Field Exams for Secured Lenders

Field Exams for Secured Lenders

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 for cash flow based loans
  • 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.

Field Exam Practice

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