Daily News: June 8, 2016

Gulf Coast Provides $1.5MM Facility for Staffing Company

Gulf Coast Business Credit funded a $1.5 million working capital facility for a Louisiana-based staffing company.

The staffing company was previously funded by a working capital loan from their payroll provider. It wanted to find another source of capital because the payroll provider had too much control over the business, and the company wanted to move in a different direction to take advantage of growth opportunities.

GCBC is an accounts receivable finance firm providing commercial lenders with solutions.