Daily News: February 19, 2014

GCBC Provides Facility to Transportation Company

Gulf Coast Business Credit (GCBC) announced it recently provided a $3MM working capital facility to a transportation company with a fleet of 35 trucks.

Due to the high volume of activity in the Bakken, the company will utilize GCBC’s A/R financing program to help expand their customer base and reach their full growth potential without giving up equity.

Robert James, GCBC VP, stated, “We are excited to offer our financing product to those doing work in the Bakken. Combining oil and gas and transportation is a natural fit for Gulf Coast, a New-Orleans based financial institution.”

The transportation company, based in Wyoming, has operated for over 30 years and primarily hauls oilfield equipment and water in the Bakken Shale.