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Subscribe to this pageBorrowing Base - Overlooked Ineligibles Can Affect Collateral - Part 4
In our first installment on Inventory ineligibles we looked at raw materials, work-in-process, private label, and in transit inventory. We outlined why these types of inventory should be considered as ineligible and also showed the effect on the BBC when our field examiner applies reserves to several of the ineligible categories not reported by the borrower. In the following presentation we will continue our discussion of inventory ineligibles by covering the following categories: offsite, overhead, and slow moving/obsolete inventory. Additionally, we will summarize the difference between the Examiner’s calculations and what was reported on the BBC.
LCG Hires Jeff Fisher as Quality Control Associate
Lender’s Consulting Group, Inc. (“LCG”) is pleased to announce the hiring of Jeff Fisher as Quality Control Associate. Mr. Fisher will be a key addition to the existing quality control team at LCG, and will be responsible for reviewing client deliverables and maintaining LCG’s high standards of quality. Prior to LCG, Mr. Fisher spent the past ten years at Fifth Third Bank, most recently as a Regional Field Examination Manager. Mr. Fisher was responsible for managing the operations and quality of collateral field examinations primarily in the Midwest and Southeast regions of the country for the bank. He will be based in Evansville, Indiana.
Paul Epstein, Managing Partner of LCG stated: “We were extremely fortunate to find someone with Jeff’s experience and expertise. He will be a tremendous addition to our existing team, and will allow us to continue our focus on high-quality customer service.”
Lender’s Consulting Group, Inc., a wholly owned subsidiary of LCG Capital Holdings, LLC, provides outsourced due diligence, such as collateral field examinations and quality of earnings reviews for lenders and institutional investors throughout the country. Based in Tampa, Florida, Lender’s Consulting Group, Inc. is also located in Atlanta, Boston, Charlotte, Columbus, Dallas, Houston, Indianapolis, Los Angeles, Memphis, Miami, and New York. LCG Capital Holdings, LLC is also the parent company of LCG Capital Advisors, LLC, a FINRA registered broker-dealer and SIPC member firm, which provides transaction advisory services related to corporate mergers, acquisitions and divestitures, recapitalizations, financial restructuring, debt placement, institutional equity placements, and other advisory and investment banking services.
Borrowing Base - Overlooked Ineligibles Can Affect Collateral - Part 3
In our first section, we illustrated the differences between what a borrower typically reports as ineligible A/R on its borrowing base report compared to what can be uncovered during a thorough due diligence exam. As a continuation of our series, we will shift from A/R Ineligibles to begin focusing on Inventory Ineligibles. The first installment will demonstrate what a borrower typically considers ineligible compared to the results of a due diligence field examination. In the following presentation, please notice the difference between how the borrower calculated borrowing base availability and how our Field Examiner calculated availability by applying reserves to several of the more common inventory ineligible categories not reported by the borrower
