GCBC Business Development Officers Discuss Why Commercial Lenders Should Refer Deals to GCBC

Are you a commercial lender? Gulf Coast Business Credit recently gathered four of their Business Development Officers to discuss reasons why conventional, commercial lenders should refer deals to GCBC. Here’s what four of our Business Development Officers had to say, when asked:

Why should commercial lenders refer deals to GCBC? What are the benefits to the commercial lenders and their clients?

Katie German:  When a commercial lender is searching for an alternate form of accounts receivable financing for their clients outside of conventional bank financing, GCBC is definitely the best solution, hands down! First, the clients will be offered LOWER RATES than many competitors in the same space. On many occasions GCBC’s rates can be half, in comparison to other specialty lenders. Second, the commercial lender has offered a SOLUTION to the company vs. the alternative – delivering a “No”. Cost savings coupled with a solution are excellent ways to win loyalty from clients. Once the client is able to move to a more conventional line with their bank, Gulf Coast will transition them back to the lender who referred the client to GCBC. Great reasons to make GCBC your next call!

Stuart Wrba:  GCBC is able to assist commercial lenders MAINTAIN existing business. When clients do not qualify for conventional financing and/or the bank needs an exit plan, lenders should take the time to EDUCATE their clients on alternative financing options, such as factoring and asset based lending. By referring and helping educate these clients, lenders become a trusted financial advisor and leave a positive and lasting impression on their clients. In turn, these clients will see the value in the relationship, have the potential to bring ancillary business to the bank and/or refer other companies to the lender in the future. Don’t forget the added bonus!  GCBC offers Referral Fee Programs to Banks that can produce significant fee income to the bank and its lenders! Win-Win-Win!

Tom McGaughy:  GCBC is a division of a bank located in New Orleans that is FDIC insured, which typically provides for much lower fees to the client than other alternatives, and a much greater sense of CONFIDENCE as to where the client's money is going. GCBC facilities do not have up-front fees, minimum volume requirements, or exit fees. A client can ask for funding any time after an invoice has been sent, knowing that GCBC's fee will be calculated only from the time of funding and not back to the date of the invoice. GCBC has a very strong credit department that acts in partnership with the client to continuously monitor the creditworthiness of the client's customer base. The result over time is a quality customer base with a quicker turn on receivables. The client has access to GCBC's sophisticated online system for monitoring the status of receivables at all times.

Troy Zupancic:  When I was a commercial lender, I took a personal interest in helping my clients obtain the working capital they needed to grow their businesses. Unfortunately, not all of the companies you encounter are in a position to qualify for conventional financing on their first request. Many of these entrepreneurs simply need more liquidity and more time to flourish. By partnering with GCBC, you have the ability to BRIDGE THE GAP to conventional financing with an accounts receivable based line of credit that is easy to use and competitively priced.

We hope this discussion has given you a better idea of why conventional lenders should refer companies to GCBC for their factoring and asset based lending needs. Our Business Development Officers revealed in this discussion that conventional, commercial lenders choose GCBC because they have the ability to maintain existing bank business, they become an educational source or “trusted advisor” to their clients, GCBC is FDIC insured giving both clients and lenders a higher level of confidence in the relationship and to top it all off, their clients benefit from some of the lowest rates offered in the industry while bridging the gap to conventional financing.

GCBC is a leading provider of working capital finance throughout the United States with production offices located in Colorado, Georgia, Tennessee, Texas, Oklahoma, and Louisiana. If you are a commercial lender, be sure to check out our Referral Rewards promotion where if you send us a deal in June that closes before 2016, we will send you a GoPro Hero3 camera. To learn more about Gulf Coast Business Credit, contact us by phone at 866-577-8867 or by email at gcbcinfo@gulfbank.com.

Business Development Officers who participated in this discussion:

Katie German is a Business Development Officer located in Austin, Texas. You can contact Katie by email at katiegerman@gulfbank.com or by phone at 512-410-1035

Stuart Wrba is a Business Development Officer located in Atlanta, Georgia. You can contact Stuart by email at stuartwrba@gulfbank.com or by phone at 678-456-5872.

Tom McGaughy is a Business Development Officer located in San Antonio, Texas. You can contact Tom by email at tommcgaughy@gulfbank.com or by phone at 210-920-3901.

Troy Zupancic is a Business Development Officer located in Dallas, Texas. You can contact Troy by email at troyzupancic@gulfbank.com or by phone at 817-756-4499.