly |
| Stale rules | The spreadsheet still tests 90 days past invoice after an amendment moved the facility to 60 days past due | Eligibility is computed against an agreement that no longer exists, which is how misstated certificates happen |
You keep control of your data and your submission. Run the calculation any day of the month to see availability before you need it, model what a large invoice or a slow collections week does to the number, and stop depending on the one analyst who knows the spreadsheet.
Olycor is borrower software, but the output is built to be verified. Certificates are standardized, signed, and traceable to source records, so a credit officer or field examiner can test any line independently instead of taking the summary on faith.
Or browse the full receivables finance glossary and the eligibility rule library.
Last updated July 9, 2026. Olycor does not provide legal, tax, accounting, or credit advice. Facility terms, eligibility criteria, and reserve mechanics vary by credit agreement; your agreement governs.
Olycor is onboarding borrowers who are done rebuilding the borrowing base in a spreadsheet every month.