Wednesday, Feb. 07, 2007, 07:00 PM UPDATED 11:59 AMBy Nick Zulovich
YORBA LINDA, Calif. — In addition to reporting two new partnerships, Flex Fund Financial Services LLC, which specializes in providing inventory financing, announced it has relocated to a larger corporate headquarters in Yorba Linda, Calif.
"Our new offices better accommodate our current needs, while at the same time providing room for near-term growth," explained Cliff James, chief executive officer.
"Flex Fund is establishing itself as a leader in auto-inventory financing," he continued. "With a newly expanded base of operations, state-of-the-art infrastructure, a growing list of auction partners and a unique range of financial services, we're able to respond to the needs of car dealers, salvage recyclers and rebuilders anywhere in the continent."
The company said it also has offices in Minneapolis, Minn.
Flex Fund's new address is 22800 Savi Ranch Parkway, Suite 110, Yorba Linda, CA 92887.
The company's prior headquarters was in Newport Beach, Calif.
Flex Partners with DataScan
Flex Fund also announced it has signed a three-year agreement with DataScan Technologies LLC to provide systems and services for wholesale financing and inventory floor planning.
Using the DataScan solution in conjunction with custom-developed software, Flex Fund said it can provide dealers and auctions with convenient access to manage their business.
DataScan specializes in creating software that uses the Internet to provide financial institutions with faster, secure communications for managing floor plan collateral.
DataScan's said its Wholesale Management System is specifically designed to provide the floor plan industry with real-time information necessary to manage corresponding risk and stay competitive.
To learn more about DataScan Technologies, visit .
Flex Fund Teams Up with Verastar
Finally, Flex Fund announced it has entered into a multi-auction operating agreement with Verastar, an independent salvage auction group.
Through the deal, Flex Fund will partner with seven Verastar auctions in Georgia, Tennessee and North Carolina, including Verastar's regional Atlanta auctions, to provide turnkey inventory financing for Verastar's salvage buyers.
"Verastar is recognized and respected for providing leading-edge auction technologies and superior customer service," said James.
"Verastar's well-established presence in the salvage auction market, combined with Flex Fund's innovative inventory financing options, creates the perfect solution for today's salvage buyers," he concluded.
For more information on Flex Fund, call (866) 499-FLEX, or visit .