Case note: Mid-market credit facility pack
A Hsinchu manufacturer asked for a full financial audit of applications five weeks before a revolving facility renewal. The pack included management accounts, a thirteen-week cash forecast, and collateral schedules across two plants.
Our review flagged three material items: a cash flow that excluded VAT timing, a mortgage annex referencing a discharged lien, and an inconsistent headcount figure between the narrative and payroll extract. The team corrected the file in nine days; the clarification call assigned owners for each severity tag.
Outcome: the bank’s first-round questions stayed limited to forward-looking covenants rather than basic tie-outs. Engagement fee fell in the mid range of our full-audit guidance after a modest rush adder.