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.
March Madness Takes on New Meaning at GCBC
While March Madness may typically refer to the NCAA’s Men’s Division 1 Basketball Tournament, Gulf Coast Business Credit (“GCBC”) is experiencing their own March Madness while funding a variety of Accounts Receivable Factoring and Asset Based Lending (ABL) relationships this month.
Amongst the new client relationships there was a $1.25 million working capital facility to a California based staffing company, a $500,000 working capital facility to a Texas based technology company, and a $100,000 working capital facility to a Texas based transportation company.
The California based staffing company was referred to GCBC’s Adam Landry by a broker. The company provides staffing services to large manufacturing, warehousing, and distribution companies. In order for the staffing company to take on a large amount of work from a new client, they needed to increase their cash flow. GCBC’s accounts receivable factoring provided the company with enough cash flow to take on this new client. The company chose GCBC for its staffing factoring needs for a variety of reasons including their staffing industry expertise, competitive rates, and same-day payment without a long-term contract.
The Texas based technology company was referred by an interim CFO to GCBC’s Kelsey Ortiz, a recent graduate of one of the March Madness, Sweet 16 teams, Texas A&M University. The company provides technology sales and services with a specialization in high definition digital services as well as digital learning tools and consultation. With a recent change in ownership, the company was looking to focus on growth rather than stress about cash flow. The company chose GCBC for its invoice factoring needs because GCBC was able to provide flexible terms, competitive pricing, and the professionalism the company sought out.
Lastly, the Texas based transportation company was referred to GCBC’s Troy Zupancic by a current transportation client. As a startup transportation company, the company owns 1 truck and specializes and hauling dry loads nationwide. By choosing GCBC for its freight factoring needs, the company was able to receive instant approval, same day funding, and lower rates.
As a division of Gulf Coast Bank & Trust Company, GCBC offers its clients the best of both worlds: a bank relationship with the flexibility of a specialty lender. 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 a Factoring Company? | Temporary Staffing Factoring |
| What is Factoring? | Benefits of Factoring |
| Accounts Receivable Factoring | Financing Alternatives |
| Freight Factoring | Asset Based Lending |
Article Posted On: March 25, 2016