Drawdown and payoff request processing, every request checked against the agreement before the cut-off
Same-day requests checked and queued before the cut-off.
See one case, screen by screen ↓It is the funding desk’s daily work of taking a borrower’s request to draw, pay off, pay down, elect a rate or quote a payoff, matching it to the loan, checking it against the credit agreement and the bank’s records, and releasing the money or returning the request. Drawdown & Payoff Request Processing has six agents do the reading and checking, and puts every request on one release console where a person releases.
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Requests to draw on a revolver or a delayed-draw term loan, to pay off another lender, to pay down, to continue or convert a SOFR interest period or to quote a payoff reach the funding desk all day, by email, fax and the borrower portal. Most must be acted on the same day, before the wire cut-off. Each one has to be matched to the loan and checked for notice period, minimum and multiple, availability, conditions precedent and signer authority — and those terms sit in the credit agreement, the loan system, the borrowing base certificate and the incumbency file.
The costliest miss is not a late notice. It is a payoff letter that looks normal: an email from a domain one character off the payee’s, announcing an “updated remittance account”. Once a wire settles it is rarely recovered. So the specialist has to compare every outgoing instruction with the one the bank verified, and call back on a number the bank already holds, while the clock runs.
Estimated split for a typical request, in minutes, by hand and with the solution. A call-back, when one is needed, is still a person on the phone.
Six specialist agents check every request against the agreement and the payee file; the funding specialist releases.
Tuesday 13 October, 1:42 p.m. at Ashgrove Bank’s funding desk — 2 h 18 m to the 4:00 p.m. wire cut-off, twelve requests on the console. One of them is a $2.85 million payoff with the wrong account in it. Here is what happens next, screen by screen, in the working solution.
Renata’s home is the release console: a cut-off clock, a ribbon of the day with a mark for every request at the minute it arrived, and a row per request with a square for each check. $7,146,310.42 is waiting to be released across four requests; three are held. One row is red.
“A release unlocks only when all nine checks pass.”
Corvane Equipment Finance’s payoff letter for Marlow Freight Lines arrives by email: principal $2,831,904.17, accrued interest $12,486.25, a $1,920.00 processing fee — $2,846,310.42 good through 13 October, $786.64 per diem after. The reader matches it to the delayed-draw term loan 4410-2287 and to Marlow’s notice of borrowing of Friday 9 October, and highlights each passage it took a value from.
Every extracted value carries the line it came from; a missing field is asked for, never guessed.
Notice: one business day, by noon (§2.2(c)) — met. Amount: above the $500,000 minimum and inside the $3,000,000 delayed-draw tranche, all of it undrawn. Conditions precedent (§4.3): all four met, including the payoff letter and authorisation to file UCC-3 terminations. Signer: Dana Whitcomb, CFO, on the list. Each check cites the clause it rests on.
Every payment to Corvane has gone to Tessaro Bank, Columbus, account ••••4471 — on file since 3 March 2025, used twice. The letter asks for Bramblewood Savings Bank, Dayton, ••••9023. It came from corvane-finance.com, registered on 6 October; Corvane writes from corvanefinance.com. The phone number for questions is not the one on file, “LLC” is missing from the beneficiary, and the PDF was made in a word processor at 11:41, outside Corvane’s payoff portal.
“Account changed since last request — call-back required.”
Renata calls Corvane’s payoff desk on (614) 555-0148, the number in the verified payee directory. Lena Brandt confirms the Tessaro account has not changed and the letter is not theirs. Renata logs the call; a fraud report opens and Corvane is asked to re-issue the letter through its portal.
The number in the emailed letter, (614) 555-0193, is never dialled.
Corvane’s re-issued payoff letter arrives through its portal, reference CVF-PO-77810: same amount, Tessaro Bank ••••4471. The agents read it again and run every check again. The wire now matches the file and the call-back is on the record, so the release unlocks — for two people, because the amount is above $1,000,000.
