Vertex Financial Reports New Factoring Business Growth in Fourth Quarter 2012

Jan. 10, 2013 - PRLog -- Vertex Financial, an invoice factoring company (http://www.vertexfinancial.com/), ended 2012 up from previous years.  

“While new business was not what we anticipated our existing clients saw growth in 2012 and we still were still able to provide several companies with financing” said Janette Bankston, Vice President of Vertex Financial.

Vertex has provided over $1 billion in financing to more than 1,000 businesses since its founding in 1989.  These businesses were startups as well as companies with several years in business.

Vertex Financial’s oil and gas factoring (http://www.vertexfinancial.com/factoring_oilgas.asp) and staffing agency factoring services (http://www.vertexfinancial.com/factoring_tempstaffing.asp) have provided the funding needed for these companies to continue growing in 2013. The following report summarizes how Vertex Financial was able to help two clients through business financing factoring and working capital financing last quarter.

Vertex Financial expanded factoring services in the Oil & Gas industry by funding $500,000.  The client’s case consisted of the following:

·Provider of oilfield services for major oil companies since 2009.

·Company experiencing rapid growth over the past two years due to oil  boom.

·Company was funded by line of credit from their bank, but required more working capital than the bank was able to provide.

Factoring Timeframe

·1 business days to approve

·3 days to fund

Factoring Results

As a result of the additional working capital Vertex Financial was able to provide the Company they are now on track for another year of record growth.

Vertex Financial as worked closely with the Medical Staffing field by funding $150,000.  The client’s case consisted of the following:

·Staffing agency with a focus on jobs in medical and healthcare; in  business since 2010.

·Company was relatively young, not enough historical data for bank to  approve

Factoring Timeframe

·1 business days to approve

·3 days to fund

Factoring Results

Because the company was primed for growth, Vertex Financial decided they were a solid risk to take on.  Through factoring services, the Company was able to access the funding they needed in order to continue growing.

Based on this report, Vertex Financial can continue to help other companies grow by offering quality factoring services.

About Vertex Financial:

Vertex Financial, a Dallas based accounts receivable and invoice factoring company, is known for meeting the needs of small or growing businesses when banks or other financial institutions cannot.  Specializing in Construction Factoring (http://www.vertexfinancial.com/factoring_construction.asp), Manufacturing Factoring (http://www.vertexfinancial.com/factoring_manufacturing.asp), Oil and Gas Factoring (http://www.vertexfinancial.com/factoring_oilgas.asp) and Temporary Staffing Firms Factoring (http://www.vertexfinancial.com/factoring_tempstaffing.asp), Vertex will turn your receivables into immediate cash. Factoring is the way; Vertex is the solution. To find out more about Vertex factoring please visit: http://www.vertexfinancial.com.