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GCBC COLLABORATES TO PROVIDE A $400K WORKING CAPITAL FACILTY TO A TRANSPORTATION COMPANY

GCBC COLLABORATES TO PROVIDE A $400K WORKING CAPITAL FACILTY TO A TRANSPORTATION COMPANY

Gulf Coast Business Credit recently provided a $400K working capital facility to a Tennessee based transportation company.

The company was referred by an insurance provider that focuses on the transportation sector. The company was seeking accounts receivable financing because they had exhausted their current line of credit with a local bank. In order for the company to add more trucks and increase business with their current customers, GCBC collaborated with their local bank through an intercreditor agreement. “This agreement not only allowed the company to partially pay down their bank loan but also to dramatically improve cash flow,” said National Sales Manager Meg Roberson. With the increased business, they will be able to pay off the remaining balance of their bank loan in 6 months.

GCBC has over 20 years of dedicated experience in the transportation industry and has production offices located in Colorado, Georgia, Tennessee, Texas, and Louisiana. GCBC is able to provide hassle free financial support to companies that manage large fleets to companies with a fleet of one.

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