Who we are
Wert-Berater, Inc. has prepared independent feasibility studies for lenders, certified development companies, and federal agencies since 1998 — more than four thousand engagements representing $40.2 billion in evaluated project value across all fifty states and international assignments. Our fiduciary duty runs to the lender and the agency, never to the sponsor’s optimism: fees are fixed, quoted up front, never contingent on findings, and a determination is never changed under pressure.
What we do
Finfish operations — salmonids in raceways and net pens, tilapia and catfish in ponds and tanks, bass and specialty species for live and niche markets — are underwritten on the spread between feed cost and farm-gate price, multiplied by biomass the system can actually carry. The study validates carrying capacity against water flow, temperature regime, and oxygen budget; tests the growth schedule against the species' documented curves; and prices the harvest across the buyer set, since processor contract, live-haul, and direct channels carry materially different prices and risks.
How we do it
Cohort modeling from stocking to harvest, FCR and mortality benchmarked to species norms, energy and labor built from the system design, and a disease-event stress case — because a single loss event is the category's defining downside and the credit must survive one. Coldwater versus warmwater economics are modeled to the site's actual thermal profile.
How we can help you
Pond and farm-scale projects route naturally to USDA programs in eligible areas; SBA structures serve owner-operator processing and retail integrations; conventional credit governs larger consolidated operations. Finfish work draws on the firm's production-agriculture and processing record, including dairy and protein engagements where the same cohort-throughput logic governs the analysis.
How to engage us
Standard delivery is 10 to 15 business days from complete project data. Rush delivery for deals already in underwriting is accepted case by case for an additional fixed fee, quoted up front and committed in writing. Engagements are typically initiated by the borrower, with lender or CDC confirmation obtained before work begins — institutions differ, so confirm the procedure with your lending contact.