Other News
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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.
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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 STRENGTHENS RELATIONSHIP WITH ONE OF INC. MAGAZINE’S & AUSTIN BUSINESS JOURNAL’S FASTEST GROWIN
As a division of Gulf Coast Bank & Trust Company (GCB), Gulf Coast Business Credit (GCBC) offers companies the best of both worlds: a bank relationship with the flexibility and customization of a specialty lender.
In 2013, GCBC’s Meg Roberson provided a $5 million working capital facility to One Source Networks (OSN), an Austin, Texas based communications company specializing in delivering global voice and managed network solutions to large enterprises. “GCBC provides asset based and factoring products to small and middle market companies that allow businesses to accelerate their growth.” says Meg Roberson. OSN was the 17th fastest growing company on the Austin Business Journal’s most recent Fast 50 list. OSN was recently listed in Inc. Magazine’s 5,000 fastest-growing private companies for the fourth consecutive year achieving 238% growth against 134% telecommunications industry average.
As OSN’s cash flow improved and business grew, it acquired a significant partnership with a Massachusetts-based private equity group. Due to this partnership, the company no longer required accounts receivable financing; however, the company was in need of a traditional line of credit to help manage acquisitions over time.
Ernest Cunningham, One Source Network’s CEO, stated, “Our company has experienced tremendous growth over the past several years from a financial, talent, product and infrastructure perspective. Although we no longer utilize accounts receivable financing, Gulf Coast Business Credit was able to strengthen our relationship through Gulf Coast Bank.”
GCB’s Terry Looney also recently provided OSN with an equipment line of credit. If you would like to learn more about GCB, please visit www.gulfbank.com.
As a leading provider of working capital finance throughout the United States, GCBC helps provide accounts receivable financing to a variety of customers. GCBC has production offices located in Colorado, Georgia, Tennessee, Texas, and Louisiana. To contact GCBC, please call 866-577-8867, or you can email us at gcbcinfo@gulfbank.com.
Please like GCBC on Facebook by clicking the following link and we will keep you up to date on current events: Gulf Coast Business Credit Facebook Page. Please connect with GCBC on LinkedIn by clicking the following link: Gulf Coast Business Credit LinkedIn Page.
Article Posted On: September 03, 2014