Meet Our Team Of
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 factoring 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 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 traditional 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.
President & CEO
Wright Wommack was born and raised in Midland, TX. Wright holds a BBA in Finance from the University of Texas and a JD from the University of Texas School of Law. Wright’s previous experience includes founding Atlas Bend Capital, a company focused on real estate and other opportunistic investments. Wright’s experience prior to founding Atlas Bend includes practicing corporate law at Vinson & Elkins and working as an investment banker for Credit Suisse in Houston, TX.
“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.”
Chairman of the Board
H. H. “Tripp” Wommack III, a native of Texas, with BA’s from North Carolina Chapel Hill and JD University of Texas, 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.”
Senior Vice President – Underwriting & Credit
Raised in Midland, Justin has been assisting oil & gas service companies achieve their goals for the past 12 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. 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”.
Senior Vice President – Operations & Compliance
Graduating from the University of Texas Permian Basin in 2010, Irene accepted a position as Account Manager for a local 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 of 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. “
Senior Vice President
Ballard Johnson was born in Shreveport, LA. He graduated from Regis University in 2010 and completed his MBA at Rice University in 2017. Ballard’s previous experience includes co-founding Secunda Capital Partners, a company focused on the acquisition of Manufactured Home communities 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 3 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.”
Senior Vice President – Head of Business Development
Ryan Austin has worked various positions within the banking and specialty finance space the last 18 years prior to joining Velocity Financial, sourcing opportunities in ABL, factoring, and equipment finance throughout the United States.
Previously, Ryan was a principal with Traditions Commercial Finance, and then the last few years with Catalyst Financial. He has become a recognized leader in business development and for maintaining a long-term following with his clients. Ryan’s experience and his compassion for building a solid foundation of trust is realized by each business owner and those referring opportunities to Velocity.
“Most people don’t understand an entrepreneur’s mindset where they walk away from a full-time job; a known income to something completely unknown. I understand the entrepreneur’s stresses, risks, and failures. Been there. Done that. It all boils down to cash flow, and the ability to allow it to work for you. A partner like Velocity affords one to better manage the typical financial stresses of running a business and allow for more time continuing to build it.”