Cash Position
Covenant Floor ($400K)
Forecast (dotted)
⚠ BLES — DSCR approaching floor
Current DSCR: 1.24x. Covenant minimum: 1.20x. Occupancy at 84% — 2 vacant lots. At current trajectory, breach risk in 6 weeks. Recommend pushing non-urgent capex of $18K.
⚠ ORDG — Late rent collections
3 tenants 30+ days overdue ($8,400 total). If not collected by May 31, June DSCR drops to 1.18x — below covenant. Escalation recommended.
✓ Portfolio cash trough — Week 18
Model projects $487K minimum in Week 18 (Aug 30). Well above $400K covenant floor. No action required.
✓ APCH refinance complete
Rate reduced from 7.2% to 6.8%. Annual debt service saving: $14,200. DSCR improved 0.08x.