Q: What is factoring?
A: Factoring is the term used to describe the sale of invoices or accounts receivable. It is also referred to as accounts receivable financing and asset-based lending.
Q: Who factors with GCBC?
A: Gulf Coast Business Credit factors most business-to-business receivables. We have over 10 years of experience in factoring and offer the best service and pricing in the industry.
Q: Do I have to make a long-term commitment?
A: No, we don’t believe that we need to handcuff our factoring clients with long-term contracts. We are confident that our service and pricing are the best in the industry, and you will want to continue doing business with us.
Q: Are there monthly minimums?
A: No. You should only factor the invoices you need to meet your cash flow needs.
Q: How do I get started?
A: Complete the application on this website and fax it to us at 985-626-6980. Once you are approved we will fax, email or overnight the documents you need to start converting your invoices to cash.
Q: How long does it take to receive payment for my unpaid invoices?
A: We fund invoices the same day we receive them. Cash is wired directly into your bank account the same day we receive completed invoices from you.
Q: How much does it cost?
A: We’re not competitive. We are the competition. Because of our bank affiliation, Gulf Coast has a less expensive cost of funds than most factoring companies, and we pass those savings along to you in the form of lower fees. There are no hidden fees, and clients also get the services of our credit department and lockbox services at no additional cost.