Before revision: We derive a  semi-analytic  solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender is allowed to liquidate when the stock drops to a sufficiently low price. To do so, we extend a result of N. Cai et al. regarding the generalized Laplace transform of the first passage time of the HEM to two flat barriers, which is of independent interest .
After revision: We derive a semi-analytic solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender forces liquidation when the loan-to-collateral ratio drops beneath a certain threshold. We use this to study the sensitivity of the contract to model parameters .