“All checks pass — $2,846,310.42 — Theo Marsh co-approves before it goes.”
Theo sees the same checks Renata does: Fedwire to Corvane Equipment Finance LLC at Tessaro Bank, value today, 9 of 9 checks passed, the call-back logged at 1:49 p.m. He approves.
“Call-back is on the record. Go.”
Renata releases. $2,846,310.42 goes to Corvane at Tessaro Bank ••••4471 at 2:16 p.m., inside the good-through date, so no extra day of per diem at $786.64. The $2.85 million did not go to a stranger’s account.
Sable Creek Vineyards faxed a $500,000 advance request signed by Gareth Lowe. The incumbency certificate of 14 August 2026 removed him; the current signers are Imogen Hart, CFO, and Paul Sabatino, Managing Member. The request is held under §11.4, with a note to Imogen Hart and a prompt for Jordan Pike to call.
A failed check becomes a note, not a silent hold. Ostrander’s Term SOFR request missed the three-business-day notice in §2.2(a), so the note offers a Base Rate loan on the 15th converting to SOFR on the 19th, or SOFR on the 16th. Copperline asked for $640,000 when the 30 September borrowing base leaves $290,000 available. A person reads and sends every note.
The release preparer never sends a note without a person.
The same afternoon, seen by the four people who carry it — what their day looked like, and what it looks like now.
Six specialist agents check every request against the agreement and the payee file; the funding specialist releases.
Reads every email, fax and portal form, including scanned forms; classifies it as a drawdown, payoff, paydown, rate election, payoff quote or not a request; and pulls out borrower, loan, amount, value date, rate option, interest period, signer, payee and every wire instruction field.
Finds the facility and the clause that governs the request, and tests the notice deadline in business days and time of day, the minimum and multiple, the interest period and the use of proceeds.
Reads balances from the loan system and the latest borrowing base certificate, computes availability, and checks conditions precedent: no Default, deliverables current with cure periods, payoff letters and lien releases where required.
Checks every signer against the borrower’s current incumbency certificate and compares the signature with the specimen on file.
Compares beneficiary, bank, routing and account with the verified payee directory and the payments already made to that payee from any loan; checks the sender’s domain age and spelling, the reply-to and whether the document came from the payee’s portal; locks the release until a call-back is logged.
When every check passes, builds the Fedwire or book-transfer instruction and routes anything above $1,000,000 to the operations supervisor; when a check fails, drafts the return note or referral with the clause and the alternative; warns 60 minutes before the cut-off.
Releases; supervisor co-approves above $1M. The agents propose; a named person decides.
The funding desk can ask in plain words about a borrower, a check or the cut-off. Every answer points to the agreement, the letter or the record behind it.
Why is the Marlow payoff locked?
Because the wire instructions in Corvane’s payoff letter are not the ones on file. Every payment to Corvane has gone to Tessaro Bank ••••4471; the letter asks for Bramblewood Savings ••••9023. It came from corvane-finance.com, registered seven days ago, and gives a phone number that is not on file. Call (614) 555-0148, the payoff desk on file — never the number in the letter. The release stays locked until the call-back is logged.
Which releases could miss the 4:00 cut-off?
Four are still to go, with 2 h 18 m left. Marlow Freight Lines is waiting on the call-back and the re-issued letter; Garrity Logistics and Ridgeback Aggregates on Theo’s co-approval; Wrenfield Pharmacy Group on your release. Marlow is the only one at risk: Corvane must re-issue the letter after the call-back, and its per diem is $786.64 a day if it slips.
Draft the return note for Ostrander’s SOFR request
Already sent at 9:21. Ostrander asked for a Term SOFR loan on Thursday 15 October, but SOFR notices are due by 11:00 a.m. three business days before — today’s notice allows Friday 16 October at the earliest. The note offers a Base Rate loan on the 15th converting to SOFR on the 19th, or SOFR on the 16th. Nothing was booked.
How much can Copperline draw today?
