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GCBC PROVIDES $1.5 MILLION WORKING CAPITAL FACILITY TO LOUISIANA BASED OILFIELD SUPPLY COMPANY

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.

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