For MCA and small-business lenders
Know who's pulling before you fund.
Upload a merchant's bank statements and get true revenue, every existing advance and loan, negative days, NSFs and average daily balance, each traced to its transactions.
First 10 statements free. No card.
Fernhill Bank
Business checking ····2210
Page 2 of 6
Continued on page 3
Read as
Week of Aug 3
Taken out of revenue
What you get
What you check before you fund
MCA stacking detection
Every existing advance and loan by funder, with its payment, cadence and monthly total.
Debt-to-revenue
Existing debt payments as a share of true revenue, so you see the room left before you fund.
True revenue
Transfers, owner deposits, loan proceeds and returns taken out of gross deposits.
Line-item labels
Every transaction labelled, from processor deposits to MCA debits and NSFs. Relabel in bulk and every figure recalculates.
Also in every file
- Negative days, NSFs and daily balanceCounted month by month and across the file, with the lowest and average daily balance and a day-by-day balance calendar.
- Signs a statement was editedEvery PDF's metadata is checked on upload and every statement is checked against its printed balances, so an edited file is flagged before you fund.
One file, marked up
What Underly marks before you fund
Fernhill Bank, August 2026
Business checking ····2210
| Date | Description | Amount | Balance |
|---|---|---|---|
| 1Aug 3 | KESTREL RIDGE CAP MERCH DEBIT | −289.00 | 18,402.11 |
| 1Aug 3 | OMBREL FUNDING PAYMENT 0082 | −1,150.00 | 17,252.11 |
| Aug 3 | MERCHANT DEPOSIT BATCH 0193 | 3,412.55 | 20,664.66 |
| 1Aug 4 | KESTREL RIDGE CAP MERCH DEBIT | −289.00 | 20,375.66 |
| 2Aug 4 | ONLINE TRANSFER FROM CHK 5520 | 5,400.00 | 25,775.66 |
| Aug 4 | HARBOR MILL FLOUR ACH | −2,184.20 | 23,591.46 |
| 1Aug 5 | KESTREL RIDGE CAP MERCH DEBIT | −289.00 | 23,302.46 |
| 2Aug 5 | ZELLE FROM M COPPER | 5,000.00 | 28,302.46 |
| 38 more lines, Aug 6 to Aug 26 | |||
| 1Aug 27 | KESTREL RIDGE CAP MERCH DEBIT | −289.00 | 27,180.46 |
| Aug 27 | MERCHANT DEPOSIT BATCH 0231 | 4,108.30 | 31,288.76 |
| 1Aug 28 | KESTREL RIDGE CAP MERCH DEBIT | −289.00 | 30,999.76 |
| 3Aug 28 | DEPOSITED ITEM RETURNED | −531.00 | 30,468.76 |
1Two advances already pulling
Kestrel Ridge Capital daily and Ombrel Funding weekly, 13.7% of August true revenue between them.
2$10,400.00 out of revenue
The transfer from the merchant's other account and the owner's Zelle don't count as sales.
3A returned deposit
Counted as an NSF return, month by month and across the file.
How it works
From statements to a funding decision
- 1
Upload the statements
PDF, CSV or Excel from any bank. Several accounts and months go into one analysis.
- 2
Review the read
Positions, true revenue and cash-flow figures, each opening the transactions behind it.
- 3
Decide and export
Save an offer, then download the Excel workbook with every month, position and transaction.
Pricing
Try it free on your own statements
10 statements free, no card. Then from $149 a month, with every feature and your whole team.
Underly
$149/month
$1.49 a statement
- 100 statements a month
- Every feature
- Your whole team
Need more than 750 statements a month? Contact us
FAQ
Lender questions
How does it find existing positions?
Each debit is matched to its funder from the bank descriptor, then grouped by lender into a position with its payment amount, cadence, monthly total, first and last debit, and the funding deposit that opened it. MCAs, bank loans, leases, BNPL, factoring and debt collection are kept apart, so stacking shows at a glance.
How is true revenue calculated?
Gross deposits minus transfers between the merchant's own accounts, owner deposits, loan and advance proceeds, reversals and returned items. Each exclusion is listed as its own line with its transactions.
Which cash-flow figures does it report?
Average daily balance, lowest balance, negative days, NSF returns and stop payments, month by month and across the file, plus debt-to-revenue from the existing positions.
Does it score the merchant?
No. It shows what the statements say, line by line, and leaves the decision to you.
Which statements can it read?
PDF, CSV and Excel statements from any bank, up to 20 pages and 5 MB a file, in US dollars or pounds sterling.
Can the whole team use it?
Yes. Invite your underwriters to your organization as managers or analysts.
Run your next statements through Underly
The first 10 statements are free. No card.