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Collateral Examination & Quality of Earnings

Ambulance Service Provider Routine Examination

A lender contacted Durkin Group to perform a routine field examination of an ambulance service provider. The company was requesting an increase in its working capital line. During cash testing, our field examiner discovered that the owner of the company was diverting funds to a troubled exotic car business that he also owned. The lender decided to reject the customer’s request for the line increase and put restrictive covenants in place to stop any additional down streaming of cash.

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