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 secured 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.
Our Experience
Our professionals provide field examination services for many of the largest financial institutions in the country.
The Leadership Team has over 65 years of combined lender services experience.
Approximately 20 Sisterson personnel are experienced in providing field examination services.
Accounts receivable verifications, analyses of sales dilution, concentrations, cross-agings, contra accounts, agings, and identification of ineligible receivables
Review credit and collection procedures
Inventory test counts, cost testing, analyses of mix, turnover, obsolescence, ineligible items and gross margins
Review of cash account reconciliations, lockbox procedures, and proofs of cash
Review of insurance coverage and loss payees
Review of trade payable agings, vendor concentrations and loans to officers or employees
Verification that payroll and other trust fund taxes are current and inquiries as to status of state, local and federal returns
Analysis of financial trends and ratios, and reviews of reconciliations of key accounts
Reviews of Borrowing Base Certificates prepared by the borrower and comparisons to independent calculations of collateral availability base
Field examinations to meet export/import requirements
Financial due diligence and quality of earnings analyses regarding borrowers
Forensic investigations
After completing a field examination, we can provide asset-based lenders with recommendations regarding advance rates and collateral eligibility and our detailed report summarizing our procedures and findings.