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 Hires Rochinda Archuleta as Project Manager
Due to substantial growth, Gulf Coast Business Credit (GCBC) recently hired Rochinda Archuleta as Project Manager.
GCBC’s Ryan Dendinger moves to Dallas Market
Gulf Coast Business Credit (“GCBC”), the factoring and asset based lending division of Gulf Coast Bank & Trust Co., announced major success in the first half of 2018 leading to an exciting move for GCBC Business Development Officer, Ryan Dendinger, to the DFW Metroplex. Ryan will join the Dallas team at the 5949 Sherry Lane, Park Cities location with approximately 25 other employees located in that regional office to date. Prior to his move, Ryan was an Underwriter for GCBC out of the Austin, TX location.
How Can Factoring Companies Assist Commercial Lenders?
How can Factoring Companies assist Commercial Lenders?
As part of our Referral Rewards promotion, we'd like to take a moment to illustrate how Accounts Receivable Factoring companies can help Commercial Lenders retain their customers by offering complementary products.
STRESS CITY! Eduardo, a long-term customer, approaches his banker with a request for a $500,000 working capital line of credit for his business. Eduardo already maintains personal and commercial depository accounts with the bank in addition to a $1MM equipment loan. His banker wants to keep Eduardo happy but knows that due to a large concentration in accounts receivable combined with a high risk industry, the bank’s hands are tied.
GULF COAST BUSINESS CREDIT TO THE RESCUE! Eduardo’s banker must think strategically to lessen the blow of a turndown. Is there a complementary product out there that could work alongside the bank to give Eduardo what his company needs? GCBC swoops in to save the day!
PROBLEM SOLVED! Through a strategic partnership with GCBC, Eduardo’s bank maintains a long-standing customer relationship and provides him with a financial resource that will enable him to capitalize within his industry during a downturn.
Gulf Coast Business Credit is an accounts receivable factoring company providing commercial lenders with a solution that allows them to say “Yes” more frequently. We partner with banks of all sizes throughout the country, offering referral programs designed to help institutions achieve growth through new accounts, non-interest income, higher profitability and increased client retention.
Article Posted On: February 09, 2017