working capital

The Borrowing-Base Question Behind Customer Concentration

Customer concentration is not automatically a problem. For lenders, the practical question is whether one large debtor could affect the borrower's cash flow, eligibility, or borrowing-base availability.

Banker Brief

Lender angle
Help lenders support borrower growth while keeping customer concentration tied to a clear collateral and liquidity review.
Credit issue
One customer may represent enough receivables to affect credit comfort, lender eligibility, or cash-flow planning.
Why it matters
The borrower may need that customer to keep growing, so the answer should be structure rather than a reflexive no.

Key Takeaways

  • Customer concentration often appears because the borrower won meaningful work.
  • The issue becomes practical when concentration limits availability or creates discomfort around open terms.
  • A focused review can turn a broad concern into a specific path.

Why this matters to lenders

A large customer relationship may be exactly what the borrower wanted. The lender does not need to treat concentration as failure. The question is whether the receivable structure is strong enough to support the size of the relationship.

The question is exposure, not alarm

If one debtor drives a large share of eligible AR, the lender is indirectly watching that debtor too. A practical review asks what happens to liquidity and availability if that customer slows payment, disputes invoices, crosses a cap, or files.

The takeaway

Concentration can be managed when the borrower and lender understand the peak balance, payment behavior, eligibility treatment, and available risk-transfer options. The review should preserve good growth while making the collateral question explicit.

What to Review With the Borrower

  • Top-customer share of AR and expected peak balances.
  • Whether concentration caps or eligibility rules constrain availability.
  • Whether payment history, disputes, or pending shipments change the exposure.
  • Whether customer limits are documented, monitored, or insured.
  • Whether terms, coverage, or a concentration plan would support the credit.

Next Steps

  1. Calculate top-customer share of AR for concentrated borrowers.
  2. Model how availability changes if the largest buyer slows, disputes, or becomes ineligible.
  3. Contact us to review their existing credit management process and key debtors to protect cash flow and borrowing-base availability.

Source Notes

Borrowing-base customer concentration review; TCIA receivables assessment framework