Cync allows lending institutions to increase their productivity and reduce costs by automating the Borrowing Base Certificate (BBC) process. Cync can process BBC’s on a daily, weekly, monthly or on demand basis. Lenders can perform collateral valuation for formula-based advance rates and track various types of collateral. The lender or borrowers only have to upload files and Cync automatically calculates all ineligible accounts receivable, inventory, collateral values and borrowing base certificates from their collateral details. Ineligibles can be set up at the client, account debtor or invoice level. Once the BBC is completed, Cync offers electronic approvals and funding requests.
Cync provides lenders exceptional document tracking, monitors risk, manages covenants and collateral, as well as assisting with tough credit decisions. Cync’s automated commercial loan monitoring tool improves the performance and mitigates risk within the portfolio. With its reporting, trending and graphs, it provides complete control and analysis to asset based lenders which enables them to grow their commercial portfolio profitably; all the while minimizing risk and improving the borrower’s experience. With this information, lenders can easily make funding decisions within minutes.