A lending infrastructure that uses verified physical assets — recycled plastic tonnage, dPRN holdings, and Truth Ledger records — as collateral for sovereign loans. Capital without banks.
| Asset Type | ABL Value | Verification Method | LTV |
|---|---|---|---|
| dPRN (verified tonne) | £450/tonne sovereign price | Truth Ledger + NFC/GPS | Up to 70% |
| Recycled Pellet Inventory | Market rate + verification premium | Vand en Recycling receipts | Up to 60% |
| BLUE SOIL Tokens | Exchange price | Exchange ledger | Up to 50% |
| ROSCA Pool Share | Contribution history value | Truth Ledger ROSCA records | Up to 80% |
| Collateral Type | Valuation Basis | Lending Ratio | Document Reference |
|---|---|---|---|
| dPRN Portfolio | £450/tonne × token count | 70% LTV | MD-48 (Verification & DPN) |
| Revenue Stream Rights | Projected annual revenue × 5 | 50% LTV | MD-40 (Revenue Master) |
| Entity Equity | Entity valuation per tier | 60% LTV | MD-87 (39-Entity Architecture) |
| IP Portfolio (IPN Data) | 1,710+ SCPs valued | 40% LTV | IPN Data Ltd entity charter |
| Section 59 Permit | 50-year regulatory asset | 30% LTV | MD-88 (EPR Dominance) |
Asset Backed Lending is how the sovereign system breaks the dependency on traditional credit. Traditional lending asks: what is your credit score? What is your salary? Who do you know at the bank? The sovereign ABL framework asks one question: what do you have on the Truth Ledger? If you have verified dPRNs, recycled pellet inventory, or ROSCA participation history recorded immutably — you have collateral. That collateral unlocks capital.
The 70% LTV on dPRN is deliberately conservative. At £450/tonne, a single verified tonne gives the holder access to £315 in lending capacity. Ten tonnes means £3,150. A hundred tonnes means £31,500. For small recycling operators who have historically struggled to access working capital, this is transformative. The physical waste they collect every day becomes their bank balance.
The most significant long-term implication of ABL is what it does to the incentive structure for waste collection. If collectors know that every tonne they verify is not just a sale but a bankable asset, their motivation to participate in the sovereign verification system increases dramatically. The NFC tap is no longer just a compliance step — it is a banking transaction. This is how the circular economy finances itself from within.