Lender Services

At Sisterson, we perform field examinations for new and existing loans for various regional and national financial institutions. We can provide the quick turnaround required by lenders while providing a thorough and impartial analysis of asset quality. We understand the issues that concern asset-based lenders and work with them to develop a program of field examination procedures, which can involve using a lender’s proprietary program or programs we have developed.
Some examples of our field examination procedures include:

• Accounts receivable account verification, analyses of sales dilution, concentrations, cross-agings, contra accounts, agings, and identify ineligible items
• Review credit and collection procedures
• Inventory test counts, cost testing, analyses of mix, turnover, obsolescence, identify ineligible items and gross margins
• Cash review of account reconciliations, lockbox procedures,
  proofs of cash
• Insurance review of coverage to ensure bank is loss payee.
• Review trade payable agings, loans to officers or employees
• Verify that payroll and other trust fund taxes are current and inquire as to status of state, local and federal returns
• Financial books and records reconcile ledgers to financial statements, review general ledger for unusual items, complete ratio analysis
• Review the Borrowing Base Certificate prepared by the borrower and prepare an independent calculation of collateral availability

After completing a field examination, we can provide asset-based lenders with recommendations regarding advance rates and our detailed report summarizing the procedures we performed.