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.
After 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.