We Service A Variety of Industries
Veritex works with a wide range of businesses located throughout the nation, including but not limited to:
- Government contractors
- Temporary Staffing
- Information Technology (IT)
- Printing / Recycling
Subject to credit approval
Factoring is a well established form of improving cash flow. Think of it as getting paid now on the money your business will receive in the next 30, 60 or 90 days from your outstanding invoices. Veritex Business Financing will purchase your eligible invoices and then work directly with your clients on payment.
It is a normal principle for some industries and useful option for all sorts of businesses. Veritex Business Financing has made the process straightforward and simple. We are happy to work with your company whether your need is as small as $200,00 or as large as $5 million. Our program helps you manage your cash flow so you can manage your business.
We also understand that each company is unique. Term, structure, rates and fees can be customized to meet your company’s specific needs. Because we are a Texas-based team, we’re accessible and will take the time to meet and understand your requirements. We are able to respond when you need us – usually one or two business days from letter of intent to funding.
What will my clients say about selling my invoices?
Many Fortune 500 companies use this strategy to finance their businesses because it is not debt and will strengthen your balance sheet. You will be able to offer better payment terms based on this finance facility.
We’ve Made It Easy To Get Paid When You Bill
- Submit a listing of invoices and supporting documentation to Veritex Bank as invoices are sent to your customers.
- We review the documentation; spot confirm the A/R and typically advance 80-85% of the face value of the invoices tin one to two days.
- We follow up with your customer for payment; we do this in-house to protect your relationships.
- When all invoices are paid by your customers, the balance of the invoices’ face value is released to you less factoring fees.
>> The percentage less the discount fee is returned once we receive payment from your customer.
The Approval Process is Efficient
- We will issue a proposal letter within 24 hours after receiving a completed package
- Once the proposal is signed, we will underwrite the transaction within one or two days.
- No personal assets pledged as collateral.
- No depository relationship required.
- Veritex Bank undertakes credit review and collection services at no additional charge.
Invoice factoring from Veritex Business Financing is a readily available source of funding that most businesses don’t realize they have.
Benefits of Factoring
- Factoring eliminated cash flow problems
- Invoice factoring is a lifeline for new or small businesses who are not approved for traditional bank financing
- Invoice factoring provides uninterrupted service for your clients and debtors.
Veritex Business Financing works independently with your company – you don’t need to have accounts with the bank to use our services.
Contact Us To Learn More
Our programs are fast, flexible and designed for your business. As part of independent Texas-based Veritex Bank, we have the right tools and services for your business now and in the future.
Create long term relationships is our goal and it shows in our commitment to you.
Telephone: 800.994.0779 | Serving Businesses Nationwide