Velocity Merchant Services Earns Female Business Enterprise Program (FBE) Certification From State of Illinois

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Velocity Merchant Services (VMS) earns their notable Business Enterprise Program certification as a 100% woman-owned business in the state of Illinois.

Velocity Merchant Services (VMS), a company specializing in credit card payments processing for businesses nationwide, received their Female Business Enterprise Program (FBE) certification from the state of Illinois on May 2, 2012. The certification opens the door for the woman-owned company to earn new business from the state’s government agencies.

Programs like the FBEP stimulate competition in the government purchasing and contracting arenas. They also promote the development of supplier/vendor diversity programs.

The application process was designed to identify women-owned businesses that exemplify diversity in the corporate world. Companies wishing to obtain FBE status from the state of Illinois must be at least 51% woman owned, earn less than $75 million annually and must provide proof of US citizenship.

Velocity Merchant Services, owned and founded by Ms Dema Barakat, passed a rigorous business review conducted by a team of case analysts at the Illinois' Central Management Services (CMS) office. Detailed paperwork including financial statements, business practices, management team backgrounds, corporate documents, birth records and much more were provided for consideration.

"It took nearly 7 months for our approval," states Lorraine Wolfe, Marketing Coordinator for VMS, "but we believe the certification presents us with an enormous opportunity to grow revenue and bolster our credentials in the electronic transactions industry."

ABOUT VELOCITY MERCHANT SERVICES

Since 1998, VMS (http://getvms.com) has remained Illinois' largest inside telesales organization for credit card payments processing. While saving the average business owner between 20-50% on their processing costs, VMS helps them increase their sales by 30% or more by setting them up to accept credit cards, debit cards and gift cards. Customers can also request professional web development services and secure access to capital through their Fast Cash program. They are continuously growing their small business offerings to better serve their merchants.

Find VMS on Facebook (http://www.facebook.com/getvms) for breaking company news and industry updates.

About ILLINOIS' BUSINESS ENTERPRISE PROGRAM

Illinois’ Business Enterprise Program promotes the economic development of businesses owned by minorities, women and people with disabilities. State agencies and universities have a goal to buy at least 20% of goods and services from BEP certified businesses.

Find Velocity Merchant Services on Illinois' BEP Vendors Directory: https://www2.illinois.gov/cms/business/sell2/Pages/VendorSearch.aspx.

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Lorraine Wolfe
VMS
888-902-6227 601
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