BLUE COLLAR CFOsBoots before spreadsheetsBoots on the ground for your loan book.
Banks, ABL lenders, factors and equipment lenders hire us directly when a credit is underperforming, something in the file does not add up, or the collateral needs to be seen and valued by people who have run the equipment.
Your analysts can read the file. Somebody has to go look.
A borrowing base certificate tells you what the borrower says is there. It does not tell you whether the trucks are in the yard, whether the invoices match what was delivered, or what the iron would bring at auction next month. That takes somebody on site who knows what they are looking at, and a report your credit team can act on.
Four jobs. One report you can take to committee.
Credit review before it goes to workout
A covenant slipped, the reporting is late, or the payments are coming in on the last day. We rebuild the borrower's cash position from the bank statements, map the full debt stack, test the collateral at liquidation value and tell you plainly whether to hold, restructure or exit.
Fraud and misrepresentation review
Receivables that do not tie to deposits. Invoices with no proof of delivery. The same receivables pledged to two lenders. Equipment that is not where the schedule says it is. Liens nobody disclosed. We trace it back to source and report what we found and how we found it.
Eyes on the collateral
We go to the yard, the shop or the job site. Every unit checked against the schedule by VIN or serial number, with hours or miles, condition and photos. Inventory spot-checked. What we see of the operation, written down: are the trucks running, is the shop busy, is anybody working.
Equipment values you can lend against
Trucks, trailers, yellow iron, plant and shop equipment, valued at orderly and forced liquidation value from the unit schedule, photos, hours or miles, condition and the current resale market. When we value a fleet, we value it the way a liquidator would.
Written for the credit file, not for the borrower.
- A written report to the lender, with findings and a plain recommendation
- A unit-level schedule: VIN or serial, year, hours or miles, condition, location and lien holder
- Values at orderly and forced liquidation value, and how we got there
- Receivables tested against bank deposits and proof of delivery
- Lien, title and filing findings
- Photos from the site
Who does the work. Our team came up on the lending side of these facilities: underwriting them, funding them, monitoring them and, when they went wrong, recovering on them. We know which questions the credit memo has to answer, because we wrote them.
Every member of our team has operated the equipment and sat on the other side of the table.
Straight answers.
Who do you work for when a lender hires us?
The lender. The lender hires us, the report goes to the lender, and the borrower sees only what the lender chooses to share.
What do your desktop appraisals cover?
Equipment and rolling stock: trucks, trailers, yellow iron, plant and shop equipment. We value it at orderly and forced liquidation value. Real estate appraisals go to a state-licensed real estate appraiser.
What does a fraud review look for?
Receivables that do not tie to deposits or proof of delivery, invoices to related companies, receivables pledged to more than one lender, equipment that is not where the schedule says it is, liens the borrower did not disclose, and collections that stopped landing where they should. We report what we found and how we found it.
Do you inspect sites outside Idaho?
Yes. We are based in Caldwell, Idaho and work nationwide.
Which industries?
Trucking and logistics, construction, excavation, oil & gas services, manufacturing and specialty trades. Asset-heavy, owner-operated borrowers.
Have a file that needs eyes on it?
Tell us the borrower's industry, the collateral and what is bothering you. We will tell you what we would look at first.