🍔 Delivery Platform backed Restaurant Credit

Here is a comprehensive description of the loan structure that services restaurants registered to a delivery platform, with all references to the specific company (CLIENT) anonymized.

Key Components and Actors:

• CLIENT:
  A financial service provider offering loans to restaurants registered on a delivery platform. The CLIENT facilitates the entire lending process, including pre-approval, credit analysis, and loan disbursement.
• Restaurants (Borrowers):
  Small and medium-sized businesses (SMBs), typically restaurants, registered on the delivery platform, applying for loans.
• Securitizadora:
  Responsible for issuing certificates of receivables (CRs) which are tokenized and offered to investors.
• Investidor (Investor):
  Provides the capital by purchasing tokenized CRs issued based on the loans provided to the restaurants.
• Delivery Platform:
  Acts as an intermediary that helps manage receivables and facilitates the repayment process through retained earnings from the restaurant’s sales.
• Smart Contract:
  Automates the process of loan issuance, repayment tracking, and operational reporting.
• Escrow Accounts:
  Used for disbursing funds to the restaurants and receiving repayments from the delivery platform.

Process Workflow:

• Pre-Approval of Loan Offers:
  CLIENT performs a pre-approval process where offers are shared with potential borrowers (restaurants). The offers are based on a credit analysis that considers data from credit bureaus and financial records of the restaurants. After the analysis, the CLIENT defines the loan conditions (limit, interest rate, and terms) and shares these with the borrowers through the delivery platform【32†source】【33†source】.
• Customer Activation and Application:
  The restaurant receives a pre-approved offer and can choose to activate the offer by applying for the loan. The restaurant's data is enriched with additional financial and operational information to improve the accuracy of the credit analysis. The restaurant then reviews the loan terms and accepts the offer by simulating the loan amount and terms through the platform【32†source】【33†source】.
• Issuance of CCB and Securitization:
  Once the offer is accepted, a CCB (Cédula de Crédito Bancário) is generated and signed by the restaurant. The CCB details are transmitted to BRX, which creates the operation within its systems. The CCB is endorsed to the securitizadora, which tokenizes the receivable as a CR. These CRs are then sold to investors who provide the liquidity for the loan【32†source】【33†source】.
• Disbursement of Loan Funds:
  The loan amount is transferred from an escrow account to the external bank account of the restaurant. The funds are managed through dedicated accounts to ensure proper allocation and transparency. The entire disbursement process is automated via the smart contract, which tracks the funds' movement and records the operation on-chain【32†source】【33†source】.
• Receivables Retention and Repayment:
  Repayment is facilitated through the delivery platform. The platform retains a portion of the restaurant’s earnings from their sales to cover loan repayments. These retained amounts are transferred to a collection account managed by the CLIENT. If the platform does not have receivables retention enabled, a bank slip (boleto) is issued to the restaurant to make the repayment manually【33†source】.
• Reconciliation and Reporting:
  The delivery platform regularly transfers the retained receivables to the collection account. The CLIENT reconciles these payments and updates the loan repayment schedule accordingly. A detailed repayment report is sent to BRX, which processes the information and updates the loan’s status within the system. This process is fully automated through the smart contract, ensuring that all data is accurate and up to date【33†source】.
• Endorsement and Settlement:
  As repayments are collected, the investor receives their returns based on the loan performance. If the loan is fully paid, the operation is closed, and the endorsement term is executed by the securitizadora. Fees such as origination fees, IOF (tax on financial operations), and transaction costs are handled during the disbursement and repayment process, ensuring that all financial obligations are met【33†source】.

Risk Mitigation:

• Credit Analysis:
  CLIENT conducts a thorough credit analysis using enriched data from various sources to assess the restaurant's creditworthiness before issuing the loan.
• Receivables Retention:
  The delivery platform retains earnings from the restaurant’s sales to ensure timely repayment of the loan, reducing the risk of default. Smart Contract Automation: The smart contract enforces loan terms, tracks payments, and automatically reconciles repayments, minimizing errors and improving operational efficiency.
• Escrow Accounts:
  The use of dedicated and escrow accounts for disbursement and repayment ensures that funds are managed securely and transparently, reducing the risk of misallocation.

Summary:

This loan structure is designed to service restaurants registered on a delivery platform by providing them with access to credit based on their operational performance. CLIENT facilitates the loan process from pre-approval to repayment, while investors fund the loans by purchasing tokenized CRs. The smart contract ensures automated and transparent management of the loans, while receivables retention by the delivery platform helps mitigate repayment risk. The structure leverages the flow of funds from the restaurants’ sales to ensure secure and efficient repayment of the loans.