CovenantIQ

CovenantIQ is a web app (with optional mobile alerts) that helps mid-market borrowers and lenders monitor loan covenant compliance in near real time. It connects to accounting systems and bank feeds, maps financial statements to covenant definitions (leverage ratio, FCCR, liquidity tests), and runs a rules engine that flags early-warning drift. The product produces an audit-friendly covenant package: calculations, source data links, variance explanations, and a timeline of changes. It also supports scenario testing (e.g., revenue down 10%, margin compression, delayed receivables) to show when a breach becomes likely, so finance teams can renegotiate proactively instead of getting surprised. This is a combination traditional + AI app: traditional for deterministic calculations and controls, AI for document ingestion (credit agreements), covenant extraction, and narrative variance summaries. Realistically, accuracy and trust matter more than fancy models; the app wins by being boring, reliable, and defensible.