Operion
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A credit committee at a table under a ring-shaped lamp, the canal at dusk beyond the window.

The CRM for lenders, from application to credit paper.

For credit teams at real estate and development lenders. Each application reaches your team with the work done and every figure traced to its page.

MailMonNorth Quay HoldingsOur loan application for North Quay Works, with the operating statement.Operating statement v1.pdf
North Quay WorksLeeds · Canal-side warehouseAssessment
Borrower's documents readOperating statement, accounts, valuation
Rent roll missingRequest drafted for your team
Credit model runInterest cover2.14x
Credit paper draftedWaiting for your reviewReview
MailMonNorth Quay HoldingsOur loan application for North Quay Works, with the operating statement.Operating statement v1.pdf
North Quay WorksLeeds · Canal-side warehouseAssessment
Borrower's documents readOperating statement, accounts, valuation
Rent roll missingRequest drafted for your team
Credit model runInterest cover2.14x
Credit paper draftedWaiting for your reviewReview

Your team sees every application on one pipeline.

Nobody has to ask where an application stands.

PipelineAll dealsFilterAMJCSP
DealStageOwnerLatestUpdated
Harbour PointScreeningJCJamie ChenResearch ready for review12m
North Quay WorksAssessmentAMAlex MorganDrafting the credit paperNow
Westfield StudiosDiligenceSPSam PatelLease request drafted2h
Mill Lane DepotScreeningJCJamie ChenResearch ready for review1h
Canal Street YardDiligenceSPSam PatelValuation request draftedMon
Foundry RowAssessmentAMAlex MorganCost plan request drafted4h
Ropewalk YardScreeningJCJamie ChenScreening note drafted38m
Dyehouse LaneDiligenceSPSam PatelTitle request draftedFri
Weaver's CourtCommitteeAMAlex MorganCredit paper ready for committeeYesterday

Operion gets each application ready for first credit review.

  1. 1

    Reads the borrower's documents

    It adds each figure from the operating statement, the accounts and the valuation to the deal, linked to the page it came from.
  2. 2

    Finds what is missing

    It checks the deal against your conditions checklist and drafts a request for each gap, such as the rent roll, for your team to send. What it cannot source stays open as a question.
  3. 3

    Runs your credit model

    It uses your formulas and the deal's figures. When a revised operating statement arrives, it reruns the model and keeps each old figure beside the new one.
  4. 4

    Drafts the credit paper

    It follows your template and cites each figure's source. After a rerun, it redrafts the sections the change touches and waits for your review.
Documents/North Quay WorksRead, 7 pages
Operating statement v1.pdf3 / 7Fit width
North Quay HoldingsNorth Quay Works, Leeds

Operating statement

For the year ended 30 June 2026

2026GBP2025GBP
Income
Gross rental income1,164,6001,131,300
Service charge recoveries96,25091,640
Other income18,38517,220
Vacancy and credit loss(79,345)(76,410)
Effective gross income1,199,8901,163,750
Operating expenses
Service charge costs(148,120)(141,280)
Repairs and maintenance(61,870)(54,690)
Insurance(41,300)(38,150)
Management fees(48,600)(46,200)
Total operating expenses(299,890)(280,320)
Net operating income900,000883,430

Notes

Gross rental income is rent due under leases in force.

Vacancy and credit loss is empty units and unpaid rent.

Unaudited.

Page 3 of 7

Read from page 3
Net operating incomeGBP 900,000
Period
Year ended 30 June 2026
Record
North Quay Works, Overview
Row
Net operating income
Used in
Interest cover, 2.14x

Also read from page 3

Effective gross income1,199,890
Total operating expenses(299,890)

Reads the borrower's documents

It adds each figure from the operating statement, the accounts and the valuation to the deal, linked to the page it came from.

Documents/North Quay WorksRead, 7 pages
Operating statement v1.pdf3 / 7Fit width
North Quay HoldingsNorth Quay Works, Leeds

Operating statement

For the year ended 30 June 2026

2026GBP2025GBP
Income
Gross rental income1,164,6001,131,300
Service charge recoveries96,25091,640
Other income18,38517,220
Vacancy and credit loss(79,345)(76,410)
Effective gross income1,199,8901,163,750
Operating expenses
Service charge costs(148,120)(141,280)
Repairs and maintenance(61,870)(54,690)
Insurance(41,300)(38,150)
Management fees(48,600)(46,200)
Total operating expenses(299,890)(280,320)
Net operating income900,000883,430

Notes

Gross rental income is rent due under leases in force.

Vacancy and credit loss is empty units and unpaid rent.

Unaudited.

