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.
What Is Freight Factoring?
Freight factoring is a way for trucking companies to receive immediate payment from their customers, instead of waiting 30 to 90 days. By converting freight bills to cash quickly, freight factoring helps transportation companies improve and manage their cash flow.
The way it works is a factoring company pays the freight company for their invoices right away, then, for a fee, collects payment for those freight bills from the trucking company’s customer later.
In order for transportation companies to succeed, they need consistent cash flow for ongoing operations and future growth opportunities. If a freight company chooses to factor, the factoring company (or “factor”) considers their customer’s ability to pay, not theirs. The biggest attraction to freight factoring is not being held captive by slow-paying customers.
If freight factoring is the solution for you, Gulf Coast Business Credit invites you to fill out our online quick quote form today! Also, GCBC’s current Freight Fast Track promotion is offering transportation companies instant approval, same day funding, waiving of first month's fees, and the lower rates and increased security of factoring with a bank. To qualify for this promotion, transportation prospects must fill out our free quick quote form online and use the promo code “Fast Track” by April 30, 2015. Gulf Coast Business Credit has an entire division devoted to the transportation industry and also offers EFS Fuel Cards and Fuel Discounts at Pilot Flying J Travel Centers.
Looking to learn more about freight factoring or asset based lending? Contact GCBC by phone at 866-577-8867, or email gcbcinfo@gulfbank.com today. GCBC has production offices located in Colorado, Georgia, Louisiana, Oklahoma, Tennessee, and Texas.
Article Posted On: April 10, 2015