TransPecos Banks, SSB, a Texas banking organization with locations throughout the TransPecos Region of West Texas and San Antonio, has launched the digital-first Velocity Equipment Finance platform to accelerate, improve and simplify the equipment finance experience for SMBs, vendors and third-party originators.

Velocity’s cutting-edge technology offers the simplicity of consumer lending for commercial equipment and technology financing. Backed by the strength of TransPecos to serve a wider range of businesses, collateral types and credit needs, the firm is well-positioned for growth.

Cory Damm, Managing Director of Velocity EF, said, “For years, the equipment finance industry innovation practices have stopped at the edge of improving 50-year-old processes. Breakthrough finance innovation is happening in sectors both tangential and parallel. It is long past time to see those innovations reach the needs of small businesses, vendors and third-party originators. With TransPecos’ support, those audiences will have a new definition of incredibly fast and flexible equipment financing.”

Mike Kozub, CEO of TransPecos said “We have long been interested in entering the lease financing space. Launching Velocity EF allows us to deliver a unique value proposition to small and medium businesses needing capital access quickly. Velocity expands TransPecos current product suite, furthers national reach and strategically supports our mission to reinvent community banking.”