Page 3 of 7

Read from page 3
Net operating incomeGBP 900,000
Period
Year ended 30 June 2026
Record
North Quay Works, Overview
Row
Net operating income
Used in
Interest cover, 2.14x

Also read from page 3

Effective gross income1,199,890
Total operating expenses(299,890)

Finds what is missing

It checks the deal against your conditions checklist and drafts a request for each gap, such as the rent roll, for your team to send. What it cannot source stays open as a question.

Up next/North Quay Works/Current rent rollReminder drafted
Conditions checklist3 of 4

Before first credit review

Operating statementOperating statement v1.pdfReceived
AccountsFrom the borrowerReceived
ValuationFrom the appraiserReceived
Current rent rollAsked on Tuesday, reminder draftedOutstanding

Open questions

Has the borrower, or any of its directors, been in administration?Not yet sourcedOpen
Has the change of use been granted?Not yet sourcedOpen
ReminderNot sent
ToClare Hollis, North Quay Holdings
SubjectRe: Current rent roll, North Quay Works

Dear Clare,

I'm following up on my email of 29 September. Could you send the current rent roll for North Quay Works? It is the one document we still need before first credit review.

Thank you,
Alex Morgan

ReviewDrafted by Operion
AMAlex Morgan to Clare HollisTue
Could you send the current rent roll for North Quay Works? We need it before first credit review.

Runs your credit model

It uses your formulas and the deal's figures. When a revised operating statement arrives, it reruns the model and keeps each old figure beside the new one.

Models/Credit model/North Quay WorksRerun, 5 cells changed
Operating statement v2.pdf, added by Alex Morgan2m
Net operating income900,000840,000
Interest, GBP 6,000,000 at 7%420,000420,000
Interest cover2.14x2.00x
Equity cash flow, years 1 to 4480,000420,000
Year 5, with the sale6,480,0006,420,000
Sponsor IRR18.87%17.55%

Drafts the credit paper

It follows your template and cites each figure's source. After a rerun, it redrafts the sections the change touches and waits for your review.

For review/North Quay WorksRedrafted
North Quay Works credit paper.docx2 / 6Fit width

North Quay Works · Credit paper · Draft for committee

3. The loan

A loan of GBP 6,000,000 to North Quay Holdings towards the GBP 10,000,000 cost of North Quay Works, a canal-side warehouse in Leeds, at 60% loan-to-cost.

The loan is interest-only at 7%, or GBP 420,000 a year. The principal is repaid from the sale in year 5.

4. Income and cover

On net operating income of GBP 900,000, interest cover is 2.14x. The loan is supportable, subject to the current rent roll. On the revised income of GBP 840,000, interest cover falls to 2.00x. The loan remains supportable, subject to the current rent roll and the borrower's explanation of the GBP 60,000 fall.

Redrafted by Operion on the revised income

5. Conditions

Before drawdown: the current rent roll, requested from North Quay Holdings on 29 September 2026 and still outstanding, and the borrower's explanation of the GBP 60,000 fall in income.

Open questions: whether the borrower or any of its directors has been in administration and whether the change of use has been granted.

Revised operating statement, page 3

Page 2 of 6

Section 4Needs review

Redrafted by Operion on the revised income

Sources

Operating statement v2.pdf, page 3

Credit model, cell C3=C1/C2

ReviewWaiting for Alex Morgan

Activity

AMAlex Morgan added the revised statementOperating statement v2.pdf2m
Operion reran the credit model5 cells changed1m
Operion redrafted section 4Waiting for reviewNow
Settings/DataAM
DataWhere your deal data is kept

Region

Data residencyWhere your team is basedEU

Your data stays in your region: the EU or the US.

Security
Settings/BillingAM
SeatsOperion plan
People who run dealsPaid seats5
Everyone elseReads, reviews or approvesFree

$2,000 a month for your team.

Pricing

Questions credit teams ask.

A records room: shelves of archive boxes around one long table.

  • No. Operion drafts; your team and your credit committee decide.

  • Yes. Your Operion lead sets up both in week one, with your conditions checklist. Then we check Operion's figures against your spreadsheet with you.

    How it fits

  • You would see it at the source. Every figure links to the page it came from, and every draft waits for your review.

    Product

  • No. Operion drafts the requests and the reminders. Your team reviews them and sends them.

  • You can. Your CRM keeps your relationships, and each deal's documents and work live in Operion. Or your Operion lead moves your pipeline across.

    How it fits
North Quay Works at night, every window dark.

See Operion run a deal.

On a call, we take an application from the borrower's documents to a draft credit paper.

Book a working demo