Neocloud business plan calculator
What one GPU cluster earns a month, whether it covers its loan, and how much cash you need before the first invoice.
The cluster
Revenue
Costs
Financing
Fine-tune
EBITDA, first full month, 16 B300 servers
$384K a month
82% margin on $469K of revenue
- DSCR (contract only)
- 1.70x (0.96x)
- Cash before first revenue
- $4.66M
- Payback on cash in
- Month 37
One month, after the ramp
Revenue
$469K
Colocation
-$69K
Staff, other
-$15K
Loan payment
-$226K
Left over
$158K
The contract alone does not cover the payment (0.96x). On-demand sales carry the loan, and a lender will discount them heavily.
Year by year
| Year | Revenue | EBITDA | Debt service | DSCR | Cash after debt |
|---|---|---|---|---|---|
| 1 | $4.22M | $3.20M | $2.71M | 1.18x | $493K |
| 2 | $5.42M | $4.41M | $2.71M | 1.63x | $1.70M |
| 3 | $5.24M | $4.23M | $2.71M | 1.56x | $1.52M |
See every line
The cluster
- 16 B300 servers (128 GPUs)
- $8.80M
- Networking
- $880K
- All-in cost, with shipping
- $9.72M
- Power
- 248.0 kW
At closing
- Your equity (30%)
- $2.92M
- Loan
- $6.80M
- Fee (2%)
- $136K
- Debt service reserve (3 months, returned)
- $678K
- Cash at closing
- $3.73M
- Costs and payments for 3 months before revenue
- $931K
- Cash before first revenue
- $4.66M
First full month (month 4)
- Contract: 90 GPUs at $4.60
- $302K
- On demand: 38 GPUs at $7.50, 80% billed
- $166K
- Revenue
- $469K
- Colocation at $280/kW
- $69K
- Staff and other costs
- $15K
- EBITDA
- $384K
- EBITDA margin
- 82%
- Interest
- $63K
- Principal
- $163K
- Cash after debt service
- $158K
At exit (end of the loan, 2029)
- Servers, conservative band (28-39%)
- $2.46M-$3.43M
- Servers, moderate band (39-54%)
- $3.43M-$4.75M
- Money back over money in
- 1.77x
- IRR on your cash
- 32%
Illustrative, not a quote. Ballpark prices as of October 2026, before taxes.
What a lender will ask
- Gap
Does contracted revenue cover the loan payment?
0.96x on contract revenue alone (1.70x with on-demand).
1.50x minimum for this customer. Lenders discount on-demand revenue heavily.
- Ready
How much of the cluster is under contract?
70% of GPUs (90 of 128).
60-70% is the floor lenders treat as financeable.
- Ready
Does the contract run as long as the loan?
Yes: 36 months against a 36-month loan.
Lenders repay the loan over the firm contract term.
- Expect questions
How much cash are you putting in?
30% of the cost (70% loan-to-value).
30% minimum in the program; lenders advance up to about 50% against this customer.
- Expect questions
Can you carry the cluster until it earns?
3 months of debt service in reserve; 3 months of costs and payments before first revenue.
Six months of costs and debt service in cash. Loan proceeds pay for hardware only.
- Gap
How much rides on one customer?
64% of first-year revenue from the contract customer.
Above 40% from one customer is a yellow flag unless it is a strong credit.
- Ready
What is the weakest month?
1.56x in month 25.
Below 1.0x, the payment comes from your cash or the reserve.
What limits the deal
- LOI or term sheet only. Caps a lender's rating at AC-4 (Weak) on a 1-5 scale.
- Contracted cash flow below debt service (DSCR under 1.0x). Caps a lender's rating at AC-4 (Weak) on a 1-5 scale.
- Offtaker at AC-4 or AC-5 with under 10% of the contract paid up front. Caps a lender's rating at AC-3 (Acceptable) on a 1-5 scale.
What to bring them
- 1.Turn the LOI into a signed take-or-pay contract. A fixed monthly fee whether the GPUs are used or not, for the full term, assignable to the lender’s SPV. (weeks)
- 2.Put in 10 more points of equity. From investors, or from the offtaker as strategic equity in exchange for reserved capacity. (months)
- 3.Get 20% of the contract paid up front, or a letter of credit. Microsoft prepays IREN 20% of each tranche before delivery. A deposit or LC is cash the lender can count on day one. (weeks)
- 4.Hold six months of costs and debt service in cash. Loan proceeds pay for hardware only. Interest, rent and power before first revenue come from your cash. (months)
Pre-fills the application with this plan.
Two minutes to find out if you qualify.
- Your financing application link, straight away
- A 20-minute onboarding call
- A straight answer if it’s not a fit for the program
Prefer email? hello@amcompute.com
Neocloud business plan questions
- How much does it cost to start a neocloud?
- For 16 B300 servers (128 GPUs), about $9.72M with networking and shipping, at October 2026 ballpark prices. With a 70% loan you need about $4.66M in cash before the first invoice: your equity, the closing fee, a 3-month debt service reserve, and 3 months of colocation, staff and loan payments.
- What DSCR do lenders want from a neocloud?
- Usually 1.20x to 1.50x, counted on contracted revenue: the stronger the customer and the operator, the lower the bar. On-demand revenue is discounted heavily, so a plan can show 1.70x overall and 0.96x on the contract alone.