Neocloud Credit Score
Score a GPU cloud borrower, from 0 to 100.
What it scores
For lenders sizing a loan to a GPU cloud. Contracted revenue is 50% of the score: a signed contract, direct with the end customer or through a broker on back-to-back terms, with a creditworthy offtaker. Equity is 30% and execution 20%. The score then sizes the debt each tier supports.
The quickest check: a signed contract and 30%+ of the cost in cash. Without a contract, lenders want 50% in and company funding of 1.5x the cost.
Pick a borrower below and change the deal to see what moves the score.
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Neocloud Credit Score, First cluster, LOI
54/ 100 · ACN-4 Weak
16 B300 servers ($9.7M), an LOI from a funded startup, 30% cash in
- Debt supported
- $4.8M
- DSCR
- 1.53x
- Advance
- Up to 50%
By pillar
- Contracted revenue
- 27.4 / 50
- Equity
- 20.0 / 30
- Execution
- 6.4 / 20
Get the full model as a spreadsheet
Every factor with live formulas, debt sizing by tier, and sensitivity to price, utilization and resale value.
All borrowers are hypothetical, priced with B300 servers at $605K including networking.
How the debt is sized
Each tier sets an advance rate and a minimum debt service coverage. The debt supported is the lower of the advance on the equipment cost and the loan the contracted cash flow repays at that coverage.
Without a contract there is no cash flow to size against, so lenders lend on the advance alone and ask for more cash in.
Five tiers
| Tier | Score | Advance | Minimum coverage | Rate |
|---|---|---|---|---|
| ACN-1 Prime | 85-100 | Up to 80% | 1.20x | About 8% |
| ACN-2 Strong | 70-84 | Up to 75% | 1.30x | About 10% |
| ACN-3 Acceptable | 55-69 | Up to 65% | 1.40x | About 12% |
| ACN-4 Weak | 40-54 | Up to 50% | 1.50x | About 14% |
| ACN-5 Speculative | 0-39 | None | - | - |
Three pillars, 100 points
- Contracted revenue (50)
- The contract repays the loan: who signed it, direct or back-to-back, for how long, with what cash up front, and whether it covers debt service.
- Equity (30)
- How much of the borrower’s own money is at risk first, the cash left after closing, and who stands behind the loan.
- Execution (20)
- Whether the team can deliver and run the cluster: track record, site, power, insurance, reporting and concentration.
What caps the score
| When | Best possible tier |
|---|---|
| A missed loan or lease payment, or a lien dispute, in the last 24 months | ACN-5 |
| Offtake in negotiation, nothing signed | ACN-5 |
| No offtake, and under 50% cash in or under 1.5x the cost in company capital | ACN-5 |
| LOI or term sheet only | ACN-4 |
| No offtake, with 50%+ cash in and 1.5x+ capital | ACN-4 |
| Through a broker, not back-to-back | ACN-4 |
| Contracted cash flow below debt service (DSCR under 1.0x) | ACN-4 |
| No colocation or power secured | ACN-4 |
| No property insurance quoted or bound | ACN-3 |
| Under 20% cash in | ACN-3 |
| Offtaker at AC-4 or AC-5 with under 10% of the contract paid up front | ACN-3 |
Examples
| Borrower | Deal | Score | Debt supported |
|---|---|---|---|
| First cluster, LOI | 16 B300 servers ($9.7M), an LOI from a funded startup, 30% cash in | 54, ACN-4 Weak | $4.8M |
| First cluster, signed | The same deal with a 3-year take-or-pay, 10% paid up front | 70, ACN-2 Strong | $7.3M |
| Former bitcoin miner | 32 B300 servers on its own powered site, 3-year take-or-pay through a broker, back-to-back | 72, ACN-2 Strong | $14.5M |
| Operator, two sites | 64 B300 servers, 4 years running GPUs, 3-year take-or-pay with an AI lab | 84, ACN-2 Strong | $29.0M |
| No contract | 16 B300 servers sold on demand, 50% cash in, 1.5x the cost raised | 42, ACN-4 Weak | $4.8M |
Discuss a transaction
Send us the borrower, the contract and the equipment list. We will come back with a score and the questions we would need answered.
Prefer email? hello@amcompute.com