Overview

A Funding Source is the vehicle used to provide financing for a Deal. Funding sources together make up a Capital Stack and can be Debt, Equity, or Other. This guide walks through the process of creating a Funding Source while aligning field-level instructions with the CLA+ Data Dictionary.

Note: Before creating a funding source, ensure that
Full access permission is provided to the Deal Management:
Portfolio Page & Deal Creation
Deal Details
Deal Overview
Capital Stac
A deal is created

Step-by-Step Instructions:

At the top-left of the page, click Portfolio.
On the Portfolio page, click Deal ID or View for the required deal.
On the left navigation menu, click Capital Stack.
On the Capital Stack page, click + Add funding source.
Complete Required Fields and Press ‘Save’ in the bottom right corner.

Funding Source Form - Data Dictionary

Summary

Field Name	Definition
Classification	Categorizes the Funding Source based on its financial role or type (Debt, Equity, Other). This choice will determine what options are available for Funding Source Type.
Funding Source Type	Identifies a sub-categorization of the Classification. The dropdown options in this menu are customized fields that are aliased versions of Built Standard options. They can be Viewed and Edited in Settings > Field Configurations > Funding Source Type.
Capital Provider	The Capital Provider is the Organization that is providing the Capital for the Funding Source.
Name	The Name given to the Funding Source.
Currency	Field used to capture the currency of the Funding Source.
Total Amount	The Total Amount of the Funding Source.
Anticipated Initial Funding	Anticipated Initial Funding represents the amount of funds the Lender expects to disburse to the borrower at loan closing.
Lending Program	The Lending Program field is used to categorize the different financing structures through which loans are originated, managed, or funded. Each option in this field reflects a distinct type of lending arrangement or funding source, each with its own set of operational, regulatory, and financial characteristics.
Primary Source	Only one Funding Source in a Deal’s capital stack can be marked as “primary”. Its underlying “Loan Number”, “Maturity Date”, and “Closing Date” values can be used at the deal level for identification and reporting.
Lien Position	Lien Position is the ranking order of claims or rights that creditors or investors hold over an asset in the event of a default. In a multi-source debt and equity structure, the Lien Position determines the sequence in which each debt or equity holder would be repaid from asset liquidation proceeds, starting with the first position and moving sequentially downward. Higher-priority lien positions generally represent senior debt that is repaid first, while lower-priority positions are subordinate claims.
Description	Long form free text description of the Funding Source.
Excluded	Designates whether this Funding Source should be excluded from balancing to the Deal’s budgeted Uses.

Servicing Information

Field Name	Definition
External Unique Identifier	The EUID is a unique identifier you can assign from an external system. It enables integrations to reliably match and sync records between platforms. Common examples of EUIDs include Loan Number, Obligation Number, Facility Number, Obligor-Ob.
Additional Reference ID	Additional Reference ID provides an optional input for the Lender to capture an ID associated to the Funding Source.
Account Number	Account Number is used to link the Source to a Bank Account object in the payments service.
Cost Center	An accounting entity within an organization where expenses related to a specific activity, department, or project are tracked and managed. Identifies which department, project, or business unit is financially responsible for the funding-related expenses and allows for accurate allocation, reporting, and analysis of these costs.
Servicer	The Organization servicing the Debt. Organizations can be found in the Contacts page.

