Subprime auto finance company Veros Credit is going through what leadership called a “strategic realignment,” which includes the closing of two facilities as well as the hiring of a new senior vice president of sales and marketing.

First, Veros Credit, which is based in southern California’s Orange County, announced immediate plans to close its Nevada and Arizona dealer center locations.

“Our focus is on reducing costs, utilizing technology to increase efficiencies, maximizing productivity, and leveraging the advantages of a more centralized and growth-oriented business model,” Veros Credit chief executive officer Cyrus Bozorgi said in a news release.

“The decision to close these dealer centers is part of a long-term strategic realignment that will streamline operations and promote a more unified and modern operation,” Bozorgi continued. “Since we began this process in 2014 with the centralization of our loan servicing operations followed by our underwriting and funding operations in 2015, we have seen an increase in production while significantly decreasing our time to fund.

“We continue to seek out opportunities to craft the best possible auto finance business model to deliver prompt, responsive, and distinguished service to our dealer clientele,” he went on to say.

In conjunction with the dealer center closures, Veros Credit announced the arrival of Vic Amin as senior vice president, sales & marketing. 

“Vic recently joined the Veros Credit team and immediately began developing a comprehensive approach to grow our brand and increase market share,” Veros Credit chief operating officer Harvey Singh said. “Part of that approach is a strong hiring initiative that will expand our sales force and allow us to meet the increasing demand for our services in existing and planned territories.

“We are confident that Vic and his team will exceed our expectations,” Singh went on to say.

Reporting to Amin will be:

—John Pierce, western regional vice president

—Blas Lozano, central regional vice president

—Steven Gregory, eastern regional vice president

“John, Blas and Steven have made significant contributions to Veros Credit, each demonstrating a commitment to improving systems and processes, and advancing technology and programs that will allow us to meet the needs of our dealers and customers as quickly as possible without any negative impact from the closures,” Singh said.

“The auto finance industry is becoming an increasingly complex market environment and we have realigned our organizational structure to take advantage of our growth and technological progress,” he continued. “Advancements in technology have changed the way we do business by allowing for efficiencies that make every interaction faster and easier and we’ve applied those advancements across all areas of our business.

From our expanded digital platforms and online payment solutions to our newly implemented HR and recruiting software, we are prepared to adapt and deliver on the challenges of the future as market and economic conditions change,” Singh went on to say.

For more information about Veros Credit, visit www.veroscredit.com.