"Serving commercial lenders and their clients since 1984
Accounts Receivable/Notes WFA Accounts Receivable Exams typically cover a wide range of tests to ensure a good understanding of the condition and value of the accounts from the lenders point of view. We concentrate on those areas where lenders may be vulnerable to losses as a result of excess age, retention billing, offsets to payables, poor documentation, etc. Our field examiners have extensive experience in dealing with a variety of business types, giving us an advantage in getting to the core of potential problems. Typical tests performed include: Aging analysis, concentration of revenue, potential offsets, shipping documentation, trace ability to general ledger, proper application to the borrowing base and more. Our reports are "to the point" without being weighted down with unnecessary narrative.
Inventory Inventory Reviews are structured to concentrate on validity and value. Tests often include test counts compared to stated counts, condition and age of inventory, marketability, accessibility/security, cost confirmation, consignment/ownership and more. Our staff has extensive exposure to a wide range of inventory types as well as record keeping requirements. We understand the value characteristics of various inventories relative to the borrowing base.
Reports are structured for easy reading and include graphical representation of many tests.
WFA Group conducts equipment appraisals based on USPAP (Uniform Standards of Professional Appraisal Practice) standards and The American Society of Appraisers guidelines. We provide lenders with objective information on the value of assets pledged or held as collateral. Our appraisers have experience in a range of asset types including construction equipment, manufacturing/fabrication, restaurants, medical/technical, drilling equipment, printing/graphics, sound/video, computers and many more. Our appraisers conduct over 250 appraisals each year for as many as one hundred different lenders and their customers. Appraisals can be performed with or without inspection and may include analysis as Fair Market, Orderly Liquidation or Forced Sale Liquidation Values.
Monitoring and Special Services Lenders requiring more diligence throughout the term of the loan or through the first year may want to consider our "Collateral Monitoring Service". Key indicies are tracked from one period to the next and reported on as required. This service may be set-up as an on-site review periodically or can be based on information provided by the borrower. Each Monitoring Service is custom configured to the lender's requirements.
WFA also provides other special services ranging from Floor Plan Checks to Client level consulting services. Regardless of your needs or concerns, contact us, we will be happy to discuss the situation and how we may be able to help.