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Baltimore, MD Commercial Lenders
Many commercial lenders provide their own backroom with all debtor credit approvals and do verifications in-house to provide continuity and micromanagement of the portfolio. They may also handle their workouts in-house, often while trying to fund other clients. But why do that when you can have someone else do it for you? Save time and get your money back sooner by outsourcing all or part of your lending process to BCCS.
BCCS Commercial Lender’s Program
BCCS has decades of experience running a backroom operation and has created the Commercial Lender’s Program to provide support to commercial lenders in a variety of areas including:
Services include debtor credit evaluation, invoice verification (both pre-funding and on-going), portfolio evaluation, underwriting. These services are especially useful during funding crunch times when the borrower needs money immediately.
A/R audits, A/R aging analysis, borrowing base monitoring, and inventory analysis. BCCS will provide the “extra set of eyes” to monitor collateral when occasional on-site checks are desired; a full audit might not be needed. We bridge the gap to ensure you are properly securitized against financial loss.
We have thirty years of debt collections experience and have extensive knowledge of successful debt collection processes. In workout scenarios, we hit the ground running to provide maximum return and reduce losses. We get started immediately because we know that the lien against the A/R you hold becomes less valuable with time and after a few months, it becomes very difficult to collect on bad debt.
On-going Collection Services
Baltimore Credit and Collection Services can help with on-going collections issues. Are you lending against A/R? Do you have a lien against the receivables? How do you collect on the current-90 day A/R? We’ll handle it for you.
Why use the BCCS Commercial Lender’s Program?
With non-recourse factoring (or lending against A/R in a borrowing base), the receivables stay with the lender at 90 days and it is incumbent on the lender to collect. Even when invoices are recoursed back to the client, the lender still has a financial interest in ensuring that the invoice gets paid. All too often the recourse debt is forgotten once it reverts back to the borrower. A lien on A/R becomes less valuable as bad-debt accumulates.
Our program ensures that this does not happen. Our credit officers work hard to accurately assess businesses so that you get your money. Once you’ve made a loan, we stay on top of your A/R so that you can receive your money back sooner and can free up cash flow.
In every case, our credit officers must ask themselves:
Bridging the Gap Between Lender & Borrower
BCCS is here to collect on behalf of the lender on non-recourse loans, and on behalf of the borrower with recourse lending. A third-party full collection agency is always more effective. In fact, did you know that statistics show that in-house collections efforts are only effective 70% at ninety days and 50% when the receivable ages to six months? Are your margins large enough to absorb this kind of loss?