Our Background
The Story Behind Velocity Financial.
We come from over six generations of small business owners. Our family has owned businesses in Texas dating back to the early 1900s, including a general store, clothing stores, trucking companies, and oil and gas companies. This gives us a unique perspective on the needs of our clients because we have been in their shoes. When combined with the decades of invoice factoring company experience of our operating and underwriting team, this is a powerful combination.
The values we live by have been honed over a century of small business ownership – namely hard work, integrity, and customer service. We pride ourselves on looking out for the best interest of our clients and always being upfront with pricing.
We look forward to partnering with you to help meet your working capital needs so that you can continue growing your business.
What Set's Us Apart
Experience The Difference.
Customer Service – We put customer service as our #1 priority and work hard to meet the needs of our clients. We are always a call away and will never outsource our customer service.
Honesty & Integrity – We are always straightforward with our clients. Our pricing is open and transparent, without any hidden fees. If factoring is not a good fit for your business, we will be the first to tell you.
Experienced Team – The members of our team have decades of factoring experience. This allows us to provide top-notch customer service and be creative to meet our client’s working capital needs.
Small Business Owners – Our family has owned small businesses in Texas for over six generations. Over this time, we have learned that regardless of the type of business, the keys to success are customer service, integrity, and hard work.
We’ve been in your Shoes – We discovered factoring when using it for one of our oil and gas service companies that had some short-term working capital needs. We saw the need for a invoice factoring company guided by the principles that we learned over decades of owning small businesses, and Velocity Financial was born.
Choosing Velocity Financial
Why Partner With Us?
Many companies do not have access to bank financing or prefer to get outside assistance with managing the collection of their accounts receivables from customers.
That’s where Velocity Financial comes in. We provide a fast and straightforward solution to your capital needs. By factoring your receivables with Velocity, we provide access to capital to help your business grow. Fund payroll, buy additional materials, increase your sales, and ramp up for future growth.
Irene Hinojos
President
Graduating from the University of Texas Permian Basin in 2010, Irene accepted a position as Account Manager for a invoice factoring company. She quickly developed a passion for the industry and began moving up in the company as she gained experience in Operations, Customer Service, and Compliance. She joined Velocity in January 2019 and looks forward to the continued growth and success of the team. When not at work, she enjoys cooking, traveling, and spending time with family.
” I think the most important part of operations is putting ourselves in our client’s shoes. ‘If I were in this situation or had this issue, how would I want it to be handled? What kind of response do I expect when I’m the customer?’ – That’s the kind of service I will always strive to deliver to our clients. “
– Irene
Wright Wommack
CEO
Wright Wommack was born and raised in Midland, TX. Wright attended the University of Texas. Wright’s previous experience includes founding Atlas Bend Capital, a company focused on real estate and other investments. Prior to founding Atlas Bend, Wright worked in law and investment banking.
“It’s an honor to work with such a great team at Velocity. While each of us brings a different skill set to the table, we share a common focus centered around hard work, honesty, and providing the best customer service possible. We get excited about helping our clients grow and achieve their goals.”
– Wright
Tripp Wommack
Chairman of the Board
Tripp Wommack has been in the Energy business since 1979. He has lived in Midland, Texas and focused almost exclusively on the Permian Basin since 1980. He has founded and managed multiple companies within the Oil & Gas industry such as Basic Energy, Southwest Royalties, Warrior Technologies, and SitePro, to name a few, in addition to his experience in commercial real estate. As a true entrepreneur, Tripp understands the need for commercial financing for small businesses.
“Having been in Midland since the 1980s, I have seen the boom and bust cycles firsthand and understand the struggles energy service companies face on a daily basis securing traditional lines of credit. Velocity was founded with our oilfield neighbors in mind and we plan to be the premier factoring company in the industry.”
– Tripp
Justin Ryan
Senior Vice President – Underwriting & Credit
Raised in Midland, Justin has been assisting oil & gas service companies achieve their goals for the past 17 years and has a passion for his community. He worked in the insurance industry for over 15 years prior to entering into factoring in 2007. He enjoys helping small businesses and, even if he won’t admit it, is a real people-person. He has a business degree from Sul Ross State University where he was also a four-year letterman on the baseball team. Outside of work, Justin enjoys playing golf, watching baseball and spent many years helping his daughters play fast-pitch softball through high school and college.
