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.
GCBC Hires Vincent Miller as Credit Analyst/Underwriter
Gulf Coast Business Credit (“GCBC”) has experienced impressive growth over the first half of 2018. This not only applies to portfolio growth, but also to the size of the underwriting team. For the second time in 2018, a new Credit Analyst/Underwriter has been added to the team! GCBC is proud to welcome Vincent (“Vince”) Miller as a Credit Analyst/Underwriter for its Austin, Texas location.
Gulf Coast Business Credit Hires Aaron Renaud as New Underwriter
Austin, TX - Gulf Coast Business Credit (“GCBC”), a nationwide provider of accounts receivable finance and asset based lending, is pleased to announce the recent hiring of Aaron Renaud as Underwriter in their Austin, TX location. “We are excited and feel fortunate to welcome Mr. Renaud to the GCBC team. Aaron will play a key role to support recent portfolio acquisition and continued organic growth,” said Meg Roberson, GCBC’s National Sales Manager.
GCBC Assists in Hurricane Harvey Relief
While Hurricane Harvey has come and gone, the devastation it brought continues to be felt throughout the Texas coast and other affected areas. Thankfully, we are nearing the end of hurricane season (officially November 30th, with peak season ending October 31st), but relief efforts to help those who’ve been affected have not.
Gulf Coast Business Credit (“GCBC”) has offices in two of the hardest hit cities – Houston and the Corpus Christi area, with many employees and their families residing in affected areas. While GCBC, as a company, has been quick to respond to the statewide crisis, individual employees residing in non-affected areas have worked together even more quickly to jump in and organize additional relief efforts.
GCBC employee and Dallas resident Troy Zupancic did not waste any time coming up with a tangible way he could jump in and help victims of Hurricane Harvey. Troy, a business development officer at GCBC quickly realized he could utilize his professional network that includes various contacts in the transportation industry to catapult his relief efforts. Zupancic organized virtually all of the logistics of a large operation. Zupancic asked Aim Global Logistics to donate one of the company’s trucks to deliver donations collected by six local churches and arranged a driver – who would make multiple stops to donation centers across South Texas to deliver essentials including tools, food, water, diapers, and more. Perhaps the most touching detail of the entire operation was the fact that the truck driver herself had also been drastically impacted by Harvey. She generously (and without expecting anything in return) donated her time to drive a truck full of donations to donation centers across South Texas.
Zupancic wasn’t the only employee to jump in and donate time to the relief effort. National Sales Manager Meg Roberson was also eager to help the coastal cities, including Port Aransas, the place she called home for 18 years. Roberson spent the day leading the caravan, which included AIM Global Logistics and an Episcopal school bus loaded with volunteers, across south Texas to multiple donation sites. Roberson also had the opportunity to personally deliver prepaid Visa gift cards (prepaid by donors as a result of the GCBC campaign) to individuals who were in dire situations. For more details, click here.
Among the gift card recipients was a man who was living in a trailer, taking care of his handicapped daughter and his grandchildren. The man had lost his house and was living on a fishing boat furnished to him by his former employer. He said the boat was only available because his employer had lost all business as a result of the storm’s disruption to the city’s tourism industry.
Another grateful recipient Roberson had the pleasure of meeting was a single mom who worked for the school district. Unable to afford flood insurance, this woman had lost everything and was very happy to receive a prepaid gift card she could use to start to replace her belongings.
The hurricane that lasted about 2 weeks, will go down as one of the most destructive natural disasters in U.S. history damaging over 100,000 homes* and displacing over 30,000 people from 50 different counties across Texas.** As big as the impact has been, the hearts of people willing to step in and help has been even bigger. We at Gulf Coast are so proud and grateful to have employees with hearts the size of Texas who are always willing to do whatever it takes to help those in need. Gulf Coast is requesting that we not forget about those left behind as a result of Harvey. Donations are still needed as many areas affected are not expected to fully recover for several years. If you are looking for a way to help those affected, please click through to our website for more information. Donations may be made with a note from your company, from you individually or anonymously.
* Link: San Diego Tribune
** Link: The Guardian
Article Posted On: October 25, 2017