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Field Examination

  • Field Examination of a Payday Lender

    Durkin Group was engaged by a Senior Lender to perform a recurring field examination on a finance company that provides payday loans.  The field examiners reviewed the credit policies and procedures of the finance company and noted that there was an internal policy against loan flipping.  It was also not permitted in the Senior Lender’s […]

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  • Field Examination of a Factoring Company

    Durkin Group was engaged by a Bank to perform a recurring field examination of a finance company that factors attorney’ legal fees that have become due and payable through pre-litigation settlements. These settlements are usually for personal injury, workers compensation, and class action litigation cases and are typically due from insurance companies and state insurance […]

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  • Businessman’s Review

    The Loan Workout Group of a large commercial bank had a problem loan transferred in from the Corporate Lending Department.  To determine the bank’s position and provide current information for decision making, the bank required an immediate assessment of the company’s liquidity position as well as the collateral performance.  In conjunction with the field exam, […]

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  • Government Contracts

    Durkin Group was engaged by a finance company to complete a survey for a $65 million senior secured credit facility.  The credit facility was to provide working capital and fund the acquisition of a company with a concentration in defense contracting.  Since the largest exposure of the credit facility centered on federal government accounts receivable, […]

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  • Field Examination for Large Commercial Finance Company

    Durkin Group was engaged by a Large Commercial Finance Company to perform a survey field examination on a insurance premium finance company.  The company finances both property and casualty insurance premiums for individuals and businesses.   The insurance premium finance company had wide fluctuations in their receivable base due to the timing of both payments and […]

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  • Field Examination for Senior Lender

    Durkin Group was engaged by a Senior Lender to perform a recurring field examination on a finance company that provides payday loans.  The field examiners reviewed the credit policies and procedures of the finance company and noted that there was an internal policy against loan flipping.  It was also not permitted in the Senior Lender’s […]

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  • Field Examination for Bank

    Durkin Group was engaged by a Bank to perform a recurring field examination of a finance company that factors attorney’ legal fees that have become due and payable through pre-litigation settlements.  These settlements are usually for personal injury, workers compensation, and class action litigation cases and are typically due from insurance companies and state insurance […]

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  • Field Examination for National Bank

    Durkin Group was engaged by a National Bank to provide a recurring field examination on a finance company that monetized structured settlements.  The finance company purchases all or a portion of a Claimant’s rights to receive future Scheduled Payments under Settlement Agreements payments, thereby providing liquidity to Claimants whose Structured Settlements no longer meet their […]

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  • Field Examination & Investigative Research

    While performing a survey field examination on an electrical supply wholesaler, the examiner inquired as to whether or not the company had any affiliated entities. Some of the documentation (purchase orders and invoices) reviewed noted similar names and addresses; however, management denied the existence of related parties or affiliates. After consulting with the Lender, further […]

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  • National Bank Engages Durkin Group for a $300 Million Agented Transaction

    Durkin Group was engaged by an agent bank to perform an initial field examination of a prospective borrower for a $300 million syndicated transaction. The assignment required five field examiners to perform an examination of 14 divisions with locations throughout the United States. The team was led by a Durkin Group senior manager who was […]

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  • 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 […]

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  • Regional Medical Center New Business Transaction

    Durkin Group was engaged by the Field Examination Manager of a large national bank to conduct an initial field examination of a regional medical center for a proposed $250 million facility. The Field Examination Manager did not have field examiners on staff with healthcare expertise. In addition, the Field Examination Manager needed a clear, concise […]

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  • Financially Troubled Hospital Liquidation

    A healthcare lender called on Durkin Group for an emergency field examination of its customer—a financially troubled hospital. During the engagement, our field examiner uncovered a significant past due payroll tax liability that had not been previously disclosed to the healthcare lender. This discovery, combined with the deteriorating financial condition of the hospital, resulted in […]

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