“I get great satisfaction out of watching small businesses achieve success. They have taken the risk of going out on their own and as all entrepreneurs know there are many road blocks along the way. We have been able to relieve them of the financial burdens so they can focus on relationships with their employees and customers”.
– Justin
Ballard Johnson
Board Member
Ballard Johnson was born in Shreveport, LA. Ballard’s previous experience includes co-founding Secunda Capital Partners, a company focused on acquiring real estate in Texas and Arkansas. Prior to founding Secunda Capital Partners, he worked for Halliburton on the design team, specifically supporting and coordinating projects in the Deepwater Gulf of Mexico.
“I have been in the shoes of the entrepreneur for the last 6 years of my career, and I know the daily burdens that come with starting and building your own business. This is why I am so excited to be a part of the Velocity team, as it gives me the opportunity to help entrepreneurs find the breathing room they need to grow their company and reduce the pressure associated with operating a small business.”
– Ballard
Natalie Barrera
Senior Account Manager
Natalie was born and raised just outside of Midland,TX. She has been in factoring for several years now. She started as an Assistant and worked her way up to a Senior Account Manager. She just joined the Velocity team in 2022 and looks forward to continuing growing in this industry and working with the Velocity team. When not at work she enjoys spending time with her family and close friends.
“I enjoy working with client’s every day to help them grow and achieve their goals. Doing so I work hard in giving clients excellent customer service and honesty.”
– Natalie
Jeff Johnson
Vice President-Business Development
Jeff Johnson is an accomplished professional in the oil and gas sector with an extensive 22-year career, focusing solely on the Permian Basin. His deep-rooted family background in the industry has been a driving force behind his successful career. Moving on from his accomplishments in the oil and gas industry, he was appointed as Vice President of Business Development at Velocity Financial in 2023.
In this role, Jeff brings a wealth of experience and a proven track record in business growth and development. His strategic vision and in-depth understanding of the oil and gas market are instrumental in driving business initiatives and fostering relationships in the industry.
Outside the office, Jeff is equally committed to his role as a father of four. With an active role in his children’s lives, he can often be found in the stands at their sporting events, demonstrating a balance between professional responsibilities and family commitments.
“As a former business owner, I’m passionate about helping other businesses succeed. I truly enjoy the challenge of customizing our services and approach to meet the unique needs of every business I partner with. For me, there is no greater reward than helping a client realize success.”
– Jeff
Randy Hinojos
Vice President-Business Development
Randy, a West Texas native and Navy veteran, brings years of experience to the team. After the Navy, he spent 20 years in high-level retail management developing his passion for customer service and drive for finding solutions. He then spent 12 years working in both oilfield and over-the-road transportation including owning a hotshot business. He joined Velocity’s business development team in November 2023 and is an active member of three local chambers of commerce, including the Odessa and Midland Hispanic Chambers.
“I have first-hand experience working in the oilfield and understand the challenges of starting your own business. I also find connecting with people and helping others the most rewarding part of my day. My goal is to combine those things to provide our clients with a strong, long-lasting relationship and the best customer service in the factoring industry.”
– Randy
Claudia Barraza
Account Manager
Claudia Barraza, a native of West Texas, is a mother of three children. Growing up, Claudia found pleasure in cooking and spending quality time with her family and friends. She currently enjoys cooking, traveling with her family, attending concerts and watching sports. Claudia’s passion for helping people has always been key in her life, driven by the belief that empathy and sympathy for others is important. Joining Velocity in early 2023, Claudia brought 5 years of bilingual factoring experience with a focus in client relationship management. Her journey in finance began as an operations assistant in 2019 and has evolved into a dedicated account manager. She is eager to contribute to and watch the professional growth her clients and team.
“With my passion to help people, I pride myself in giving our clients peace of mind by always being willing to help resolve any issue or concern that might be there. Watching our clients grow is the ultimate goal.”
– Claudia
Chamber of Commerce Affiliations
Get Started Today
Increase your business’s cash flow with Velocity Financial. Discover our exclusive factoring services designed to help grow your business. Our dedicated team is committed to offering swift access to the funds essential for flourishing in today’s competitive market.