Dates & Fees

Field Name	Definition
Target Closing Date	The projected or planned date for the loan agreement to be executed and finalized.
Closing Date	The date all closing documents are executed by the borrower (and guarantors, if applicable). This is when the borrower becomes contractually obligated to the loan. While recorded as an important milestone, this date does not affect maturity or repayment schedules in Built.
Note Date	The date the borrower signs the promissory note. This represents the formal execution of the loan agreement. While tracked for documentation and reporting, the Note Date does not drive maturity or repayment calculations in Built.
Funding Date	The date loan proceeds are first disbursed — either directly to the borrower or on their behalf (e.g., to pay off prior liens, fund construction, or cover closing costs). This is the system’s anchor for calculating loan maturity and repayment schedules. Other milestone dates such as Note Date or Closing Date are tracked for documentation, but do not affect maturity calculations.
Initial Loan Term (months)	The length of the loan’s initial term, in months, before renewal or extension options are considered.
Initial Maturity Date	The original maturity date of the loan, calculated as the Funding Date plus the Initial Loan Term (in months). This reflects the end of the contractual loan term before any extensions are applied.
Current Maturity Date	Date in which loan is up for maturity (including executed extensions) Current Maturity Date = Initial Maturity Date + Active Extension(s)
Fully Extended Maturity Date	Date in which loan is up for maturity if all included extensions are executed Fully Extended Maturity Date = Initial Maturity Date + SUM of Extension
Permitted Extensions	The extension settings that allow the loan term to be extended beyond the initial maturity. Includes sequence order, duration in months, and applicable fees or financial conditions.
Months	The amount of months that a specific extension is for
Fee Amount	Specifies the fee amount of exercising an extension under loan or servicing terms
Fee % Allocation	Specifies the fee percentage applicable under loan or servicing terms.
Fee Debit/Credit	Specifies whether the fee will be a debit or credit under loan or servicing terms.
Fee Basis	Specifies the basis (Commitment Amount, Principal Balance, etc.) of applying the fee percentage to an extension
Max LTV	The Extension Requirement for Loan to Value that must be met by the borrower to qualify for an extension of the loan term
Min DY	The Extension Requirement for Debt Yield that must be met by the borrower to qualify for an extension of the loan term
Min DSCR	The Extension Requirement for Debt Service Coverage Ratio that must be met by the borrower to qualify for an extension of the loan term
Fees
Origination Fee	The amount charged by the lender at loan origination, representing upfront costs for processing, underwriting, and closing the loan.
Servicing Fee	The amount charged periodically by the lender or servicer to manage the loan, covering administration, recordkeeping, and reporting functions.
Exit Fee	The amount charged upon repayment, refinance, or loan payoff. Represents lender compensation for early exit or loan termination.
Custom Fee	Allows for tracking of custom fees

Interest Rate Terms

Field Name	Definition
Interest Type	Specifies whether the loan has a fixed or floating interest rate.
Accrual Method	Defines how interest accrues on the loan (e.g., 30/360, actual/360, actual/actual), which affects how payments and balances are calculated.
Fixed
Interest Rate	The annualized percentage rate at which interest accrues on the debt.
Rate Lock Index	Specifies the Index that was referenced when the Debt’s Fixed Rate was underwritten
Rate Lock Spread	The margin or additional percentage added to the index to determine the total interest rate
Rate Lock Effective Date	The date at which the Fixed Interest Rate was locked in place
Floating
Floating Interest Rate	The annualized percentage rate at which interest accrues on the debt, calculated as Current Index Rate + Spread.
Index	The base index to which the loan’s spread is added, such as LIBOR, SOFR, or Prime.
Current Index Rate	The more recent index rate associated with the Index. This rate is managed from Organization Settings > Interest Rate Indices
Spread	The margin or additional percentage added to the index to determine the total interest rate for variable-rate loans.
Caps & Floors
Method (index or whole rate)	Determines whether the cap and floor will be applied to the Current Index Rate or the Current Interest Rate
Interest Rate Floor	The minimum allowable value when calculating the Interest Rate on a floating-rate loan. This protects the lender by ensuring a minimum Rate is always applied.
Interest Rate Cap	The maximum allowable value when calculating the Interest Rate on a floating-rate loan. This protects the borrower by ensuring interest doesn’t rise above a predefined threshold.
Interest Rate Cap Expiration Date	The date on which the interest rate cap agreement or protection expires.

Structure

Field Name	Definition
Participation Structure Type	Identifies how the funding source is structured in relation to other capital providers. Options include: Participated, Syndicated, or Financed by Internal Capital Sources.
Capital Provider (allocation level)	The participating organization or internal vehicle contributing capital to the participated or syndicated structure.
Role	Specifies the party’s role within the capital structure. Common options include: Participation Lead / Syndicate Agent, Participant / Syndicate Member.
ID / Description	Unique identifier or descriptive label for the specific allocation, used to track participation or syndication agreements.
Share % and Amount	The percentage share and monetary value of total loan commitment allocated to each participating or syndicated capital provider.
Fund	When internally financed, identifies the fund or facility providing the capital for the funding source.
Financing Line / Equity	Specifies the internal financing line, warehouse facility, or equity source used within the fund.
Internal Financing Share % and Amount	The percentage and dollar amount funded by the internal capital source or facility.

Sub-Sources

Field Name	Definition
Are there Sub-Sources?	Indicates whether this funding source includes sub-sources (e.g., escrows, reserves, letters of credit) for specialized purposes or transactions.
Type	Categorizes the type of sub-source (e.g., Escrow, Holdback, Letter of Credit, Reserve, Other). Used to classify purpose and accounting treatment.
Name	User-defined name identifying the sub-source. Helps distinguish between multiple sub-sources of the same type.
Additional Reference ID	Optional external or internal reference identifier associated with the sub-source for integration, reconciliation, or audit tracking.
Original Amount	The committed dollar amount allocated to this sub-source at creation, tracked separately from the main funding source.
Issue Date	The date the sub-source becomes active or available for use.
Expiration Date	The date on which the sub-source expires, matures, or is deactivated.
Release Date	The date on which sub-source funds are released to the borrower or returned to the lender.
Description	Provides context for the sub-source’s purpose, restrictions, or special terms.
Exclude from Budget Balancing	Indicates whether this sub-source should be excluded from capital stack balancing logic. When enabled, it removes the sub-source from budget allocation calculations.

