Gulf Coast Business Credit Welcomes 2020 Summer Interns!
Gulf Coast Business Credit (“GCBC”), the working capital finance division of Gulf Coast Bank & Trust Co., is excited to welcome its 2020 interns, Max Wrba and Addison Baker. The internship program at GCBC offers a well-rounded and hands-on experience that gives participants exposure to all sectors of ...
GCBC Celebrates 20 Year Anniversary in 2020
On February 1, 2020, Gulf Coast Business Credit (“GCBC”), a division of Gulf Coast Bank & Trust Co. (“Gulf Coast Bank”), announced the celebration of its 20th Anniversary as a leader in accounts receivable finance and asset based lending. Over the last 20 years, GCBC’s commitment to thousands of valued client relationships, partners and employees has provided growth for businesses and prosperity for families across the United States.
GCBC finishes strong Q3 with 43 fundings
Gulf Coast Business Credit (“GCBC”) had a great third quarter, closing 43 new Accounts Receivable Factoring and Asset Based Lending (ABL) deals. Amongst the new deals funded were a $4,000,000 working capital facility to a Louisiana based staffing company, a $300,000 working capital facility to a Texas based manufacturing company and a $200,000 working capital facility to a California based transportation company.
Gulf Coast Business Credit Welcomes 2019 Summer Interns!
Gulf Coast Business Credit (“GCBC”), the working capital finance division of Gulf Coast Bank & Trust (“GCB”), is pleased to announce its new team of interns for summer 2019. GCBC offers interns hands-on training in finance, sales/marketing, accounting and underwriting. Meg Roberson, GCBC’s Senior Vice President noted, “We are thrilled to welcome Lacey Bohanan, Kyle Hladky, Will Huber, Mike Mondragon and Sam Wheeler to GCBC. Our internship program is critical to our talent recruiting as we seek to hire and foster the next generation of GCB leaders.”
What is Temporary Staffing Factoring and How Does it Work?
All temporary staffing agencies need access to working capital in order to consistently make payroll. And for staffing companies experiencing growth, the importance of reliable access to cash is even greater. This is why many temporary staffing agencies finance their payroll through factoring companies.
Commercial Bank Introduces GCBC and Provides a Customized Solution for their Client
Recently, Gulf Coast Business Credit (GCBC) was able to provide a $150,000 working capital facility to a South Texas based oilfield services company. The company was referred to GCBC by a commercial lender that could not get the company approved for an increase to their line of credit.
The oilfield services company has operated for over 30 years and services not only the oilfield but commercial, residential and livestock/agricultural industries. In order to improve cash flow and take on additional business in the oilfield sector, the company was referred to GCBC. Having referred companies to GCBC in the past, the commercial lender trusted that GCBC would offer the best solution and was able to educate the company on financing options outside of traditional banking instead of sending the company away with a simple “No, we can’t help.” GCBC gave the lender a “Yes” to offer their client.
GCBC was able to carve out and factor a concentrated debtor for the company while the bank maintained the ancillary services and a portion of the working capital facility outside of the concentration. Even though a traditional banking solution was not provided, the commercial lender was able to maintain a good relationship with this company and provide a customized solution through partnering with GCBC.
Gulf Coast Business Credit (GCBC) owes much of their success to bank referral sources. GCBC is currently hosting a Referral Rewards program through the month of January. If you send us a prospect and that prospect becomes a client, we’ll send you a Bose SoundLink Bluetooth Speaker. You only need to refer us the deal in January to qualify. As long the deal closes sometime in 2015, you’ll be in “Bose-ness.” Get it?
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Article Posted On: January 27, 2015