Collateral Inspections

SMS works for banks, finance companies, leasing companies and others to reduce certain risks in their secured financing.

Lenders and leasing companies are exposed to certain hazards which can be reduced only through a physical presence in the field.

Does the collateral exist?
Are serial numbers correct?
Is the collateral in the expected condition?
If metered, are hours, mileage or counter readings as expected?
Does the lessee have possession?
Is installation complete and operational?
Is the customer satisfied with the equipment?
Was delivery taken within the required UCC filing period?


These are all questions, if unanswered, can lead to potential future problems.
Our field personnel are there to answer these questions whenever applicable.

Vendor Site Inspections

The vendor site inspection can be an important tool to determine not only their physical existence, but also their level of activity, how well established they appear, physical location and neighborhood information.

Lessee Site Inspections

The lessee site inspection provides general information shown above in Vender Site Inspections and is an attempt to determine if the equipment appears suited to the lessee’s type of business.

Floor Plan and Dealer Rental Inspections

These inspections can be arranged for same day, multiple locations when needed. One primary purpose is to identify any units still financed but sold. All items will be accounted for and the requirements of the finance company will be met.

These requirements will vary and be determined by the type of financing and the lender’s comfort level with the dealer. The lender will lay out the inspection needs from 100% physical inspection for yard and rental/demo units to less needs, such as, seeing yard units and gather copies of paperwork for those on rent or demo or sold.

Equipment Appraisals

SMS is not in the business of appraising equipment, however, many of our field personnel have that experience and we would be happy to refer you directly to them if we have an appraiser in the area you need.