CovenantBook: loan covenant packages without the fragile compliance spreadsheet

Every quarter, someone rebuilds the same DSCR and leverage table for the bank. Thresholds live in the credit agreement; actuals come from the trial balance; the pass/fail formulas live in a workbook that broke when a covenant was added mid-facility.

CovenantBook is a free, local-first commercial loan covenant compliance workpaper for credit officers, portfolio managers, and borrower CFOs. No account. No upload.

What you get

• Min/max thresholds with absolute and % headroom
• Pass, watch (thin headroom), fail, and incomplete statuses
• Facility commitment / outstanding utilization
• Presets for DSCR, leverage, current ratio, FCCR, cash, TNW, capex
• Period snapshots, exceptions CSV, plain-text lender summary

Honest limits

Not a loan system or a legal determination of default. You supply the actuals; this workpaper compares them to thresholds. Confirm definitions against the credit agreement.

Live: sybilgambleyyu.github.io/CovenantBook

Source: github.com/SybilGambleyyu/CovenantBook

Canonical: blog post