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Gulf Coast Business Credit funded a $1.5 million working capital facility for a pump rental company that was referred by a community banker in Louisiana.

This family-owned and operated pump rental company provides dewatering and pumping services as well as industrial pump, accessory rentals and sales. In order for the company to grow and fulfill one of their largest jobs, they needed more cash. Knowing this, they reached out to a community banker seeking more availability than their current national bank was willing to offer, which was unable to provide the financing that the company was looking for, but fortunately, they referred them to GCBC.

The company chose GCBC for its invoice factoring needs for a variety of reasons including immediate funding, competitive rates and flexible terms. Through invoice factoring, GCBC was able to pay off the company’s existing line of credit with their current national bank, which in turn gave them more availability to pay their manufacturer and free up other collateral that the community banker was able to lend on.