Accounts Receivable Firm Expanding in Wayne County

Published on 11/4/2013


RICHMOND, Ind. (Nov. 4, 2013) - Finance System of Richmond, an accounts receivable management firm, announced plans today to expand its operations here, creating up to 42 new jobs by 2016.
The homegrown-Hoosier company will invest $800,000 to renovate and equip a new 11,085 square-foot facility located at 5703 National Road East in Richmond. The expansion, which will be fully operational by April 2014, will allow the company to expand its new division, RadiologyBill, which offers billing and collection services for radiologists across the country.
"Homegrown-Hoosier companies like Finance System remain the heart and soul of this state, creating jobs and opportunities for people across Indiana," said Eric Doden, president of the Indiana Economic Development Corporation. "With decreasing taxes and regulations, along with our central location and world-class workforce, I'm proud to be able to call Indiana a state that works." 
Finance System, which currently employs 17 full-time associates, plans to begin hiring administrative assistants, call center representatives and legal clerks in June 2014. Interested applicants may submit a resume to or at any Indiana WorkOne location.
"Those of us at Finance System have been fortunate to have 30 and 40 year veterans pass down their knowledge, skill and expertise to our staff today," said Chris Coleman, vice president of Finance System. "Mixing this element with today's technology and very success-driven employees, we've produced results nearly doubling our industry average. Making this large investment in marketing and infrastructure in the pro-business state of Indiana is really a no-brainer. Indiana offers the best springboard to success when taking the risk of growing your existing company without being overtaxed or overregulated in the process."
Founded in 1955, Finance System is a third generation, family-owned accounts receivable management firm, helping medical, educational and utility companies as well as municipalities reduce losses through collection resources. With the personal service of a family-owned firm and the technology of a large global agency, Finance System manages more than $40 million in accounts receivable annually and has doubled in size in the last year. Finance System is a member of the American Collectors Association, with company leaders previously holding positions on its board and on the board of the Indiana Collectors Association.
The Indiana Economic Development Corporation offered Finance System of Richmond up to $190,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Richmond will consider additional incentives at the request of the Economic Development Corporation of Wayne County.
"It's wonderful that this third generation, family-owned business has decided to remain in Richmond and expand their company, creating over 40 new jobs," said Richmond Mayor Sally Hutton. "This is a great project for our community and we're glad they're making this investment here."
Businesses founded in Indiana continue to grow the state's economy. Just this year, more than 30 homegrown-Hoosier companies have announced plans to expand operations in Indiana, investing more than $173 million into the state and creating upwards of 3,000 new projected jobs.
About Finance System
Finance System, Inc. is a third generation family owned and operated accounts receivable management firm servicing companies since 1955. Decades of experience and the latest technology allows us to have results beyond a large global agency. We use the personal attention of a family owned business. We are a member of the American Collectors Association and through the years have held many positions on the board of directors of the Indiana Collectors Association and the American Collectors Association. Finance System, Inc. manages over $20 million in accounts receivable annually.  For more information, visit
About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC. 
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit
- 30 -
Media Contacts: 
Chris Coleman (Finance System) - 765.962.7500, ext. 422 or
Katelyn Hancock (IEDC) - 317.234.2294 or

Related Links:
11610 North College Avenue
Carmel, Indiana 46032
317-573-9955    317-575-3372 (fax)

Please wait...