Amortization Terms

Field Name	Definition
Amortization Type	Indicates whether the loan is fully amortizing, partially amortizing, or interest-only, which affects how payments are structured.
Payment Frequency	Defines how often periodic payments are due (e.g., monthly, quarterly, annually). This determines the schedule for calculating interest accrual and payment postings.
First Payment Date	The scheduled date on which the borrower is required to make the first financial payment (typically interest-only) to the lender or funding source provider, following initial disbursement or loan closing.
Monthly Payment Due Date	The specific day of the month (1–31) on which periodic loan payments are due. Used to generate the recurring payment schedule and interest accrual cutoffs.
Interest Only Term	The number of months during which the borrower is only required to pay interest on the loan and no principal payments are due.
Interest Only End Date	The date on which the interest-only period ends and principal payments begin, or the loan becomes fully amortizing.
Amortization Term	Defines the total amortization period of the loan, measured in months, over which the principal balance is scheduled to be repaid.
P&I Date	The date representing the combined principal and interest payment due; typically aligns with the transition from interest-only to fully amortizing payments.
Paid Through Date	The date through which all required loan payments, including principal and interest, have been made by the borrower.

Prepayment

Field Name	Definition
Prepayment Type	Specifies the terms under which prepayment is allowed, such as yield maintenance, defeasance, or no penalty. This field defines the loan’s prepayment structure for modeling and servicing.
Open Period Start Date	The date on which the loan becomes open for prepayment without penalties or restrictions.
Prepayment Penalty Terms	Describes any penalties, conditions, or fees associated with prepaying the loan prior to its scheduled maturity. This may include step-down penalties, yield maintenance, or other contractual conditions.
Prepayment Behavior	Defines how the borrower’s prepayment is expected to occur or be treated. Options include: No Prepayment, Full Payment at Maturity, Early Full Payoff, or Custom Paydown Schedule.
Open at Par Date	The date on which the borrower can repay the loan at its outstanding principal balance (“par”) without incurring penalties or fees.
Early Payoff Date	Only available when ‘Early Full Payoff’ is selected as the Prepayment Behavior. The date the borrower fully repays the loan prior to its scheduled maturity. Used to record and track payoff events in loan servicing and reporting.

Call Protection

Field Name	Definition
Call Protection Type	Defines the structure of prepayment restrictions or penalties that apply to the loan. Common options include: Lockout, Stepdown, Full Prepayment Penalty, Yield Maintenance, Defeasance, and Other.
Lockout End Date	The date on which any restrictions preventing the borrower from accessing or disbursing funds from the lockbox account come to an end.
Stepdown Effective Date	The date on which a stepdown prepayment schedule becomes effective, reducing the penalty rate according to the defined timeline.
Penalty Rate Percentage	The applicable penalty percentage charged on the outstanding principal balance if the loan is prepaid before the designated date or event.
Minimum Interest (months)	Specifies the minimum number of months of interest the lender is entitled to receive if the borrower prepays early, even if the loan terminates before that period elapses.
Minimum Interest Method	Defines how minimum interest is calculated—either as forward only or remaining months.
Penalty Applies To	Identifies which component(s) of the loan balance or structure the penalty applies to, such as interest only or interest plus fees.
Reference Index	The reference index (e.g., Treasury Yield, SOFR, or Swap Rate) used to calculate yield maintenance or defeasance costs.
Spread	The additional spread or margin added to the reference index to calculate the target yield for penalty or maintenance purposes.
Locked Reference Rate	The reference rate value fixed (“locked”) at the time of loan origination or refinance, used to calculate call protection cost or payoff amount.
Reference Rate Lock Date	The date on which the reference rate was locked for call protection or yield maintenance calculation purposes.
Calculation Method	Specifies how the call protection or yield maintenance penalty is calculated (e.g., Present Value of Interest Differential, Straight-Line, or Actual Yield Basis).
Yield Floor	Establishes the minimum yield percentage the lender must achieve when computing a yield maintenance prepayment penalty.
Replacement Security Type	For defeasance structures, defines the security or collateral type (e.g., U.S. Treasury, Agency Bond, Cash Equivalents) used to replicate loan cash flows post-defeasance.
Estimated Defeasance Cost	Estimated monetary cost of executing defeasance, including purchase of replacement securities and transaction fees.
Treasury Curve Source	Identifies the market source for Treasury yield data used in call protection calculations.
Agency Spread Override	Optional override spread applied to agency or secondary market rates when determining yield maintenance or defeasance cost.
Flat Defeasance Percentage	Defines a fixed defeasance penalty expressed as a flat percentage of the outstanding loan balance, used as an alternative to calculated yield maintenance.
Penalty Basis	Defines the calculation base for the penalty (e.g., Original Commitment, Outstanding Principal, or Prepaid Amount).
Defeasance Window End Date	The last date on which defeasance can be executed before maturity. Beyond this date, standard payoff terms apply.

