Active Book
$2,516,324
Principal outstanding
↑ +$4,200 today
Collected Today 72%
$0
Successful direct debits
Accumulating...
Disbursed Today
$0
NPP payments out
0 loans funded
LVR ⚠ Watch
66.4%
Max 70.0% — Headroom: $80K
RNC facility $1.5M drawn
Monoova Balance
$284,000
Funding account — live
↑ Net inflows today
Monoova Balance — Intraday Live
Net today
+$0
Collections in
$0
Loans out
$0
Dishonoured
$0
Collection Rate
72%
of scheduled DDs succeed
Today
72%
Best-in-class target
90%
Gap = ~$240K/mo additional revenue at $7M book — addressable with Collections Agent (Phase 2)
Today's Operations
Applications in
0
Approved
0
Declined
0
Funded
0
DDs attempted
0
Dishonoured
0
Pre-DH flags
14
Live Transaction Feed Real-time
Active Alerts
Current bucket declining67.2% vs 70.0% on Mar 10 — down 2.8% in 4 days. Monitor DPD migration daily.
90+ DPD elevated$191K (7.6% of book). Approaching write-off territory. Expected loss: ~$95-130K.
LVR within covenant66.4% — 3.6% below the 70% limit. Headroom $80K. Improving as book grows.
March originations on track$518K in 14 days. Tracking for ~$1.1M month — 57% returning (zero CAC).
Portfolio Health — DPD Distribution Watch: 67.2% current
Current (0 DPD)
$1,692,070
67.2%
1–30 DPD (eligible for RNC)
$283,534
11.3%
31–60 DPD
$204,195
8.1%
61–90 DPD
$145,472
5.8%
90+ DPD (approaching write-off)
$191,053
7.6%
Collections vs Disbursements — Intraday
Active Principal
$2,516,324
6,765 active loans
↑ +$35K vs Mar 10
Eligible Principal RNC
$1,975,604
≤30 DPD — 78.5% of book
Used in LVR calculation
March Originations
$518,275
927 loans — 14 days
↑ 57% returning (zero CAC)
Lifetime Volume
$12.56M
21,738 loans since Jan 2024
$2.56M revenue generated
Book Size — 2026 Actual + Projection
Projection: skip Apr draw, draw $250K on 1st of each month May–Dec. All after-tax profits reinvested.
Monthly Originations — 2026
Loan Status — Lifetime
■ Active loans
6,765 (31.1%)
■ Completed (paid off)
13,512 (62.2%)
■ Sold — bad debt
1,106 (5.1%)
Total loans originated
21,738
Lifetime principal loss rate
5.09%
Payment rate (principal)
79.7%
New vs Returning — March 2026
New CAC
$69/loan
Returning CAC
$0
Revenue from returning (Feb)
$283K zero-CAC
Portfolio Donut — DPD
Eligible principal (≤30 DPD): $1,975,604 — used by RNC to calculate LVR
Collection Rate Gap vs target
72%
of DDs succeed | target: 90%
↓ 18% below best-in-class
Dishonour Rate
28%
of DDs fail | target: <12%
↓ ~60% due to pay timing mismatch
Tomorrow's Pipeline
$18,457
Scheduled collections
At 72%: ~$13,289 expected
Feb Total Collections
$1,415,117
Revenue: $366,403 (25.9%)
↑ Best month to date
Collection Rate Trend — 6 Months
Rate has been stable at 72%. Phase 2 (Collections Agent) targets 88-92% within 6 months — primarily by aligning DD timing to customer pay cycles.
Why Customers Dishonour
■ Pay timing mismatch (~60%) — DD hits 1-2 days before pay arrives. Fix: align DD to T+1 after pay day. Reduces DHs by 40-50%.
■ Genuine inability (~40%) — insufficient funds at time of DD. Requires early intervention & payment plans.
