Borrowing Base
Definition

Dilución

La reducción de los saldos de cuentas por cobrar mediante abonos, devoluciones, disputas y descuentos por volumen, en lugar de mediante pago en efectivo. La reserva por dilución es una deducción de la tasa de anticipo: si la dilución de los últimos 12 meses es del 8 %, los prestamistas pueden restar ese 8 % de la tasa de anticipo sobre las cuentas por cobrar.

Deep Dives

Borrowing Base Mechanics

Related Terms

Borrowing Base

The maximum loan amount a borrower may draw under a revolving credit facility, calculated as the sum of eligible collateral values multiplied by applicable advance rates. Distinct from a fixed loan: availability fluctuates as collateral values change; monthly BBC certification is standard.

Eligible Receivables

Receivables that satisfy contractual eligibility criteria and can be included in the borrowing base. Ineligible receivables (delinquent, government obligors, concentrated, cross-border) are excluded.

Advance Rate

The percentage of eligible collateral value that lenders will fund against; reflects the expected recovery rate in a stress liquidation scenario. Accounts receivable: 70–85%; inventory: 40–65%; equipment: 60–75%; real property: 50–65%.

Back to ABF Glossary