Gulf Coast Business Credit (GCBC) recently funded a $300,000 working capital facility for a Mississippi-based trucking company referred by a community banker.

The trucking company was incorporated by two transportation industry professionals in late 2013 with one truck. As business began to grow, the trucking company hired more employees and increased the fleet to 10 trucks. In response to this growth, a community banker recommended the company reach out to GCBC to provide freight factoring.

The trucking company was attracted to freight factoring because GCBC was able to provide immediate funding for open invoices to help manage cash-flow, enabling the company to focus on growth rather than being held captive by slow-paying customers.