Sound Shore Financial
We perform complex ABL Field Examinations and Pre Loan Due Diligence for premier financial institutions as well as offer discerning assessments and analyses. Our services enable lenders to make significant credit decisions for both commercial and asset based loans while our seasoned team provides consistent and detailed communication to the lender throughout the exam. On our Pre Loan Due Diligence work, Sound Shore Financial has a record of zero write offs. We aim to partner with you from the beginning to help ensure the strength of your positions and maintain a portfolio of profitable loans.
- Asset Based Field Exams
- ABL Training & Development
- Business Assessments and Valuations
- Best Practices
Sound Shore Financial has an outstanding track record over many years and all of our lending clients rely on us for their most sensitive examinations. We have an extensive team of examiners with 10-35 years of experience. It’s this experience that has given SSF the ability and reputation for providing consistent, detailed communication to the lender throughout our examinations and go beyond the scope of most examinations. We have been known to uncover unexpected issues that other examiners miss and protect our clients’ interests and positions. SSF is proficient in examining loans of all sizes, types and across industries.
Based on our extensive experience, we possess a unique understanding of the nuances of Asset Based Lending and its inherent risks.
Field Examinations include procedures designed to provide the lender with a detailed and thorough evaluation of their collateral.
Our services include:
- Pre Loan Due Diligence
- Recurring Field Examinations
- Forensic Accounting
- Quality of Earnings Analyses
- All Financial Due Diligence
The scopes of our services include:
- Testing the integrity of accounts receivable and inventory and their performance trends
- Evaluating the borrower’s revenue recognition, billing, collection processes and systems
- Review and test of bank accounts, reconciliations, receipts and disbursements
- Meeting with management and communicating effectively at the CFO or CEO level
- Performing detailed analysis of the general ledger
- Analyzing the condition of accounts payable and status with key vendors
- Reviewing Federal and State tax returns
Our field examinations span a variety of industries including manufacturing, distribution and service companies. We have specific expertise in:
- High Tech
Sound Shore Financial has developed and conducted a thorough training program and workshop for Asset Based Lenders. The course and materials are centered on proper relationship management both inside and outside of an organization. The training includes modules on collateral monitoring, interpreting field examinations, receivable and inventory valuations, loan monitoring and implementation of proper reserves by lenders.
This program is perfectly designed for enhancing and expanding the efforts of an existing ABL division or group, as well as establishing a new one. SSF’s extensive and successful experience in Asset Based Lending has been a valuable asset to many firms from those just beginning in ABL to some of the most experienced.
Training includes modules on:
- Collateral monitoring
- Interpreting field examinations
- Receivable and inventory valuations
- Loan monitoring
- Implementation of reserves by lender
All training and seminars delivered by Joseph Iannuccilli, Founder/CEO of SSF.
This area is geared for lenders and investors who wish to have an in-depth business assessment larger in scope than traditional collateral examinations. Reports will cover management capabilities, operations, cash flow projections and asset values. Delving beneath the surface of a company’s numbers can add comfort or define areas of weakness that may either be monitored going forward or result in the restructure or declination of a loan. Valuations are provided for M&A clients.
The difference between Sound Shore Financial and other firms is the fact ours has one of the recognized leaders of the Asset Based Industry directing and leading the firm. We have experience in the turnaround and restructuring of many distressed companies. SSF has solid, successful experience assisting lenders in recovering problem loans.
We understand that the most important part of any client relationship is to have enough information on loan approval. We are able to provide independent business assessments and quality of earnings reports that truly reflect the borrower’s business. These reports assist the lender in loan determination, acquisitions, sales and mergers as well as strategic planning.
SSF services both de-novo ABL operations and mature specialized lending groups. Consulting is centered on improving collateral monitoring procedures, credit evaluation techniques, more efficient organizational structure, proper job descriptions and individual staff functions. Implementation of policies and procedures will increase profitability through productivity enhancements and minimizing bad debt losses.
“We are indebted to Joe and Sound Shore Financial”Joe Pietryka, Owner, Lumelite Corporation, on business valuation and financing for sale
“Joe and SSF did a fine job and was instrumental in our implementation of our strategic plan to restructure the business.”Sterling Jensen, CFO, NVE Stacker II, on $100 million bankruptcy turnaround/restructuring
“Joe’s experience in ABL and his training of our staff was a great resource to us. The participants found the workshops to be extremely helpful in gaining practical knowledge on how to monitor ABL loans through Joe’s own experiences as a lender.”Steve Fuscaldo, Regional Manager, GE Capital Business Credit, on ABL Division Training
“Sound Shore provided an in depth analysis and recommendations that were exactly what we needed to make important strategic decisions about this line of business.”Joseph Nemia, Specialty Lending Head, RBS Citizens, Multi-billion Dollar Portfolio Assessment
“Joe Iannuccilli and SSF did quite a job for us and CIT on Jaco Electronics. He found the crud in the receivables and the inventory, helped manage the checkbook to nurse the company to a refinancing that he arranged and made the necessary introductions for. Wow, pretty impressive. Joe’s staff all know the business, the tricks of the trade, the tricks that most borrowers pull and they understand collateral in its truest sense.”Richard Levenson, Senior Vice President, Bank of America, about multi-million dollar loan assessment and restructuring