Lockbox & Cash Management

Field Name	Definition
Lockbox Type	Specifies the type of lockbox arrangement established for managing borrower payments and cash flow controls. Options include: Hard Lockbox, Soft Lockbox, Springing Lockbox, or N/A.
Trigger DSCR Threshold	The Debt Service Coverage Ratio (DSCR) value that triggers activation of a springing lockbox or enhanced cash management controls. When actual DSCR falls below this threshold, funds are swept or restricted per loan agreement terms.
Trigger Start Date	The effective date on which lockbox trigger monitoring begins. Used to define when DSCR or performance covenants start applying to cash control logic.
Cash Management Type	Specifies the framework for managing project revenues, disbursements, and payment controls. Options include: Hard, Soft, Springing, and Other.
Cash Management Description	Provides narrative detail describing the specific mechanics, triggers, and participants of the cash management structure (e.g., trigger events, managing institution, disbursement approval workflow). Used to document customized or negotiated terms.

Risk & Credit Classification

Field Name	Definition
CM Rating	The Credit Management (CM) rating assigned to the funding source, representing its assessed credit quality or risk tier. Typically determined by internal credit models or external ratings.
NAIC CM Category	The National Association of Insurance Commissioners (NAIC) Credit Management (CM) category classification used for regulatory or investor reporting. Reflects the credit risk profile based on statutory guidance.
Source Impaired	Indicates whether the funding source has been classified as impaired due to credit deterioration, default, or valuation decline that impacts recoverability.
Estimated Fair Value	Represents the estimated market value of the funding source as of the most recent valuation date, based on discounted cash flows or observable market inputs.
Estimated Market Rate	The prevailing market interest rate that would apply to the funding source if originated or traded under current market conditions. Used for valuation and risk benchmarking.
Valuation Date	The date on which the funding source was last valued for fair value or mark-to-market purposes.
Estimated IRR	The estimated internal rate of return for the funding source, representing the expected annualized return based on projected cash flows and remaining term.
Estimated Yield to Maturity	The estimated yield if the loan or funding source is held to maturity, accounting for expected payments, fees, and any prepayment or extension assumptions.
Loss Assumption Type	Defines the modeling basis for estimating potential credit losses (e.g., percentage of balance, stressed valuation, or modeled default scenario).
Loss Assumption Value	The projected monetary amount of loss under the defined assumption type, based on credit stress testing or impairment analysis.
Loss Basis	Identifies the reference base used to calculate loss (e.g., original commitment, current balance, fair value).
Loss Timing	Defines the expected timing of loss realization (e.g., Immediate, Within 12 Months, Over Life of Loan). Used in portfolio stress modeling.
Loss Timing Date	A user-defined date specifying when loss realization is anticipated, applicable when “Custom Date” is selected under Loss Timing.

FAQ

What is a Funding Source?

A Funding Source is the vehicle used to provide financing for a Deal, which can be categorized as Debt, Equity, or Other.

What permissions are required to create a Funding Source?

Full access permission is required for Deal Management, including Portfolio Page & Deal Creation, Deal Details, Deal Overview, and Capital Stack.

What steps are involved in creating a Funding Source?

To create a Funding Source, click on Portfolio, select the Deal ID, navigate to Capital Stack, click + Add funding source, complete the required fields, and press 'Save'.

Can a Funding Source be marked as primary?

Yes, only one Funding Source in a Deal’s capital stack can be marked as 'primary'.

What is the purpose of the Capital Provider field?

The Capital Provider field identifies the organization that is providing the capital for the Funding Source.

Is it necessary to create a deal before creating a Funding Source?

Yes, a deal must be created before you can create a Funding Source.

What types of classifications can a Funding Source have?

A Funding Source can be classified as Debt, Equity, or Other.

What is the significance of the Lien Position in a Funding Source?

The Lien Position determines the ranking order of claims or rights that creditors or investors hold over an asset in the event of a default.

What information is captured in the Funding Source Form?

The Funding Source Form captures various details including Classification, Funding Source Type, Capital Provider, Name, Currency, Total Amount, and more.

Creating Funding Sources / Capital Stacks (CLA+ & APM)