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Download Line of Credit Tracker Excel Template

Are a small business owner or small-time lender wanting to track a line of credit? If you have tried our other line of credit calculator. You will find that it is design for estimating costs is fairly general assumptions about when payments and draws are made. Our new Line of Credit Tracker below is design particularly for tracking when payments, draws, and changes in interest rate occur.

Line of credit tracker excel

This line of credit tracker is use to track payments and draws a line of credit that accrues interest daily on the current principal balance.

BETA Version: This spreadsheet can be considered a “beta” version as it has not yet been used enough to guarantee that it is free of errors.

Note to Lenders: If you are using this spreadsheet to service an account that you are offering a client, make sure that the calculations and assumptions match what you have specified in your contract.

Estimating an Interest Reserve:

1. Enter the planned or actual disbursements by including the dates and draw amounts.

2. If your line of credit transitions to a loan at any date, enter the date the loan converts to a standard loan.

3. The Total Interest Accrued amount would then be an estimate of what you need in an Interest Reserve account.

What to do when the interest rate changes:

Any time the interest rate changes, you should enter the date and also a 0 payment. This will update the accrued interest and consequently calculations will use the new rate.

Assumptions built into this spreadsheet

  • Interest accrues on a daily basis, like other lines of credit. The Days in Year value should be 365 or 360 depends on how the lender calculates “per diem” interest.
  • Interest are calculated using the simple interest formula will not add to the principal balance. The Total Owned is the Principal Balance plus the Unpaid Interest Balance.
  • Payments can apply at the end of the previous day. A payment is applicable FIRST to the Interest Accrued and Interest Balance, and then to the Principal.
  • The Interest Accrued amount is round to the nearest cent.
  • Interest is charge on a Draw on the day it is prepared.
  • Principal-Only payments is stimulate by entering a negative draw amount.

How to Use this Line of Credit Tracker Excel template

Our editable Excel templates for data analysis are easy to use and can save you a significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

In summary, our editable Excel templates for data analysis are easy to use and can save you a significant amount of time and effort. Simply, download the template, replace sample data with your actual data, customize it as per your requirement, use it for data analysis, and save or share it with others as needed. With our templates, you can quickly and easily analyze your data and make informed business decisions.

Click Download Button To Get Line of Credit Tracker Excel Template

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