Cure Opportunity by DPD Bucket
1-30 DPD outstanding
$283,534
Est. curable (70% cure rate)
~$198,474
31-60 DPD outstanding
$204,195
Est. curable (40% cure rate)
~$81,678
Total curable principal
~$280,152
Revenue at risk if write-off
~$130K est.
Phase 2 — Collections Agent Impact
Current collection rate
72%
After Phase 2 (6 months)
82-85%
Full build target
88-92%
Revenue impact at $7M book (72% → 90%)
+$240K/month
Annualised: +$2.88M/year — zero additional capital
Intervention Workflow
T-14 days
Personalised SMS: "Your $X payment is due Friday — account looks good ✓"
Personalised SMS: "Your $X payment is due Friday — account looks good ✓"
T-7 days
Escalated SMS + automatic reschedule offer to next pay day
Escalated SMS + automatic reschedule offer to next pay day
T-3 days
Final reminder + route to call queue for high-risk accounts
Final reminder + route to call queue for high-risk accounts
Day 1 miss
Automated outreach + hardship detection survey sent
Automated outreach + hardship detection survey sent
Day 3-7
Auto-generate payment plan + human queue for hardship cases
Auto-generate payment plan + human queue for hardship cases
Monthly Mktg Spend
$33,149
3-month average
$175,750 last 6 months
Cost per Acquisition
$69
Per funded new loan
↑ Max viable CAC: $200+
Gross LTV (4 loans)
$716
Revenue per lifetime borrower
↑ LTV:CAC = 10.4x
Repeat Borrower Rate
65%
Zero CAC on reborrows
↑ Target: 75-80%
LTV:CAC Waterfall — Per New Customer
Channel Performance — CAC vs Volume
Unit Economics — Per Customer
Revenue per loan
$179
Lifetime avg loans
4 loans
Gross LTV (4 loans)
$716
CAC (new customer)
($69)
Net revenue per borrower
$440
LTV:CAC ratio
10.4x
Max viable CAC (LTV:CAC = 3x)
<$238
Retention Opportunity
Moving reborrow rate 65% → 75% at $7M book — zero additional spend:
Extra returning loans per month
+700 loans
At $179/loan revenue
Extra monthly revenue (zero CAC)
+$125,300
Annualised: +$1.5M/year — funded by Retention Agent (Phase 3)
Channel Priority & Strategy
① Google Search
Highest intent — scale first
② Meta (FB/IG)
Lookalike audiences — scale 2nd
③ Comparison sites
CPA model — no creative needed
④ Broker referral
Zero CAC — build now
Capital constraint note
Scale after facility expanded
Current CAC of $69 gives 10.4x LTV:CAC. You could triple spend to $200+ CAC and still be at 3.6x — well above break-even. Constraint is book capacity, not economics.
LVR ⚠ Watch
66.4%
Max 70.0% | Headroom: $80K
Debt $1.5M / Eligible $1.975M + OA
Vintage Loss ✓ Clear
1.50%
90-day VL | Max 10.0%
↑ Was 11.4% in Oct 2025 — massive improvement
Operating Account ✓ Clear
$284,000
Min $100K | Surplus: $184K
↑ $184K above floor
First Loss Reserve ⚠ At floor
5.0%
Min 5.0% | Exactly at minimum
No headroom — watch closely
Covenant Status — Full Dashboard
Loan-to-Value Ratio (LVR)
Debt ÷ (Eligible Principal + Funding Account) — must stay below 70%
66.4%
Max 70%
Vintage Loss Rate (VL)
% of 90-day cohort receivable written off — was 11.4% (breach) in Oct 2025
1.50%
Max 10%
Arrears (1-30 DPD)
% of book in 1-30 DPD — RNC review event trigger above 6%
11.3%
Target <6%
Operating Account Balance (OA)
Monoova funding account minimum balance requirement
$284K
Min $100K
First Loss Reserve (FLR)
Must equal 5% of total principal outstanding at all times
5.0%
Min 5%
LVR History — 2026
LVR breached 70% in Jan (71.2%) — cured by restricting new draws. Strategy: skip Apr draw, draw $250K/mo May–Dec. LVR projected to fall to 58.3% by December as book grows faster than debt.
