Minimum operating cash
Threshold: $380K
$892K today · $318K projected wk 6
Week 6 trough approaches covenant floor before Apex receipt.
Working capital
LOC, covenants & conversion cycle
VelaData AI models borrowing base, floors, and draws before you hit a breach — especially around large material purchases and payroll cycles.
Net working capital
$4.3M
Cash conversion cycle
75 days
DSO 47 · DPO 38
LOC available
$1.5M
$1.1M drawn
Borrowing base
$3.8M
85% AR + 50% inventory
Line of credit
Asset-based revolving credit facility
Lake Michigan Business Bank
Limit
$2.5M
Drawn
$1.1M
Available
$1.5M
Rate
SOFR + 2.25%
Maturity 2028-03-15
Week 6 covenant review — week 6 trough may require $380K draw.
Borrowing base composition
Eligible collateral
Eligible AR (85%)
From open customer invoices
$1.3M
Eligible inventory (50%)
Raw, WIP, and finished goods
$1.2M
Total borrowing base
$3.8M
Covenant headroom
Operating Cash vs $380K floor
Projected from live 13-week forecast · trough $133.0K
$892.0K1
$824.0K2
$1.1M3
$1.5M4
$798.0K5
$318.0K6
$133.0K7
$213.0K8
$853.0K9
$735.0K10
$735.0K11
$639.0K12
$639.0K13
Covenant monitoring
Live headroom — updated weekly
watch
Borrowing base availability
Threshold: 85% of eligible AR + 50% inventory
$3.8M base · $1.45M available
Eligible AR and finished goods support planned $380K draw.
Fixed charge coverage
Threshold: ≥ 1.15×
1.22× projected
Steel purchase and payroll week compress coverage temporarily.