Borrowing Base
Definition

Base d'emprunt (Borrowing Base)

Le montant maximum qu'un emprunteur peut tirer dans le cadre d'un crédit renouvelable, calculé comme la somme des valeurs de garanties éligibles multipliées par les taux d'avance applicables. Contrairement à un prêt à montant fixe, la disponibilité fluctue en fonction des variations de la valeur des garanties ; la certification mensuelle par certificat de base d'emprunt (BBC) est une pratique standard.

Deep Dives

Borrowing Base Mechanics

Related Terms

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%.

Borrowing Base Certificate (BBC)

A periodic certification (typically monthly) by the borrower confirming the composition and value of the collateral pool. The BBC is the primary operational control document; lenders may field audit the BBC quarterly.

Concentration Limit

A cap on the proportion of the borrowing base attributable to a single obligor, industry sector, or asset type. Prevents a single default from causing a disproportionate availability reduction; typically 10–25% per obligor.

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