Know your covenant headroom before your lender does
CovenantGuard connects to QuickBooks Online and monitors your loan covenants every period — DSCR, leverage, fixed-charge coverage, liquidity and capex. It flags the ones drifting toward a breach and projects forward, so a covenant problem is never a surprise on the compliance certificate.
Northwind Manufacturing, Inc.
Covenant compliance · Q1 2026 · certificate due 2026-04-30
A covenant breach is a technical default — even when you can pay
Miss a DSCR or leverage test and your lender can reprice the facility, sweep cash, demand a waiver, or call the loan — regardless of whether you actually missed a payment. The teams that stay in control are the ones that see the drift two or three quarters out, not the night before the certificate is signed.
Most covenants are only checked when the certificate is due — far too late to react.
Hand-built ratio models drift from the books and break the moment someone edits a cell.
One missed test can trigger repricing, cash sweeps, or acceleration of the whole facility.
Connect QuickBooks, map your agreement, watch every covenant
Connect QuickBooks
Read-only OAuth. CovenantGuard pulls your P&L, balance sheet and supporting reports — it never writes back.
Map your agreement
Enter the covenants from your credit agreement — thresholds, test frequency, and exactly how EBITDA is built and added back.
Monitor every period
Each ratio is recomputed from your live books, with headroom and a pass / watch / breach status against your thresholds.
Get ahead of the breach
Drift toward a threshold raises a watch alert, and the projection shows the quarter a breach lands — before the certificate is due.
The covenants your credit agreement actually tests
Debt Service Coverage (DSCR)
Cash available to service debt, after taxes and unfinanced capex.
Total Leverage
Funded debt measured against trailing EBITDA.
Fixed-Charge Coverage (FCCR)
Earnings cover debt service plus rent and other fixed charges.
Minimum Liquidity
Unrestricted cash plus undrawn revolver availability.
Maximum Capex
Trailing capital expenditure against the annual ceiling.
Custom covenants
Define your own thresholds, test frequency and EBITDA build to match any credit agreement.
Frequently asked questions
What exactly does CovenantGuard compute?
DSCR, total leverage, fixed-charge coverage (FCCR), minimum liquidity and maximum capex — the standard middle-market package — plus any custom covenant you define. EBITDA is built to your agreement: choose the starting line and which add-backs apply. Every result is shown with its headroom and a pass / watch / breach status.
Does it write anything back to QuickBooks?
No. CovenantGuard requests read-only access. We pull the P&L, balance sheet and the reports needed to derive each ratio. Your books are never modified.
Some inputs aren't in QuickBooks — like cash taxes or the debt-service schedule.
Right. Items that don't exist in QBO — scheduled principal and interest, the financed/unfinanced capex split, revolver availability, cash taxes — are entered once and carried forward. Everything else is resolved automatically from your books.
How does the projection work?
From your latest trailing-twelve-month position we grow EBITDA by your assumption, amortize debt on the scheduled principal, and recompute each covenant forward. It surfaces the first quarter any covenant is projected to breach — a transparent modeling aid, not a forecast guarantee.
Is there a free plan? How much does it cost?
There's no perpetual free tier — but every plan starts with a 14-day free trial, no credit card required, and the live demo is always free to explore. Pricing is the unified TechForCFO model: Starter at $49/mo for any one tool (CovenantGuard included), Suite at $199/mo for all 11 tools and up to 3 entities, or add a dedicated bookkeeper from $549/mo. See the pricing page for details.
Is my financial data secure?
OAuth tokens are encrypted at rest with AES-256-GCM and rotated on every refresh. All data is isolated per user with Postgres row-level security. You can disconnect and purge at any time.
Never be surprised by a covenant again
Connect QuickBooks Online and see your covenant headroom in minutes. No credit card to start.
Start 14-day trial