Beregn hvornår banken får overtaget

Indtast dine tal og se hvornår et brud på lånevilkår kan flytte forhandlingsstyrken til din långiver. Du får datoen, prespunkterne og hvad der stadig kan ændre udfaldet.

Indtast dine lånetal og se din eksponering.

Hvorfor det her betyder noget
1
Din låneaftale satte grænser, da du optog gælden
2
Når de grænser brydes, ændrer magtforholdet sig
3
Det afgørende spørgsmål er ikke kun, hvornår likviditeten er væk. Det er, hvornår banken får overtaget, før du er klar med næste træk
4
Covenant Horizon viser datoen, prespunkterne og hvilke greb der stadig kan flytte udfaldet

For companies with covenant-bound debt.

Upload your P&L and/or Balance Sheet from your accounting software. Supports CSV and Excel (.xlsx).

📁
Drop file here or click to browse
.csv, .xlsx, .xls

Upload your loan agreement PDF and let AI extract the covenant threshold, debt amount, test frequency, and more. You review and edit everything before applying.

📄
Drop PDF here or click to browse
.pdf only
Your loan numbers
?Not sure which to pick? Monthly EBITDA is what your business earned in the most recent month. LTM EBITDA is the total for the last 12 months. If you have your annual P&L, choose LTM. If you only have recent monthly reports, choose Monthly. 📋 Where to find it: Your P&L statement from your accountant. Look for "EBITDA" or "operating profit."
Number format: 1,000,000.00
?How many years of profit it would take to pay off all your debt. A ratio of 2.8 means you owe 2.8 times your annual earnings. We calculate this from your other inputs — enter it here so we can check they match. 📋 Where to find it: Your lender may quote this in review meetings or quarterly reports.
Debt / EBITDA (e.g. 2.8)
?The limit your bank sets on how much debt you can have compared to your earnings, typically called a ratio in contracts. If you go over this number, you've broken a rule in your loan — and the lender gets extra power. 📋 Where to find it: Your loan agreement, in a section usually called "Financial Covenants."
Max ratio before breach (e.g. 3.0)
?Your company's monthly operating profit before accounting adjustments. Think of it as: revenue minus the costs of running the business, but before interest, tax, and depreciation are subtracted. 📋 Where to find it: Your P&L statement from your accountant. Look for "EBITDA" or "operating profit."
Current monthly figure
?Is your monthly profit going up, down, or staying flat? Enter the amount that changes each month. A negative value means it's shrinking (e.g., -25,000). Positive means growing. Enter 0 if it's roughly stable. 📋 Where to find it: Compare your last 3–6 months of EBITDA and estimate the monthly pattern. You find the EBITDA in your P&L statement from your accountant or bookkeeper. Look for "EBITDA" or "operating profit."
Change per month (negative = decline)
?The total amount you owe to your lender — loans, credit lines, and any borrowed capital. Do not include what you owe suppliers (trade payables) or money from investors (equity). 📋 Where to find it: Your balance sheet under "Interest-bearing debt" or "Long-term liabilities." Your lender can confirm.
Outstanding debt balance
?The date when your cash runs out if nothing changes. If this comes before a loan breach, running out of cash is your more urgent problem. 📋 Where to find it: Your accountant or CFO can estimate this from your current cash balance and monthly burn rate.
When cash runs out
?When you expect new money to arrive — from investors, a new loan, or refinancing. If you break your loan terms before this date, the lender has leverage over you before your lifeline lands. 📋 Where to find it: Your own funding timeline. When is the next capital expected to close?
When new funding lands
Fine-tune the model to match your actual covenant agreement: testing frequency, net debt definitions, and EBITDA adjustments.
?How often your lender checks whether you're within your loan limits. Most lenders check quarterly (every 3 months). You can only break the rules on a test date — not between them. 📋 Where to find it: Your loan agreement, in the covenant testing section. Or ask your lender contact.
Monthly or Quarterly
?The date of your next scheduled covenant test. Future test dates are calculated forward from this date. If left empty, the model tests every month from today. 📋 Where to find it: Your lender's reporting schedule or your last compliance report.
Anchor for test schedule
Many covenants use net debt instead of gross debt
?Some loans measure debt after subtracting your cash in the bank. If your loan uses "net debt," enable this and enter your cash balance — it makes your ratio look better. 📋 Where to find it: Check if your loan agreement says "net debt" or "gross debt" in the covenant definition.
?Some loan agreements let you adjust your profit number upwards for unusual costs (like a one-time restructuring). This makes your financial position look better for the covenant test. 📋 Where to find it: Your loan agreement may list "Permitted Adjustments" or "EBITDA Add-backs." Ask your lawyer or lender.
e.g. 10 for 10% add-back
The Cash Conversion Cycle measures how long cash is tied up in operations. Adding these figures shows the hidden drag on your effective headroom.
?Average days to sell inventory. Calculated as (Avg Inventory / COGS) x 365. Uses COGS, not revenue.
Days to sell inventory (e.g. 45)
?Average days for customers to pay you. Calculated as (Avg AR / Revenue) x 365. Based on revenue.
Days to collect payment (e.g. 38)
?Average days you take to pay suppliers. Calculated as (Avg AP / COGS) x 365. Uses COGS. Higher works in your favor.
Days to pay suppliers (e.g. 30)
?Annual revenue or run-rate. Used with gross margin to calculate the cash trapped in your operating cycle.
For working capital estimation
?Your gross margin as a percentage. Used to derive COGS from revenue for accurate DIO and DPO calculations. COGS = Revenue x (1 - Gross Margin). E.g. 65% margin means 35% of revenue is COGS.
e.g. 65 for 65% margin
?Percentage of total revenue from your single largest client. If above 20%, losing that client could dramatically accelerate a covenant breach.
% from largest client (e.g. 35)
?Your expected monthly revenue growth rate as a percentage. Used to project how working capital demand scales with growth. Even modest growth rates can create significant cash demand if your cash conversion cycle is long.
Expected monthly revenue growth (e.g. 10)
?Total fixed monthly operating costs including payroll, rent, insurance, and other overhead that does not vary with revenue. Used to calculate operating cash flow after working capital absorption.
Payroll + rent + other fixed opex
?Your current available cash balance for operations. This is the starting point for the stress test projection. May differ from Cash on Hand used in the net debt calculation if some cash is restricted.
Available cash for operations

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Method & Real Example

Covenant Horizon estimates covenant headroom as time-to-breach on the next covenant test dates, using net debt to EBITDA and an explicit EBITDA trend assumption. Results are directional. Your loan agreement definitions always govern.

Example Inputs

Net debt4.35m
LTM EBITDA1.80m
Current net leverage2.4×
Covenant threshold3.0×
EBITDA trend−10k / month
Test frequencyQuarterly
Next test date31 Mar 2026
Cash-zero date31 Jul 2026
Funding close30 Sep 2026
Cash conversion cycle87 days

Example Output

Projected breach test date30 Jun 2026
Headroom13 weeks
Negotiation riskBreach before funding close

That single output drives the board conversation: request a waiver now, accelerate the funding timeline, or renegotiate the covenant — while you still have leverage.

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Early Warning Index ApS is committed to protecting your personal data in accordance with the EU General Data Protection Regulation (GDPR).

What We Collect

  • Your email address, name, and company name (provided by you)
  • Your covenant scenario data (breach date, headroom, leverage, etc.) — auto-captured from your calculation
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