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March Madness Takes on New Meaning at GCBC

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.

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