Flooring Plan and Loan Audits.
National Equipment Appraisal's flooring plan and loan audits are used to keep track of a wide variety of assets including:
- Automobiles, motorcycles, recreational vehicles
- Trucks, tractors and trailers
- Agricultural machinery
- Construction equipment
- Marine vessels
- Medical Equipment
- Dealer Consignment equipment
- Distributor Consignment equipment
- And more ...
Serving asset based lenders, National Equipment Appraisal customizes the audit process to accurately record, reconcile and report its findings based on standards set by the client. In all cases, the field auditor works with the company to reconcile company records to the results of the physical inspection.
The complete written report includes an inventory of assets and verification of manufacturer, model and serial number, condition, mileage or hours. Condition, location and unique characteristics are also explained and if possible, photographs are taken. Lastly, the report includes the auditor's reconciliation to the company's books with a written narrative.
In most cases, the fieldwork, audit and report are used as a baseline for continued asset monitoring.
In addition to providing flooring inspection services, National Equipment serves lenders by preparing certified machinery and equipment appraisals. If you are a lender and are faced with any of these situations, you should consider a certified appraisal in addition to inspection services.
- Is there a chance that your machinery and equipment loans are under-collateralized?
- Are you becoming more "asset minded" due to cash flow and economic times?
- Repossession inevitable?
- Is it time to liquidate?
- Does the loan meet underwriting standards and will values withstand the scrutiny of banking regulators?
Weather your requirements include inspection and audit, or a complete appraisal; you can count on National Equipment Appraisal to provide timely and accurate reporting. Call National Equipment Appraisal today to talk about your collateral protection.
