How to add an advance in Carta Loan Ops
What is an advance?
Each advance represents a borrower drawing against their credit facility. Advances have their own draw date, amount, and rate settings, and each generates its own set of payment obligations in the payment schedule. A single loan can have multiple advances under the same structure.
How to add an advance to an existing loan
From the loan record, select the relevant Structure to open the Structure Detail view.
In the Advances table, select Add Advance.
Enter the effective date (the disbursement date). The advance name auto-generates from the date but can be edited.
Enter lender participation amounts and the principal repayment schedule. New advances pre-fill with the same lender list as existing advances on the structure.
Define rate periods, including effective date, benchmark rate, credit spread, and optional PIK rate. Defaults to copy settings from the most recent advance.
Add any advance-specific fees (optional).
Record any secondary participant lenders (optional).
Set any early-repayment penalties by date range (optional).
Generate the funding notice to the borrower and lenders.
Confirm the summary and select Save.
The payment schedule updates automatically to reflect the new advance and its obligations.
After saving, the advance appears in the Overview tab under Advances with its draw date and disbursed amount. New payment obligations appear in the payment schedule based on the advance amount, draw date, and rate. If the loan has co-lenders, payment obligations are split according to lender agreements.