Other News
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GCBC Celebrates 20 Year Anniversary in 2020
On February 1, 2020, Gulf Coast Business Credit (“GCBC”), a division of Gulf Coast Bank & Trust Co. (“Gulf Coast Bank”), announced the celebration of its 20th Anniversary as a leader in accounts receivable finance and asset based lending. Over the last 20 years, GCBC’s commitment to thousands of valued client relationships, partners and employees has provided growth for businesses and prosperity for families across the United States.
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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.
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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.”
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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.
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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.
GCBC Starts New Year Off With A Bang By Funding 15 Deals In January
Gulf Coast Business Credit (“GCBC”) started the New Year off with a bang! In the month of January, GCBC funded 15 new Accounts Receivable Factoring and Asset Based Lending (ABL) relationships.
Amongst the 15 new client relationships there was a $3 million working capital facility to a Texas based manufacturer and distributor, a $500,000 working capital facility to a Louisiana based oilfield service company, a $300,000 working capital facility to a California based transportation company, and a $90,000 working capital facility to a Kansas based staffing company.
The Texas based manufacturer and distributor was referred to GCBC by a broker. The company manufactures and distributes fixtures and displays for a variety of retail stores located worldwide. As the company continues to diversify their markets and grow globally, they needed more availability than their current factoring company was able to provide. The company chose GCBC for its invoice factoring needs because GCBC was able to provide a much larger facility than its current factoring company along with flexible terms and competitive rates.
The Louisiana based oilfield service company was referred to GCBC by a community banker. The company provides onshore and offshore construction and maintenance services. To remain competitive within the oilfield service industry, the company is offering more services which requires more cash flow. GCBC was able to provide the company with enough cash flow in order to take on new business and provide additional services they previously could not handle.
The California based transportation company was referred to GCBC by a freight broker. The company has a fleet of 3 trucks and specializes in hauling flatbed loads throughout the US. With over 20 years of dedicated experience in the transportation industry, the company chose GCBC for its expertise along with immediate funding, flexible terms, and competitive pricing. The company will now be able to concentrate on their growth rather than stress about cash flow.
Lastly, the Kansas based staffing company 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 within the staffing industry.
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, 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 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: February 15, 2016