Exhibit 31.1

SECTION 302 CERTIFICATION PURSUANT TO SARBANES-OXLEY ACT OF 2002

I, John C. Kleinert, Chief Executive Officer of Velocity Asset Management, Inc.
(the "Small Business Issuer") do hereby certify that:

      1. I have reviewed this quarterly report on Form 10-QSB of Velocity Asset
Management, Inc;

      2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

      3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the Company as of,
and for, the period presented in this report;

      4. The Small Business Issuer's other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules13a-15(f) and
15d-15(f)) for the Small Business Issuer and have:

            (a) Designed such disclosure controls and procedure, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the Small Business Issuer,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this report is being
prepared;

            (b) Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;

            (c) Evaluated the effectiveness of the Small Business Issuer's
disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and

            (d) Disclosed in this report any changes in the Small Business
Issuer's internal control over financial reporting that occurred during the
Small Business Issuer's most recent fiscal quarter that has materially affected,
or is reasonably likely to materially affect, the Company's internal control
over financial reporting; and

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      5. The Small Business Issuer's other certifying officer and I have
disclosed, based on our most recent evaluation or internal control over
financial reporting, to the Small Business Issuer's auditors and the audit
committee of the Small Business Issuer's board of directors (or persons
performing the equivalent functions):

            (a) all significant deficiencies and material weaknesses in the
design or operation of internal controls over financial reporting which hare
reasonably likely to adversely affect the Company's ability to record, process,
summarize and report financial information; and

            (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the Small Business Issuer's
internal control over financial reporting.

                                            /s/ John C. Kleinert
                                            --------------------
                                            John C. Kleinert
                                            Chief Executive Officer

November 14, 2007