Gulf Coast Business Credit Welcomes 2020 Summer Interns!
Gulf Coast Business Credit (“GCBC”), the working capital finance division of Gulf Coast Bank & Trust Co., is excited to welcome its 2020 interns, Max Wrba and Addison Baker. The internship program at GCBC offers a well-rounded and hands-on experience that gives participants exposure to all sectors of ...
GCBC Celebrates 20 Year Anniversary in 2020
On February 1, 2020, Gulf Coast Business Credit (“GCBC”), a division of Gulf Coast Bank & Trust Co. (“Gulf Coast Bank”), announced the celebration of its 20th Anniversary as a leader in accounts receivable finance and asset based lending. Over the last 20 years, GCBC’s commitment to thousands of valued client relationships, partners and employees has provided growth for businesses and prosperity for families across the United States.
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.
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.”
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 Closes 30 Hot Deals this Summer
In the months of June and July, Gulf Coast Business Credit (GCBC) funded 30 new Factoring and Asset Based Lending relationships.
Among the 30 new client relationships were a $5 million working capital facility to a Texas based inspection services company, a $2 million working capital facility to a Florida based freight transportation company, a $750,000 working capital facility to a California based advisory company, and a $500,000 working capital facility to a Louisiana based staffing and oilfield services company.
The Texas based inspection services company was referred to GCBC by a broker. The company had a traditional line of credit, but realized the facility limit would no longer be enough to fulfill their cash flow demand. The company chose GCBC for its invoice factoring needs because GCBC was able to provide the necessary capital they were seeking to double the size of their staff at a competitive rate with flexible terms.
The Florida based freight transportation company was referred to GCBC by a factoring professional who attended the International Factoring Association Convention held in April 2015. The company provides freight brokerage services through a network of agents located across the United States and Canada.
The California based advisory company learned about GCBC through another factoring firm. The company is privately held and provides advisory services in the financial sector.
Lastly, the Louisiana based staffing and oilfield services company learned about GCBC through a former client. The company provides skilled trades and labor staffing, as well as oilfield tool rentals and wireline services through a separate division. GCBC was able to provide the company with enough cash flow to take on new business they previously could not handle.
As a division of Gulf Coast Bank & Trust, GCBC helps provide accounts receivable financing to a variety of customers. GCBC is a leading provider of working capital finance throughout the United States with production offices located in Colorado, Georgia, Texas, and Louisiana. To contact GCBC, please call 866-577-8867, or you can email us at firstname.lastname@example.org.
Article Posted On: August 12, 2015