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 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.
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.
GCBC PROVIDES $1.5 MILLION WORKING CAPITAL FACILITY TO LOUISIANA BASED OILFIELD SUPPLY COMPANY
Gulf Coast Business Credit recently provided a $1.5 Million working capital facility to an oilfield supply company headquartered in Louisiana.
The oilfield supply company was started by a husband and wife over 12 years ago. The company provides an array of products and equipment to oil companies. Unable to obtain traditional financing, the company sought out factoring solutions to help manage their cash flow. GCBC was referred by an internet generated lead and then awarded a factoring contract over 2 local competitors because of their superior pricing structure. “We were able to help pay-off the company’s existing line of credit at the bank and dramatically improve their cash flow,” said National Sales Manager Meg Roberson.
Specializing in accounts receivable for the oil & gas sector, GCBC understands the unique challenges this industry faces. With production offices located in Colorado, Georgia, Tennessee, Texas, and Louisiana, GCBC is recognized as a leading provider of working capital finance throughout the United States. To view other recent deals, visit www.gulfcoastbc.com/news.
Article Posted On: March 18, 2014