Glasstape verifies every loan you originate against its signed agreement and the bank account, tests each tape against the terms of your facility and builds the reports your funders ask for, so that you and your funders work from the same figures.
simulated facility, july 2026 tape
A facility usually runs on a borrowing base certificate built by hand every month, with a sample of loan files reviewed behind it. A loan the funder cannot check is held out of the base or priced as risk, and you cover it with your own equity.
Loans with missing documents or terms that differ from the tape are held out of the base until the evidence is in place. Glasstape checks each loan against its agreement and the bank, so every loan that meets the facility terms can count from the tape where it first appears.
Each agreement is checked when the loan is pledged, so a loan that matches enters the base on the tape where it first appears.
A missing document or a term that differs holds the loan out with the page cited, and the loan counts again on the next run once it is fixed.
Each tape, cohort and reconciliation is kept as it was received, so a funder can check any past figure against the file behind it.
Glasstape checks your tapes against four sources, so your funders get their answers without another request to your team.
The signed agreement of each loan pledged to a facility is compared with the loan's line in the tape.
Each loan is compared with its line in the earlier tapes, so a loan that disappears or is re-dated is recorded.
Eligibility criteria, concentration limits and covenants are configured as rules and tested on every tape.
[ bank account ]Each payment the tape reports for a loan pledged to the facility is matched against the credits of the trust's collections account.
AI agents read each loan's agreement, promissory note and amortization schedule and extract every term with the page it comes from, and a deterministic rule compares those terms with the tape. A loan that matches counts in the borrowing base, while a missing document or a different term holds it out until it is fixed.
Each loan is checked against its line in earlier tapes and each cohort against the others at the same age, so a weaker vintage shows early. Across the books it monitors, Glasstape holds more than 20 million loans and more than US$5 billion in assets.
Loans that leave the tape without a reported payoff or write-off are recorded as disappeared, and each tape lists the loans added, removed and changed in status or balance against the previous one.
A loan already past due whose maturity date is pushed back between two tapes is recorded as re-dated and counted with the restructured loans.
Each tape is mapped to the agreed columns and every loan is tested against the facility's terms, so the borrowing base and the covenants are measured the same way every month. Collections are matched to the bank whenever a statement arrives.
Every eligibility criterion becomes a rule labeled with its clause. A loan that fails stays pledged and in the reconciliation, and its balance leaves the borrowing base until it passes again.
Each payment reported for a pledged loan is matched to a credit in the trust's collections account. A payment without its credit opens an incident, and a credit that no payment explains is held until an analyst assigns it.
Each covenant is measured on every tape against its limit and warning level, with the headroom left. A breach opens an incident with its cure period and the consequence agreed in the facility, and it escalates if the period ends uncured.
Glasstape confirms the matches it can make and sends the rest to Glasstape's analysts, while the lender follows each incident and its evidence in the portal. A manual match is remembered for that payer, so the next statement matches on its own.
98.1%
of the collections reported for loans pledged to the facility were matched to credits in the trust's collections account, and each unmatched payment opened an incident.
Every figure carries the ID of the run that produced it and can be recomputed, with covenants measured against the limit in force on each date. The whole book can be connected, including loans outside any facility.
Glasstape builds on every run the report a facility's investors ask for each month: borrowing base, delinquency, covenants, losses by cohort and collections checked against the bank.
On each facility run, the pool pledged to the facility is frozen with a SHA-256 hash of its rows, and an attestation report can be produced from that record, so the figures reported for a date can be checked later.
Each facility in read-only sections, including covenants, reconciliation and incidents, with uploads of new tapes from the same portal.
Your investors read the same calculations and reports you do, so no file has to be sent by email.
A reader can be given access with the lender's identity removed from every figure, name and label. Bank and incident detail stay closed to that reader.
Tapes and payment files sent by REST API, authenticated with a personal access token issued from the lender's account.
Glasstape's analysts run the onboarding with your team. Excel and CSV files are uploaded in the portal or sent through a REST API, and the mapping is agreed once.
The lender applies through the Glasstape form with its loan tape, its payment tape and the documents the form lists.
AI agents propose the mapping of columns and loan statuses and read the write-off policy and the financial statements, and an analyst approves the mapping.
Eligibility criteria, concentration limits and covenants from the facility agreement are configured as rules.
The loan agreements of the pool are read and compared with the tape.
The history is loaded and the first tape runs on the deterministic engine. Later files keep the agreed columns, and a file that drops or renames one is rejected before processing.
The facility agreement still sets the eligibility criteria and the advance rate. Glasstape checks each pledged loan against its documents, so a loan with complete evidence counts on the tape where it first appears, and a loan held out for an exception returns to the base on the next run once the exception is resolved.
The lender keeps its systems. Glasstape reads the Excel and CSV files the lender already exports, uploaded in the portal or sent by API, with the column mapping agreed once at onboarding.
The loan is left out of the borrowing base until the lender supplies the document or corrects the tape, and the difference opens an exception with the page of the agreement cited. A term changed in a later tape is accepted only with a signed amendment.
AI agents work in two places: onboarding, where they map columns and loan statuses and read the write-off policy and the financial statements, and contract verification, where they extract each term of the loan documents with its page. An analyst approves the mapping, and every comparison, eligibility test, payment match and covenant measurement runs on a deterministic engine.
The loan remains pledged to the facility and its payments remain in the reconciliation, and its balance is left out of the borrowing base. Glasstape records the criterion that failed.
An incident opens with the payment attached as evidence. The payment stays open in the reconciliation ledger until a matching credit arrives, and it is marked overdue once the remittance period set in the facility agreement has passed.
An investor reads the same calculations and reports as the lender. Anonymized access removes the lender's identity from every figure and keeps bank and incident detail closed.
A loan tape and a payment tape in Excel or CSV covering at least the last two years, or the full history if it is shorter, together with month-end snapshots of the book and the other documents the application form lists.
The demo runs on a simulated facility, so you see the borrowing base, the covenants and the investor report before sending any data. To start afterwards, a loan tape and a payment tape covering the last two years are enough.
Book a demoTell us about your book and we will set up a call. The demo runs on a simulated facility, so you see the borrowing base, the covenants and the investor report before sending any data.
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