Monday, Aug. 13, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
YORBA LINDA, Calif. — Flex Fund Financial Services has recently signed operating agreements for inventory financing with 10 new independent auctions.
The additional agreements bring the company's total signed auctions to 310, including about 150 whole-car and 160 salvage auctions, respectively, officials noted.
"In less than one year in operation, Flex Fund has established a solid base of customers in the used, new-car and salvage markets," said Cliff James, Flex Fund's chief executive officer.
"Methodical expansion, key new employee hires and strategic alliances have allowed us to deliver our innovative inventory financing options to a growing number of dealers and salvage buyers. It is our goal to further increase our reach in the marketplace by continuing to expand the network of auction partners that we serve," he pointed out.
In addition to existing agreements with a multitude of independent auctions and all of the major national auction chains, Flex Fund recently signed a range of new independent auctions including: Bristol Auto Auction, of Bristol, Tenn.; Inventory Management, of Thousand Oaks, Calif.; I-10 Auto Auction, of San Antonio, Texas; Contract Services Auction Center, of Otay Mesa, Calif.; Dealers Auto Auction of the Rockies, of Denver, Colo.; Dealers Auto Auction of the Southwest, of Phoenix, Ariz; East Tennessee Auto Auction, of Fall Branch, Tenn.; Lone Star Auto Auction, of Lubbock, Texas; Sparkling City Auto Auction, of Corpus Christi, Texas; Quartz Dealer Direct Auto Auction, of Anaheim, Calif.; and Waco Midway Auto Auction, of Waco, Texas.