RNC Facility Overview
Facility limit
$5,000,000
Drawn to date
$1,500,000
Available to draw
$3,500,000
Interest rate
BBSW (fl. 3%) + 13% = ~17.35%
Prepayment penalty
24 months interest (punitive)
Facility review
Aug/Sep 2026
Draw Strategy — Apr to Dec 2026
April draw
SKIP — LVR too tight
May 1 draw
$250,000
Jun–Dec (1st of month)
$250K × 7 = $1,750,000
Total new debt 2026
$2,000,000
Dec 2026 total debt
$3,500,000
Dec 2026 LVR (projected)
58.3% ↓
Alert Thresholds
LVR warning
65%
LVR critical
68%
VL warning
7%
VL critical
9%
Current bucket warning
65%
OA warning
$120K
OA critical
$105K
Dec 2026 Book
$6.95M
2.8x today's book size
↑ +$4.47M from March
Dec 2026 Revenue
$1.08M/mo
15.52% monthly yield
↑ 2.8x current monthly
Dec After-Tax Profit
$530K/mo
49.1% net margin
↑ from 34.9% today
Cumul. After-Tax (Apr–Dec)
$2.87M
Tax paid: $956K
All reinvested into book
Monthly Revenue & After-Tax Profit — Mar to Dec 2026
LVR Trajectory — Mar to Dec 2026
LVR improves every month as book grows faster than debt. Equity-in-book exceeds debt by December ($3.45M equity vs $3.5M debt).
Monthly Forecast Table — March to December 2026
| Month | Book | Debt (RNC) | Equity in Book | LVR | Headroom | Revenue | After-Tax | Net Margin |
|---|---|---|---|---|---|---|---|---|
| Mar (now) | $2.48M | $1.50M | $0.98M | 65.7% | $99K | $385K | $134K | 34.9% |
| Apr (no draw) | $2.61M | $1.50M | $1.11M | 63.2% | $163K | $406K | $147K | 36.2% |
| May | $3.01M | $1.75M | $1.26M | 64.5% | $152K | $467K | $181K | 38.8% |
| Jun | $3.44M | $2.00M | $1.44M | 65.0% | $154K | $534K | $219K | 40.9% |
| Jul | $3.91M | $2.25M | $1.66M | 64.5% | $191K | $607K | $260K | 42.8% |
| Aug | $4.42M | $2.50M | $1.92M | 64.1% | $230K | $686K | $305K | 44.4% |
| Sep | $4.98M | $2.75M | $2.22M | 63.0% | $305K | $772K | $354K | 45.8% |
| Oct | $5.58M | $3.00M | $2.58M | 61.6% | $407K | $866K | $407K | 47.0% |
| Nov | $6.24M | $3.25M | $2.99M | 60.0% | $539K | $968K | $466K | 48.1% |
| Dec | $6.95M | $3.50M | $3.45M | 58.3% | $704K | $1.08M | $530K | 49.1% |
Assumptions: 15.52%/month yield (186% annualised, Feb actual basis) | 3.5% VL/90d conservative | Fixed costs $108K/month flat | 25% corporate tax rate | All profits reinvested
Current Status
Jarvis — Strategic Intelligence Layer
Available 24/7 via Telegram. Synthesises all data, answers questions instantly, runs scenario models, drafts investor communications, monitors email, builds financial models. The strategic brain of the Command Centre — always on, always context-aware.
Response time: <30 seconds
Available: 24/7
Channel: Telegram
LIVE
Operations Agent — Covenant & Treasury Monitoring
Calculates LVR daily using live loan book data. Monitors all 5 RNC covenants and fires alerts before thresholds are breached. Reconciles Monoova balance vs LMS. Posts journal entries to Xero via API. Auto-generates RNC reporting pack at month end and sends it automatically.
