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GCBC Funds 15 Deals in September

GCBC Funds 15 Deals in September

In the month of September, Gulf Coast Business Credit (GCBC) funded 15 new Factoring and Asset Based Lending (ABL) relationships.

Amongst the 15 new client relationships there was a $10 million working capital facility to a Texas based technology consulting company, a $500,000 working capital facility to a Kentucky and Indiana based transportation company, and a $150,000 working capital facility to a Louisiana based medical coding company.

The Texas based technology consulting company was referred to GCBC by a commercial lender for its working capital needs. The company provides multiple technology solutions to a variety of industries. In order for the company to continue to expand globally, they needed more availability than their current factoring company was able to provide. The company chose GCBC for its accounts receivable finance needs because GCBC was able to provide a much larger facility than its current factor along with flexible terms and competitive rates.

The transportation company with locations in Kentucky and Indiana learned about GCBC through a digital advertisement campaign. The company has a fleet of 4 trucks and specializes in hauling auto parts throughout the US. With customers paying on an average of 35 days, the company chose GCBC for its freight factoring expertise in order to concentrate on growth rather than stress about their cash flow constraints.

Lastly, the Louisiana based medical coding company was referred to GCBC by a community banker. The company is comprised of Registered Nurses who specialize in Home Health Coding and OASIS Medical Reviews. The company chose GCBC for its invoice factoring needs for a variety of reasons including immediate funding, competitive rates and flexible terms.

As a division of Gulf Coast Bank & Trust Company, 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, Louisiana, Oklahoma, 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 financing industry faces, GCBC formed a group on LinkedIn. Click here to join this group.

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