When a buyer seeks bank financing to purchase an existing business or applies for a loan to borrow capital for other business purposes, lenders may require some form of collateral to help reduce the negative impact of a potential default. Such forms of collateral could be the assets of the company (both tangible and intangible) or stock in the company. As part of the underwriting process, lenders may request a business valuation of the closely held business and/or its assets. There are several standards of values to consider, including fair market value, market value, net orderly liquidation value, and other values that the lender may require. Some of the specific purposes and uses of an appraisal to be used by lenders include commercial financing, SBA loans, and asset-based lending. VSI works with lenders and other financial institutions to provide thorough, accurate, and objective valuation reports so that the lenders can make prudent underwriting decisions.