LVR updates: Daily
RNC pack: Auto-generated
Xero sync: Daily journals
Alert lag: <1 hour
LIVE
In Build
Collections Agent — Active Book Management
Scores every active loan daily for dishonour risk. Fires personalised SMS at 14, 7, and 3 days before a scheduled DD. Automatically sends payment reschedule offers to at-risk accounts. Generates payment plans at day 3 of missed payment. Routes hardship cases to human queue. Tracks cure rates per intervention type and continuously optimises message content.
Scoring: Daily, all active loans
Early flag: 14 days pre-DD
Cure target: 40-50% of at-risk
Collection rate impact: 72% → 88-92%
Revenue impact at $7M: +$240K/month
PHASE 2 — Weeks 6-14
Retention Agent — Reborrow & Loyalty Engine
Monitors every completed loan and calculates the optimal moment to offer the next loan — based on the customer's exact pay cycle, days since last loan, and income pattern. Sends pre-approval SMS at the right moment. Returning customers see a pre-filled one-tap application — funds in 60 seconds, zero human involvement. A/B tests message content, timing, and offered amounts continuously to improve conversion.
Timing: Aligned to individual pay cycle
Reborrow rate: 65% → 75-80%
CAC on returns: $0
Avg loans/customer: 4 → 6-8
Revenue impact at $7M: +$125K/month
PHASE 3 — Weeks 10-18
Planned
Credit Agent — Origination Decisioning (ML)
Full ML credit model replacing manual assessment. Outputs approval + optimal loan amount + DD date aligned to customer's confirmed pay day. Trained on 21,000+ completed loans — the largest proprietary SACC dataset in Australia. 95% of applications process without human review. Model retrains automatically every week on new completed loan outcomes.
Processing: 95% straight-through
DD timing: Aligned to pay day (T+1)
VL impact: 3.5% → 1.5-2.0%
DH rate: 28% → 10-12%
Training data: 21,738 completed loans
PHASE 4 — Weeks 14-26
Marketing Agent — Acquisition Optimisation
Connects to Google Ads and Meta APIs directly. Calculates CAC vs LTV in real time by channel, campaign, and audience segment. Auto-adjusts bids to hit target CAC. Pauses campaigns exceeding CAC threshold for 3+ consecutive days. Scales budget on top performers automatically. Generates lookalike audiences from highest-LTV customer cohorts and submits them to ad platforms without human involvement.
CAC target: $50-55 (from $69)
Bid optimisation: Daily
Lookalike gen: Automatic, weekly
Channels: Google, Meta, Comparison
PHASE 5 — Weeks 22-40
Financial Impact — Full Build at $10M Book
Revenue Impact
Manual operations
$650K/mo after-tax
Phase 2 (Collections)
+$240K/mo
Phase 3 (Retention)
+$125K/mo
Phase 4 (Credit AI)
+$80K/mo (lower VL)
Phase 5 (Marketing)
+$55K/mo (lower CAC)
Full build total
$1.15M/mo after-tax
Team & Automation
Automation level (full build)
85%+
Team size at $10M book
6-8 FTE
Humans for exceptions only
~5% of applications
Remaining human functions
Strategy, capital, compliance
Build Timeline
Phase 1 (Ops Agent)
Live now
Phase 2 (Collections)
Weeks 6-14
Phase 3 (Retention)
Weeks 10-18
Phase 4 (Credit AI)
Weeks 14-26
Phase 5 (Marketing)
Weeks 22-40
Drawdown Facility — Interactive Model
Model Parameters — Adjust & Recalculate
Starting Book (Mar)
$2,480K
Monthly Draw ($K)
$250K
Revenue Yield /mo
15.52%
Vintage Loss /90d
3.50%
Collection Rate
72%
Fixed Costs /mo
$108K
RNC Rate (p.a.)
