Borrower Underwriting Report
Northgate HVAC & Plumbing LLC
$85,000 MCA request · 12-month term · 6 months analysed
- Report ID
- SP-2026-1026-NG7F2
- Generated
- 2026-10-26 09:14 UTC
- Statement period
- Apr 1 – Sep 30, 2026
- Source
- 1 combined PDF
6-month day-weighted ADB
$45,478
Rebuilt from every day-end balance
True operating revenue / mo
$118,637
$52,300 of non-operating deposits excluded
Existing MCA burden
$12,003 / mo
2 positions · 10.1% of true revenue
NSF / returned items
3
Across 6 months
Transactions verified
1,839 / 1,842
3 rows flagged for review
Month-to-month continuity
4 of 5
1 opening-balance mismatch
Summary
What the file shows
Deposits average $127,353 per month, of which roughly $118,637 looks like operating revenue after transfers, lender proceeds and refunds are removed. The account has been open and active for the full six months, with no month below $118,340 in deposits.
Two MCA positions are already debiting the account: Velocity Advance at $1,850 weekly since March, and Summit Capital at $920 weekly since June. Together they consume about 10.1% of true operating revenue. Three NSF events occurred, none in the last 60 days.
Cash flow
Month by month
| Month | Opening | Deposits | Withdrawals | Net | Closing | ADB |
|---|---|---|---|---|---|---|
| Apr 2026 | $163,595.00 | $121,480.00 | $98,260.00 | $23,220.00 | $186,815.00 | $39,120 |
| May 2026 | $186,815.00 | $132,905.00 | $104,880.00 | $28,025.00 | $214,840.00 | $43,760 |
| Jun 2026 | $214,840.00 | $118,340.00 | $109,915.00 | $8,425.00 | $223,265.00 | $45,210 |
| Jul 2026 | $223,265.00 | $126,755.00 | $112,640.00 | $14,115.00 | $237,380.00 | $44,980 |
| Aug 2026 | $237,380.00 | $138,220.00 | $121,400.00 | $16,820.00 | $254,200.00 | $47,860 |
| Sep 2026 | $254,325.00 | $126,420.00 | $108,730.00 | $17,690.00 | $272,015.00 | $51,940 |
| Total | — | $764,120.00 | $655,825.00 | $108,295.00 | $272,015.00 | $45,478 |
Opening + deposits − withdrawals = closing, recomputed after every transaction row. September's opening balance is highlighted because it is $125.00 above August's closing balance — that break is why opening + net does not equal the reported closing, and it is flagged in the review list.
Revenue quality
What was excluded — and why
| Deposit class | Amount | Treatment |
|---|---|---|
| Customer receipts & operating deposits | $711,820.00 | Counted as revenue |
| Transfers between own accounts | $31,200.00 | Excluded — not revenue |
| Lender / advance proceeds | $14,600.00 | Excluded — financing inflow |
| Refunds, reversals & chargebacks | $6,500.00 | Excluded — not new revenue |
| Reported deposits | $764,120.00 | Every exclusion listed above |
Nothing is silently deducted. You can accept or reject each exclusion line before the report goes to a funder.
Stacking
Existing MCA positions detected
| Funder | Cadence | Avg debit | Debits | Total in period | Est. remaining | First seen |
|---|---|---|---|---|---|---|
| Velocity Advance | Weekly · Friday | $1,850.00 | 26 | $48,100.00 | $16,650.00 | Apr 2026 |
| Summit Capital | Weekly · Tuesday | $920.00 | 14 | $12,880.00 | $5,520.00 | Jun 2026 |
| Combined | Weekly | $2,770.00 | 40 | $60,980.00 | $22,170.00 | — |
Weekly burn
$2,770
Monthly burden (×4.333)
$12,003
Share of true revenue
10.1%
Matched by funder name and debit cadence. The run-rate uses the current weekly cadence; actual debits in the window were $60,980 because Summit Capital started in June. An unnamed or newly renamed funder can be missed; an empty table would not prove the borrower has no other advances.
Payment behaviour
NSF & returned items
| Date | Type | Detail | Amount | Balance after |
|---|---|---|---|---|
| 2026-05-18 | Returned ACH | Equipment lease — LeaseCo | $1,240.00 | $12,480.42 |
| 2026-06-03 | NSF fee | Bank service charge | $35.00 | $8,902.18 |
| 2026-08-21 | Returned check | Check #1042 — supplier payment | $2,850.00 | $14,115.76 |
Review list
What a human should check
Sep 1 opening balance is $125.00 higher than the Aug 31 closing balance
August closes at $254,200.00; the September statement opens at $254,325.00. Could be a late-posted item or a missing page. Confirm with the borrower before the file goes to a funder.
Source: Sep statement p.1 · Aug statement p.4
One debit is ambiguous between $1,240.00 and $1,840.00
Two independent readers disagree on the same cell (Jul 2, page 2). The running balance resolves to $1,240.00, which is what the report uses. The cell is marked for a 10-second human check.
Source: Jul statement p.2, row 11
30-row balance break isolated to a single page
Rows 411–440 reconcile once the page-3 subtotal is treated as a non-transaction line. No transactions were altered; the page is listed so the reviewer can see exactly where the break occurred.
Source: Jun statement p.3
Verification
How a funder checks this without an account
Input document hash
sha256:9f3c1a7e4b2d58c0a6f41e9d7b3c2a80e5d14f6b9c0a7e2d3f8b5c1a4e6d7f21
Binds the combined statement PDF to this report. One changed byte changes the hash.
Balance proof
163,595.00 + 764,120.00 − 655,825.00 = 271,890.00; statement closes at 272,015.00 — $125.00 unexplained, flagged (Aug→Sep)
1,839 of 1,842 rows tie. The 3 exceptions are listed above with page references.
The funder opens the certificate link, sees the hash and the balance proof, and can confirm the report was not edited after issue. No account, no seat.
Open this sample certificate on the verification pageMethod
What this report does and does not do
- Recomputes the running balance on every transaction row and flags any break.
- Weights every day-end balance by the number of days it was actually held.
- Lists every excluded deposit instead of quietly reducing revenue.
- Says “could not run” on forensic checks that cannot be completed.
- Not a credit decision. The lender owns the decision and any adverse-action notice.
- MCA detection is name- and cadence-based; unnamed funders can be missed.
- Statements are shredded after conversion and never used for training.
- True revenue is an analytical classification, not an audited financial statement.