Milberg is frequently called upon by another lender or group of lenders with outstanding credit facilities that require better monitoring and control. Milberg monitors the collateral, manages the loan and participates in the financing as well.
Milberg performs its own investigation of the bank or bank group's client to make an independent assessment of the client's financial condition and future prospects.
Where necessary, Milberg recommends a financing structure and an action plan to ameliorate the credit situation.
In most instances, Milberg factors the client's receivables to provide the lending group with maximum control over collateral. Or, alternatively, Milberg manages the loan on an asset-based financing basis, sweeping the cash collected on receivables and monitoring the client's receivables position.
Milberg issues reports to the bank group, at least weekly, on the loan balance, open L/Cs, collateral balance and month-to-date loan and collateral activity.
Daily Loan Funding:
Milberg makes daily advances to the client on behalf of the bank group, settling with the banks weekly.