17.35%
Skip April Draw
Dec Book
$6.95M
2.8x today
Dec Revenue/mo
$1.08M
49.1% margin
Dec After-Tax/mo
$530K
25% tax applied
Cumul. Profit (Apr-Dec)
$2.87M
Tax: $956K
Dec LVR
58.3%
Headroom: $704K
Book Growth — Compounding Breakdown
■ Reinvested profit
■ RNC draws
■ Starting book
Revenue vs Cost Waterfall — December 2026
Monthly Revenue, Cost & After-Tax Profit
LVR Trajectory + Covenant Limit
Drawdown Schedule & Compounding Effect — Month by Month
| Month | Draw | Cumul. Draws | Book (Start) | Revenue | Gross Margin | Fixed Costs | Variable Costs | RNC Interest | Pre-Tax Profit | Tax (25%) | After-Tax | Book (End) | Debt | LVR |
|---|
Drawdown Economics — What Each $250K Draw Generates
Revenue Generated Per $250K Draw
Each $250K draw from RNC deployed into loans at 15.52%/month:
Month 1 revenue
$38,800
Month 2 (compounding)
$38,800
Month 3
$38,800
Cost of $250K (17.35% p.a.)
($3,614/mo)
Net revenue per month
$35,186
ROI on draw (monthly)
14.1% net/mo
Annualised net ROI on draw
169% net
Compounding Effect — $250K Draw Over 8 Months
Draw deployed in May, compounding through December:
Draw amount
$250,000
Gross revenue (8 months)
$310,400
Cost of funds (8 months)
($28,913)
Net revenue
$281,487
After-tax net
$211,115
Return on $250K
84% after-tax in 8 months
The Compounding Mechanic — How It Works
Month 1
$250K draw + reinvested profits deployed into new loans at 15.52% yield
$250K draw + reinvested profits deployed into new loans at 15.52% yield
Month 2
Month 1 after-tax profit (~$35K) also earning 15.52% — compounding starts
Month 1 after-tax profit (~$35K) also earning 15.52% — compounding starts
Month 3+
Each month's profit reinvested — book grows, fixed cost drag shrinks, margin expands
Each month's profit reinvested — book grows, fixed cost drag shrinks, margin expands
Key insight
Fixed costs ($108K) stay flat. As book grows, they become a smaller % — net margin expands from 34.9% → 49.1%
Fixed costs ($108K) stay flat. As book grows, they become a smaller % — net margin expands from 34.9% → 49.1%
LVR safety
Skip April draw lets LVR drop from 65.7% to 63.2% before next draw — creates $163K headroom buffer
Skip April draw lets LVR drop from 65.7% to 63.2% before next draw — creates $163K headroom buffer
Sensitivity Analysis — What Changes the Outcome Most
Scenario Comparison — December 2026 After-Tax Profit
Base case: 15.52% yield, 3.5% VL, $250K/mo draws, 72% collection rate, $108K fixed costs
Scenario: VL Improves to 1.5%
Dec book
$7.18M
Dec after-tax/mo
$612K (+$82K)
Cumul. Apr-Dec profit
$3.31M (+$440K)
Dec LVR
56.4%
✓ Achievable — VL already down from 11.4% → 1.5% in Feb 2026. Credit Agent (Phase 4) locks this in.
Scenario: Collections Rate 90%
Dec book
$7.62M
Dec after-tax/mo
$680K (+$150K)
Cumul. Apr-Dec profit
$3.56M (+$690K)
Dec LVR
54.2%
✓ Collections Agent (Phase 2) targets 88-92%. +$150K/mo extra at $7M book — the biggest single lever.
Scenario: Both (VL 1.5% + CR 90%)
Dec book
$8.10M
Dec after-tax/mo
$780K (+$250K)
Cumul. Apr-Dec profit
$4.10M (+$1.23M)
Dec LVR
51.5%
✓ Best-in-class operations = +$1.23M cumulative profit vs base case. +$250K/mo by December. This is the AI agents working.