Gulf Coast Business Credit (GCBC) announced it posted a 25% increase in average portfolio growth for calendar year 2013. This marks the third consecutive year of significant portfolio growth for GCBC.
The strong trends continued into 2014, with double-digit growth for Q1/14. GCBC’s year-to-date 2014 results were highlighted by a wide variety of new deals booked in the quarter. Transactions ranged from a $50,000 working capital facility for a Florida-based industrial equipment wholesaler to a $3 million working capital and inventory loan for a Texas-based oil and gas equipment distributor to a $5 million working capital facility for an Arkansas-based staffing company. Companies funded in 2014 also included transportation companies, oilfield service companies, an emergency response company, a food specialty company and a clothing manufacturer. In total, 22 companies chose to trust GCBC as their new financing partner during the first quarter of 2014.
“The last couple of years have been extremely rewarding as a company. We managed to more than double our portfolio size in a short period of time while maintaining our credit quality at high standards. A well-trained / well-managed sales staff, an evolving product mix and a renewed focus on customer service have all contributed to our success and should continue to pay dividends for GCBC well into the future,” says Wade Hladky, president of Gulf Coast Business Credit.