Daily News: January 22, 2016

Gulf Coast Business Credit Funds Facility for Transportation Company


Gulf Coast Business Credit funded a $500,000 working capital facility for a transportation company that was referred by a Louisiana banker.

This Louisiana and California-based transportation company specializes in hauling refrigerated and dried food commodities nationwide. Also, the company operates as a transportation broker in Louisiana.

Through freight factoring, GCBC was able to pay off the company’s existing facility with another factor, which in turn freed up other collateral that the banker can lend on.