Versa Bancorp’s Receivable Purchase Program involves purchasing loan and lease receivables from finance companies that operate throughout Canada and the USA providing financing in a variety of industries for both consumers and commercial entities. Many of these finance companies take advantage of new technologies to reach customers directly at the point of purchase. In this way, Versa Bancorp provides the much needed capital for small businesses and greater choice for consumers across Canada and the USA.  

Versa Bancorp has developed state of the art, high capacity systems that allow it to quickly process large numbers of small ticket loan and lease receivables.   

Versa Bancorp is at the leading edge of this method of financing and this business is now a major portion of the bank’s total assets and revenue stream.