Other News
-
GCBC 20th Anniversary - Employee Growth
This year, GCBC celebrates its 20th anniversary, and we thought we'd take a moment to look back on some of our past accomplishments. Since the company was founded in 2000, GCBC has grown from 5 to 170 employees! Over the last 20 years, GCBC’s commitment to our valued employees has provided prosperity for families across the United States.
-
GCBC 20th Anniversary - States
This year, GCBC celebrates its 20th anniversary, and we thought we'd take a moment to look back on some of our past accomplishments. Since the company was founded in 2000, GCBC has funded deals in over 48 states! Over the last 20 years, GCBC’s commitment to our valued client relationships has provided growth for businesses and prosperity for families from South Carolina to California, and almost everywhere in between!.
-
GCBC 20th Anniversary - Clients
This year, GCBC celebrates its 20th anniversary, and we thought we'd take a moment to look back on some of our past accomplishments. Since the company was founded in 2000, GCBC has funded over 5,000 clients!
-
IFA Appoints GCBC’s Meg Roberson to Advisory Board
Gulf Coast Business Credit (GCBC), the Factoring, Accounts Receivable Finance and Asset-Based Lending Division of Gulf Coast Bank & Trust Co. (GCB&T), is proud to announce that the International Factoring Association (IFA), the world’s largest association of commercial finance companies, has appointed GCBC’s Meg Roberson as a new Advisory Board member.
-
IFA Appoints GCBC’s Meg Roberson to Advisory Board
Gulf Coast Business Credit (GCBC), the Factoring, Accounts Receivable Finance and Asset-Based Lending Division of Gulf Coast Bank & Trust Co. (GCB&T), is proud to announce that the International Factoring Association (IFA), the world’s largest association of commercial finance companies, has appointed GCBC’s Meg Roberson as a new Advisory Board member.
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.
The Louisiana based staffing company factored with GCBC for many years and then graduated out of factoring to a traditional bank line of credit at a local financial institution as their revenues became more consistent year over year. The company recently closed several new contracts in a very short period of time. This spike in new business made cash flow management somewhat challenging as their rapid sales growth outpaced cash flow. The company’s bank was not willing to ride this “roller coaster” with the company and declined the company’s request to increase their loan. As a result, the company reached back out to GCBC for factoring. Through specialized monitoring of credit and collateral, factoring offered the company more availability. GCBC was happy to renew the relationship and was able to provide a $4,000,000 working capital facility. With GCBC’s funding secured, the staffing company’s amazing growth run continued.
The Texas-based manufacturing company was referred to Gulf Coast by an independent broker. The company was looking to move to a factor with industry expertise as the company’s current factor was limiting their overall availability due to lack of payment history from customers. GCBC had credit history with the company’s customers and approved debtor limits to match the upcoming needs of the company. On top of additional availability, GCBC lowered pricing. The move to GCBC allowed this company to take advantage of top line and bottom line growth.
The California based transportation company was founded by two individuals with almost a decade of industry experience whom finally decided to start their own company. GCBC funded the company’s first invoices. Since the initial funding the company has increased monthly sales an average of 75% year-to-date.
As a division of Gulf Coast Bank & Trust Company, GCBC provides accounts receivable factoring 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, Louisiana and Texas. To contact GCBC, please call 866-577-8867, or you can email us at gcbcinfo@gulfbank.com.
To stay informed with current promotions at GCBC and discuss ongoing issues the accounts receivable factoring industry faces, GCBC formed a group on LinkedIn. Click here to join this group.
| Invoice Factoring | Small Business Finance |
| What is Factoring? | Temporary Staffing Factoring |
| Accounts Receivable Factoring | Financing Alternatives |
| Freight Factoring | Asset Based Lending |
Article Posted On: October 29, 2019