Here at Vertex Financial Services, we don’t view ourselves as direct competitors to banks and other traditional lending sources. Instead, we see our accounts receivable factoring services as innovative alternative sources of capital that complement what banks can provide and reach clients whose banks are not well-equipped to serve.
Most banks prefer not to offer loans against the accounts receivable of companies (also known as “asset-based lending”). This is understandable for the banks, but asset-based lending is sometimes the best option for certain types of companies – especially those with high investment needs or urgent payroll demands but cash flows that are too irregular to meet them.
To support these clients in a way that benefits banks as well, we’ve proudly developed robust bank referral relationships with a multitude of banks across the nation. The relationship usually works like this:
Rather than simply turning a poorly matched client away, the bank can instead refer them to alternative working capital financing options from an asset-based lending financial company like ours. In exchange, we provide highly lucrative referral fees to the banks. This is good for banks by boosting their efficiency ratios, fee income, and return on the their assets.
We don’t even require an exclusive referral relationship from the banks we work with. Instead, we rely on the fact that the benefits reaped by banks themselves will prove us worthy of a preferred partner status.
The overall result? More capital availability. More profitable businesses. A better, more thriving American economy. In other words, our factoring services complement both the banking system and the broader economy.
So contact our factoring specialists to learn about how we can work together and begin exploring these sorts of mutually beneficial solutions — or just go ahead and send any clients who are in need of something beyond your standard lending options our way.
Times are tight for many businesses across America. According to U.S. Bankruptcy Courts, more than 56,000 companies filed for bankruptcy in 2010, compared to just 28,000 in 2007.
The most important quality of our team is their experience. For example, our founder, Craig Canon, started Vertex in 1989 after decades of experience both managing investment portfolios and running small businesses. Check out the experienced team he’s assembled over the years, featuring an extraordinary level of experience in just about every type and side of business imaginable:
Debra Wilson, President — 24 years of commercial finance experience for four different companies, gaining invaluable experience in commercial credit and collections, auditing, management, marketing and customer service.
Robert F. Gross, Chief Financial Officer — 25 years of senior level experience in entrepreneurial environments such as three different technology start-up companies.
Janette Bankston, Executive Vice President — 26 years of high-level experience in sales, marketing and business development, including more than 13 years working in every aspect of factoring. Her breadth of knowledge covers all aspects of factoring transactions, including marketing and business development.
Sylvia Stock, Business Development Officer — 15 years of experience in both the U.S. and Canada, plus roots in business development as her family has owned sawmills for three-generations.
Recently, we had the chance to spend some time with media queen Tina Brown. If you’re not familiar with the editor-in chief of both Newsweek and The Daily Beast, her story is a fascinating one — and one that can teach us a few things about how important 
New technology after new technology, coast to coast, the telecommunications revolution isn’t going to end anytime soon.
