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 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 firstname.lastname@example.org.
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.
Article Posted On: October 15, 2015