BANK SERVICING PROGRAM
First Capital Bank Servicing functions to include:
- Providing accurate daily tracking of client’s loan balance and availability.
- Reviewing and reconciling all borrowing bases prior to advance request being processed and forwarded to Bank for approval and funding.
- Viewing all daily cash posted through Bank’s lockbox and memo-posting to First Capital’s system.
- Performing monthly cash-receipts-testing of lockbox receipts.
- Performing accounts receivable verifications on a weekly basis based on client’s weekly or daily borrowing base supporting documentation. Verifications are performed via phone and fax or through online systems when applicable.
- Calculating all accounts receivable and inventory ineligibles based on client’s submitted reports.
- Providing Bank with collateral reports and trend reports on a weekly basis.
- Providing both Bank and client with online access to First Capital’s reporting system.
- Ability to update the Tickler system for items as needed to assist Bank in the management of the client.
- Performing initial due diligence field exam and ongoing quarterly field exams (detailed field exam information available upon request). Field exam results to be summarized and forwarded to Bank.
Program flexibility:
- Loan sizes range from $2 million to $20 million.
- First Capital’s servicing fee will be a per annum charge of the outstanding balance dependant upon the size of the loan.
- First Capital’s level of participation ranges from providing the servicing only to providing a first loss guarantee to co-lending in up to a certain percentage of the loan.
- Pricing flexible based on level and risk of First Capital’s guarantee.
The Bank simply chooses the level of risk to take:
- Bank keeps 100% of the loan while First Capital provides the underwriting and servicing of the loan.
- Bank keeps 100% of the loan while First Capital provides the underwriting and servicing of the loan and guarantees a 5% first loss position.
- First Capital participates as a co-lender with Bank while First Capital provides the underwriting and servicing of the loan.
Referrals Welcome
To get started with the First Capital Bank Servicing Program, simply call 800-619-0804 or click Contact Us.
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