CovenantIQ

CovenantIQ is a web app (with optional mobile alerts) for commercial banks and credit unions to monitor loan covenants continuously instead of quarterly scramble reviews. It connects to borrower financials (spreadsheet uploads, accounting systems, and bank statements where permitted) and calculates covenant ratios, reporting triggers, and borrowing base availability. The AI layer reads lender reporting packages, extracts key figures, flags inconsistencies, and drafts borrower outreach emails and internal credit memos. Relationship managers get a simple dashboard: which borrowers are trending toward breach, what data is missing, and what actions to take. Credit admins get an audit trail showing source documents, calculations, approvals, and exceptions. This is not a core banking replacement; it’s a focused layer that reduces surprises, improves portfolio hygiene, and shortens exam prep. Realistically, integrations and data quality are the hard part, so the MVP should start with uploads and a limited set of covenant templates.