One Standard. Thirty asset classes. Every collateral type in asset based finance, mapped.
A reference library for asset-based finance: data models, eligibility rules, borrowing-base grids, covenants, liability structures, and waterfalls, purpose-built per collateral type and held to one shared standard.
standards live
on one shared data model
under one standard
200,000+ formulas
A standard is only useful if it works for every tape that comes through the door.
Each pack is a complete onboarding kit for one asset class, purpose-built around the collateral, but built on one shared data model of 116 canonical fields that links every transaction to the same analytics, the same covenant logic, the same reporting layer.
116 canonical fields covering investment, borrower, and cash-flow entities. Every pack extends this one shared data model with asset-class-specific entities, never replaces it. Cross-transaction analytics work the same way across every tape.
Eligibility catalog, borrowing-base grid, covenants, liability structures, waterfalls, and reporting templates, each tuned to how that asset class actually behaves. Music royalties don't think like aircraft, and the spec reflects it.
Open formulas, no hidden logic, full audit trail from source field to final certificate. The same pack runs on the Cardo AI platform without translation: what you see in the spec is what runs in production.
Thirty asset classes.
One shared data model.
Every class shown below is shipped at v1.0 or later. Click any card to see what's inside that pack: twelve sections, the same architecture every pack follows.
What's inside one pack.
The same twelve sections in every pack: the data model, the analytics catalog, the eligibility rules, the borrowing base, the covenants, the liability structures, the loan-level tape, the operating data, the compliance read-out, the waterfalls, the borrower certificate, the term sheet. Pick any of the thirty.
Corporate Loans
Middle-market direct lending. Sponsor LBOs, growth capital, recaps. EBITDA, leverage, fixed charge coverage. Blackstone, Apollo, Ares, Blue Owl, KKR direct.
The canonical data model.
Every field a Corporate Loans facility produces, named, typed, defined, and assigned to its canonical entity. The one shared data model behind every other sheet: every analytic, every eligibility rule, every covenant, every waterfall, every certificate references these fields.
The analytics catalog.
Every metric a Corporate Loans portfolio reports, defined as a formula against the data model, with the target zone, the warning threshold, and the breach threshold. Six of 111 shown.
| Category | Metric | Formula | Target | Warning | Breach |
|---|---|---|---|---|---|
| Performance | Annualized Default Rate | # Defaulted / Avg Loans × 12 (default_flag = Y) | <2% | - | 2.5% |
| Performance | Cumulative Loss Rate | Σ loss_amount / Σ issue_amount | <2% | - | 2% |
| Performance | Lifetime Recovery Rate | Σ cumulative_recovery / Σ loss_amount (closed loans) | >60% | 50% | - |
| Performance | Watchlist Migration Rate | Loans → Special Mention+ / Total active | <5% | - | - |
| Performance | Special Mention or Worse % | Special Mention + Substandard + Doubtful + Loss / Total | <5% | - | 5% |
| Performance | Performance Status Distribution | Bal by performance_status enum | - | - | - |
The threshold defaults.
A separate sheet that holds the default thresholds for every analytic: the values used when a facility doesn't override. Industry-calibrated for Corporate Loans, version-controlled, and the single source of truth for the warning and breach columns in the analytics catalog.
The KPI dashboard scaffold.
A reference layout for the Corporate Loans portfolio dashboard: which analytics get top-line tiles, which get trend charts, which get distribution charts, which get geographic breakdowns. Maps directly to the Cardo AI platform UI.
The eligibility rules.
The criteria a Corporate Loans loan must meet to count toward the eligible portion of the pool. Each row is a machine-executable rule against the data model. Eight of 49 shown.
| Eligibility rule | Operator | Threshold / value |
|---|---|---|
| LTM EBITDA min | >= | 10000000 |
| LTM Adjusted EBITDA min | >= | 12000000 |
| Revenues min (LTM) | >= | 30000000 |
| LTM Total Leverage | <= | 6.5 |
| LTM Senior Leverage | <= | 5.5 |
| Interest Coverage | >= | 2 |
| Fixed Charge Coverage | >= | 1.1 |
| Debt Service Coverage Ratio | >= | 1.15 |
The borrowing-base grid.
The haircut grid for the Corporate Loans pool: how each tier of eligible collateral is buckets, what advance rate it gets, and how the buckets compose into the overall borrowing base. Eight of 103 rows shown.
| Category | Item | Advance / haircut |
|---|---|---|
| Total Eligible Commitments | 1 | — |
| Total Lev <=3.0x | 1 | — |
| Total Lev 3.0-4.5x | 0.95 | 3 |
| Total Lev 4.5-5.5x | 0.85 | 4.5 |
| Total Lev 5.5-6.5x | 0.65 | 5.5 |
| Total Lev >6.5x | 0.3 | 6.5 |
| Senior Lev <=2.5x | 1 | — |
| Senior Lev 2.5-3.5x | 0.97 | 2.5 |
The covenants grid.
The covenant package for Corporate Loans: financial, operational, and reporting covenants, each defined as a metric, an operator, a requirement, and a tier (trigger, breach, EOD). Six of 40 shown.
| Covenant | Metric / formula | Operator | Threshold |
|---|---|---|---|
| Weighted Avg LTM Total Leverage | <= | 5 | Trigger |
| Weighted Avg LTM Senior Leverage | <= | 4 | Trigger |
| Weighted Avg Interest Coverage | >= | 2.25 | Trigger |
| Weighted Avg Fixed Charge Coverage | >= | 1.2 | Trigger |
| Weighted Avg DSCR | >= | 1.2 | Trigger |
| Annualized Default Rate | <= | 0.025 | Trigger |
12 liability structures, working models.
Every common liability structure used to fund a Corporate Loans portfolio, as a working model. Pick the structure that matches your facility, fill in the assumptions, get the cash flow.
The loan-level tape.
The full loan-level tape, one row per Corporate Loans loan: plus the supporting sheets that record originations, account performance, delinquency roll rates, vintage curves, charge-offs and recoveries, fraud and disputes, modifications, hedging activity, and watchlist transfers.
The compliance read-out.
Once the loan tape is in place, the eligibility tests run automatically per loan, the borrowing base computes against the haircut grid, and the covenant tests resolve against their thresholds, each producing a single In Compliance / Out of Compliance result the LP can read.
8 waterfalls, fully modelled.
Working cash-flow models for the Corporate Loans structures. Set the assumptions in the Assumptions tab, paste the collateral cash flow into the Collections tab, and the senior interest, senior principal, mezz interest, mezz principal, reserves, cash trap, and equity distributions resolve through the cascade.
The borrower-facing documents.
The two documents the standard ships with: the Borrower Reporting Certificate (BRC) that the borrower signs each period with covenant tests pre-computed against the operating data, and the Term Sheet Template with the standardised clauses for Corporate Loans facilities. Both auto-fill from the data model.
The full spec is not public. Ask for it.
Every pack is delivered under the same access model: a working session with the standards team, a walk-through of the data model and waterfall logic.
Request the ABF standard.
Tell us which of the thirty asset classes you want to see in full. We provide the one shared data model with its 116 canonical fields, the asset-class extension with every entity and field defined, and a worked example against a representative pool: under a standard NDA.