GCBC VP Provides Printing Company Facility
Gulf Coast Business Credit’s Adam Landry, vice president of Business Development, recently provided a $500,000 working capital finance facility to a Louisiana- and Texas-based printing company.
The printing company specializes in print work for the oilfield and services some of the industry’s leading companies. Due to a large increase in business, the company was experiencing a constant struggle with cash flow. In some cases the company would wait up to 80 days to be paid by their customers. With not have enough cash on hand to purchase materials needed for the new work, the company was forced to turn down new business.
With accounts receivable financing, GCBC was able to improve their cash flow, allowing the company to take on new business. In 2014 the company is looking to double its revenue year over year. “We are extremely happy to help them take on more business than ever before,” said Landry.
GCBC has production offices located in Colorado, Georgia, Tennessee, Texas and Louisiana.