The Las Vegas Informer
By Guy Dawson
The age old practice of bartering for goods and services has taken on a high tech twist in the new millennium. Trade Bank, a twenty five year old company based in Lawrenceville, Georgia has brought its automated trade and barter network to Las Vegas and regional director Joe Lotito said that local small businesses can benefit from its cashless currency system.
“Trade Bank of Las Vegas allows small mom and pop businesses to compete on a global scale,” he said. “Our systems are well organized and they allow businesses to do transactions with one another all over the world.”
“Barter has incredible benefits and Trade Bank’s community-driven networks have helped thousands of businesses to grow on a virtually cashless basis.”
Members of Trade Bank’s barter network trade their products and services with one another and accept trade dollars as a secondary form of currency. No cash is exchanged. Participating businesses are issued a debit card and all transactions are tracked through an automated system.
Trade Bank of Las Vegas charges its member businesses a 12% fee per barter transaction.
“Being a member of Trade Bank of Las Vegas allows businesses to get the products and services they need to function and expand and conserve their cash for strictly cash expenses,” Lotito said. “It also brings them cash business based on the word-of-mouth referrals they receive from satisfied members of the network.”
Trade Bank boasts more than 70 exchanges in the US, Canada and the Czech Republic and according to Lotito, has completed more than 2 million transactions in its 25 year history.
“Trade Bank of Las Vegas has set itself far above its competition,” he said. “The length of time that we have been in the barter network business and our automated systems cannot be matched by any other company.”
“We are also very proud of the list of the corporations who are members of our network.”
Corporate clients of Trade Bank include Domino’s Pizza, Holiday Inn, Jackson Hewitt Tax Services, Gold’s Gym, Baskin Robbins, AAMCO Transmissions, True Value, TCBY and GNC.
Lotito said that changes in the Las Vegas economy led him to take a look at Trade Bank of Las Vegas as a business opportunity.
“I have a lot of background in sales and marketing and when I looked at Trade Bank of Las Vegas, I could see that it had a lot of potential,” he said.” This is a solid company that has been around a long time and I know that I am on the ground floor of something that will explode.”
According to Lotito, getting Trade Bank of Las Vegas started has been challenging but he is committed to building the network in a professional way.
“It has been a totally exciting experience so far,” he remarked. “The Trade Bank corporate people have been giving us a lot of support and that has really helped.”
Harry Williams, Corporate Accounts Manager with Trade Bank of Las Vegas sees the barter system as a way of establishing credit.
“Barter, when used correctly is your own pre-approved credit line,” he said
Vegas Valley Beverage, ADT Alarm Systems, Wild Orchid Flowers & Gifts and Quick Laptop Repair head the list of local companies that have joined Trade Bank of Las Vegas thus far.
“We are taking a hands-on approach with the businesses we are bringing into the network, Lotito said. “Our goal is to educate the business community about the power of barter exchanges.”
Trade Bank of Las Vegas is located at 112 Water Street Suite #110 in Henderson. For more information call 425-2676 or visit tradebankoflasvegas.com.