When lenders have many clients, and each client has many pieces of equipment, and the value of that equipment fluctuates with commodity prices or construction demand, staying abreast of the current value of all that heavy equipment collateral can be challenging.
It’s easy to spend large amounts of time and staffing resources valuing equipment when what the lender needs to do is focus on maintaining relationships with current clients and looking for new customers to help. Don’t get bogged down in a part of the lending process that’s better left to a third party.
Lenders look to HeavyWorth to organize entire equipment inventories into catalogs with everything they need to know about their clients’ collateral. We provide trusted, third-party evaluations so lenders and business owners can get past the possibly contentious step of putting prices on assets and focus on the important tasks of financing business operations
Our app walks you through a dead-simple process of documenting and photographing your equipment. The information is sent to our team of evaluators who will return a report of your equipment with corresponding HeavyWorth values.
We offer three options to lenders who use HeavyWorth to appraise heavy equipment collateral.
HeavyWorth full service
A turn-key option, our trained and experienced staff will capture photos and descriptions using our software. We’ll generate HeavyWorth values or USPAP appraisals.
A financial institution’s staff can develop stronger relationships with customers by capturing photos and descriptions and then sending to HeavyWorth for evaluation. We’ll provide instructions for capturing the right data with our software for reliable evaluations. Once the inventory is complete, we’ll review the content and generate HeavyWorth values or perform USPAP appraisals on each item as requested.
Financial institution self-service
For lenders who wish to do all appraisal and evaluation work in-house but are still wishing there was an easier way to keep everything organized, we allow financial institutions to license our software. They have the use of our mobile apps and web app and can generate the same catalogs, but they’re in charge of assigning values to the assets
Contact us to learn more.