Gulf Coast Business Credit: Invoice Factoring & Accounts Receivable Finance Company

Oil & Gas

Gulf Coast Quick Quote

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Oil & Gas

Gulf Coast Business Credit specializes in oil and gas industry accounts receivable financing and asset-based lending. We are proud to support this growing industry and have specialists available and ready to answer your questions. GCBC is eager to factor your company’s outstanding invoices, so that you can focus your energy toward more positive things such as payroll and new contracts.

As an experienced factoring company, GCBC understands that the oil and gas industry is very busy, so we make this process as simple as possible. All you have to do is send us any outstanding invoices you are awaiting payment for, and we make sure you receive those funds the same day.

GCBC has representatives available to serve clients nationwide.

A few benefits of factoring with GCBC:

  • Competitive pricing that is usually 50% lower than competitors
  • No monthly minimums
  • No long-term contracts
  • Professional and comprehensive accounts receivable finance and asset-based lending, including credit reviews and collection assistance upon request

Oil and Gas Case Study

  • Problem: Gulf Coast Business Credit was referred to an oilfield service company located in Houston, Texas that had a large concentration ($1.6MM) in Lyondell (pre-bankruptcy) receivables with a total facility size of $3.5MM. The oil company was transitioned into the bank’s special assets department a month after the announcement of the Lyondell bankruptcy. The oil company was on the verge of bankruptcy at this point as well, they could not cover payroll and the bank was not willing to provide additional availability.
  • Solution: GCBC worked with the oil company and the special assets division of the bank to pay down the line of credit by utilizing receivables other than Lyondell to immediately reduce the bank’s exposure. The bank termed out the Lyondell portion of the line and entered into an intercreditor agreement with GCBC where GCBC held back 4% of each funding to the oil company which was wired directly to the bank monthly in addition to the monthly term payment made by the company until the bank was paid off in full.
  • Amount: $1.6MM
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