$290,000. The 30 September borrowing base is $8,200,000 and $7,910,000 is outstanding; the revolver lends the lesser of the commitment and the base. Mateo Ruiz, Copperline’s CFO, asked for $640,000, so the note offers $290,000 today, or the full amount if an updated certificate shows the receivables.
13 screens from the working solution, on its sample data. Pick one to see it large.
Cut-offs, approval limits and the call-back rules are settings. Each agreement’s own clause still wins over a default.
| Setting | Default | Choose from |
|---|---|---|
| Same-day release cut-off | 4:00 p.m. ET | Earlier than the Fedwire 6:45 p.m. ET customer cut-off, to leave room for call-backs |
| Warn before the cut-off | 60 minutes | Rows still open turn amber on the console |
| SOFR notice deadline (default) | 11:00 a.m. · 3 business days | Each agreement’s own clause wins |
| Base Rate notice deadline (default) | 12:00 p.m. · same day | Each agreement’s own clause wins |
| Second approval above | $1,000,000 | Named operations supervisors |
| Release button | Locked while any check is open | Cannot be turned off |
| Call back when | Bank, routing, account or name changes | Also: first payment to a payee; payee unused 12 months; payoff letter not from the payee’s portal |
| Lookalike sender domains | On | Flags domains younger than 30 days or one edit from a payee’s |
Every figure is labelled: a target the solution is built to, an estimate, a typical published result, or a proven one.
“demo” = seen in the working solution, on its sample funding-desk data · “target” = the design goal, measured in the live solution · “estimated” = our estimate of where a request’s minutes go · “typical” = published figures (AFP 2025 Payments Fraud and Control Survey — 63% say wires were the payment most targeted by business email compromise; FBI IC3 2024 Internet Crime Report — $2.77B in business email compromise losses). People, banks, borrowers, accounts, phone numbers and domains named on this page are fictional — characters and sample data in the working solution.
It is the funding desk’s daily work of taking a borrower’s request to draw, pay off, pay down, elect a rate or quote a payoff, matching it to the loan, checking it against the credit agreement and the bank’s records, and releasing the money or returning the request. Drawdown & Payoff Request Processing has six agents do the reading and checking, and puts every request on one release console where a person releases.
Nine: the request is read, matched to the loan, the notice period, the minimum and multiple, availability, conditions precedent, signer authority, wire instructions against the file, and a call-back where one is required. Each check cites the clause or record it rests on.
The wire instruction guard compares every outgoing instruction field by field with the verified payee directory and past payments, and checks the sender’s domain and how the document was made. Any change of bank, routing, account or name locks the release until someone logs a call-back to the number already in the directory — never a number from the request.
No. The agents read, check and prepare; the release preparer never releases money and never sends a note without a person. The funding specialist releases, and the operations supervisor co-approves every release above $1,000,000.
It is held, and the release preparer drafts a return note or referral that names the clause and offers what will work — the next date that meets the notice period, or the amount available under the borrowing base. An Event of Default is referred to the relationship manager instead of going to the borrower.
Yes. The same-day release cut-off, the warning before it, the default SOFR and Base Rate notice deadlines, the second-approval limit, who may release and the call-back triggers are settings. Each agreement’s own clause still wins over a default, and the release lock cannot be turned off.
Borrower email, fax and the borrower portal; your credit agreements; your loan system’s balances; borrowing base, compliance and incumbency certificates; and the verified payee directory. It produces the Fedwire or book-transfer instruction for a person to release.
The Agentic Solution Engine builds and deploys it from your requirements — your agreements, request forms, approval limits and a sample of past requests — and it goes live once every quality gate has passed. We will walk you through it on your own requests first.
Booking errors caught before the first bill goes out.
1-min demoLoan Document SearchAnswers in seconds, with the clause that proves them.
1-min demoLoan Document Exception TrackingExceptions cleared in days, not left open for months, each one read before it clears.
1-min demoWe’ll run Drawdown & Payoff Request Processing on a sample of your own draw and payoff requests.