Field Examination
Durkin Group performs all field examination services in accordance with agreed-upon procedures as requested by a lender. A field examination includes inspection of a client’s books and records and asset value testing focusing on any assets pledged as collateral support for a lending facility.
The types of field exams offered by Durkin Group include:
- New Business Field Examination or Survey Examination
- Takedown Field Examination or Pre-Funding Examination
- Recurring Examinations
- Physical Inventory Test Counts
RECENT ENGAGEMENTS
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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 [...]