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GCBC Closes 30 Hot Deals this Summer

GCBC Closes 30 Hot Deals this Summer

In the months of June and July, Gulf Coast Business Credit (GCBC) funded 30 new Factoring and Asset Based Lending relationships.

Among the 30 new client relationships were a $5 million working capital facility to a Texas based inspection services company, a $2 million working capital facility to a Florida based freight transportation company, a $750,000 working capital facility to a California based advisory company, and a $500,000 working capital facility to a Louisiana based staffing and oilfield services company.

The Texas based inspection services company was referred to GCBC by a broker. The company had a traditional line of credit, but realized the facility limit would no longer be enough to fulfill their cash flow demand.  The company chose GCBC for its invoice factoring needs because GCBC was able to provide the necessary capital they were seeking to double the size of their staff at a competitive rate with flexible terms.

The Florida based freight transportation company was referred to GCBC by a factoring professional who attended the International Factoring Association Convention held in April 2015. The company provides freight brokerage services through a network of agents located across the United States and Canada.

The California based advisory company learned about GCBC through another factoring firm. The company is privately held and provides advisory services in the financial sector.

Lastly, the Louisiana based staffing and oilfield services company learned about GCBC through a former client. The company provides skilled trades and labor staffing, as well as oilfield tool rentals and wireline services through a separate division. GCBC was able to provide the company with enough cash flow to take on new business they previously could not handle.

As a division of Gulf Coast Bank & Trust, GCBC helps provide accounts receivable financing to a variety of customers. GCBC is a leading provider of working capital finance throughout the United States with production offices located in Colorado, Georgia, Texas, and Louisiana. To contact GCBC, please call 866-577-8867, or you can email us at gcbcinfo@gulfbank.com.

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