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.
Kick Off Fall with Referral Rewards and Win a Yeti Cooler!
Gulf Coast Business Credit would like to acknowledge those who’ve helped shape our business. With our Referral Rewards program, if you send us a prospect and that prospect becomes a client, we’ll send you a Yeti Tundra 35 cooler with your favorite college or pro team's logo. You only need to refer us the deal before Halloween to qualify. As long as the deal closes before next Halloween, you’ll be ready for adventure with a new Yeti Tundra cooler!
Hurricane Harvey Assistance
Calling all Lone Star State fans! Join us to help support friends and family affected by Hurricane Harvey.
Gulf Coast Business Credit Welcomes 2017 Summer Interns!
Gulf Coast Business Credit (“GCBC”), the working capital finance division of Gulf Coast Bank & Trust, is pleased to announce its new team of interns. GCBC looks forward to spending the summer with Aaron Renaud, Ben Pfeffer, Kelsey Daiber and Sara Samani.
GCBC kicks off 2017 by funding 101 New Deals
Gulf Coast Business Credit (“GCBC”) started 2017 off right with 101 new Accounts Receivable Factoring and Asset Based Lending (ABL) relationships.
GCBC Provides Funding to Variety of Staffing Companies
Over the years, Gulf Coast Business Credit (“GCBC”)’s accounts receivable factoring has helped a variety of staffing companies grow.
Amongst the new Accounts Receivable Factoring and Asset Based Lending (ABL) relationships funded in 2016 to staffing companies, there was a $90,000 working capital facility to a Kansas based staffing company, a $250,000 working capital facility to a California based staffing company, and a $1.25 MM working capital facility to a California based staffing company.
The Kansas based staffing company who was provided a $90,000 working capital facility was referred to GCBC by a community banker. The company provides temporary nurse staffing to healthcare facilities located in Kansas and Louisiana. In order for the company to meet payroll and other expenses, they needed more availability than their current factoring company was able to provide. The company chose GCBC for it accounts receivable factoring needs for a variety of reasons including flexible terms, competitive rates, and their expertise in the staffing industry.
The California based staffing company who was provided a $250,000 working capital facility was referred to GCBC by a broker. The company specializes in providing administrative and industrial staffing. Since this staffing company was a start-up company with no historical financials, the company was unable to qualify for traditional banking. GCBC’s accounts receivable finance product was able to provide the company with the financial support they needed in order to grow without giving up equity.
Lastly, the California based staffing company who was provided a $1.25 MM working capital facility was referred to GCBC by a broker. The company provides staffing solutions, recruiting services and consulting services on safety to clients within the manufacturing, warehousing, and distribution industries. Instead of waiting on payments from clients for up to 90 days, GCBC’s staffing factoring will allow the staffing company to receive immediate payments and help control their cash flow.
Gulf Coast Business Credit understands the unique challenges of the staffing industry and can provide the financial support staffing companies need to help manage growth, take advantage of opportunities or help fund payroll. If your staffing company is tired of paying high factoring fees, be sure to check out our Staffing Factoring Experts promotion that ends on April 30, 2016.
Please join GCBC’s LinkedIn Staffing Industry Group by clicking the following link: Gulf Coast Business Credit Staffing Industry Group.
Article Posted On: April 26, 2016