RECOVERY / STEWARDSHIP SERVICES:
PROTECT YOUR COMMUNITY'S INVESTMENT BY HELPING SMALL BUSINESS CLIENTS GET BACK ON TRACK WHEN PROBLEMS ARISE
Their are so many things beyond your borrower's / client's control that can cause their business to get into trouble; having a go-to resource that can help them turn things around when that time comes is the responsible thing to do when investing taxpayer or depositor dollars. We help our partners steward the investments they make in small businesses by providing an easily implemented solution that can be introduced at the first signs of trouble.
Pebble Recovery Plans help your clients get an accurate current-situation snapshot of their business so they can see the problems in their business. Then we help them build a turn-around plan to implement with or without your oversight. They make the decisions, they choose their course of action, you just introduce them to the resource. If additional help is needed they can use internal resources or invite outside expertise into the app at their option.
Keep reading below to get the more information about how our services can help with city or regulatory audit readiness.
THREE WAYS TO USE RECOVERY PLANNING:
When something has happened to a client that has the potential to put their business in danger (divorce, death of a partner, etc.); encourage them to go through the recovery planning process so they are ready for potentially difficult times ahead. This is a very light touch, that can have a significant impact and is a win/win for you & your client.
When you see signs that the business may be in trouble (slow pay, avoiding calls, etc.) Let your client know that you want them to go through the recovery planning process and that you may be checking on their progress periodically in the app. This is a moderate touch that communicates concern without necessarily changing the relationship.
When you have confirmation that the business is in trouble (bad financials, missed payments, managers leaving, etc.) Let your client know that you expect them to go through the recovery planning process and that you will be monitoring their progress. This can be a wakeup call that you will be taking action if they don't turn things around.
PREPARING FOR AUDIT OR EXAMINATION:
Some businesses are going to fail; it's unfortunate, but it doesn't have to be painful for your organization at audit time. We provide unique & innovative solutions for EDC audits, CRA examinations, and Safety & Soundness examinations that can demonstrate active engagement with LMI accounts and troubled accounts; and provide 3rd party verification of the work done with the client, account holder, or applicant. Multiple auditors have stated that the presence of our documentation in a troubled credit account would be a comforting and mitigating factor in their opinion of whether an institution was monitoring asset quality and was actively engaged with the client in an effort to maintain a strong portfolio. Contact us to discuss how we can help you put your best foot forward at audit time.