What We Offer
General Business Credit (GBC) is here to help companies of all different sizes with varied financial needs. Our factoring, funding and consulting services help businesses meet their true potential. Whether your business needs working capital, advice from a consultant or factoring services, GBC is here to help. We've been in business for over a decade and a half for good reason. Our goal is to catalyze business growth and ultimately boost your bottom line. Let us take a look at your financing needs, develop the appropriate solution and your organization will be well on its way to success.
We turn your invoices into cash without delay
It is much easier to obtain P.O. financing than a traditional bank loan.
We specialize in various purchase financings for new/used heavy duty trucks and trailers.
We offer "Fuel Card Service controlling fuel usage and various over-the-road costs.
Why so Many Businesses are Turning to Factoring
When an invoice is factored, the factoring provider transmits a percentage of its value to the business. This transmission typically occurs in a 24-hour period. Once payment is collected from the customer, the factor pays the balance of the invoice after subtracting fees. The cash advance rate hinges on the industry the company operates in. It also hinges on the party selected for factoring and customer credit history. Advance rates are as low as 80 percent of an invoice or as high as 95 percent.
The primary benefit of factoring is enhancing cash flow. Yet the benefits of factoring do not stop there. Factoring providers supply no-cost back-office support. This includes time-consuming collections efforts. The end result is additional time and resources that will help your company expand. Part of the beauty of factoring is that its terms are based on the merit of clients' credit rather than the business's credit. Factoring can be extensively customized and managed so it supplies much-needed capital in a timely manner. Factoring is quite scalable to boot. This means the amount of funding can expand in sync with receivables. Factoring does not require extensive paperwork so don't shy away because of documentation concerns. Furthermore, rates can be altered as a business finances more cash with factoring.
Factoring Catalyzes Growth
Factoring is unique from a conventional bank loan in that there is no maximum amount of funding the business can obtain. As a company's receivables expand, the amount of financing through factoring grows in unison. Factoring is not restricted by hard borrowing limits like those applied to traditional loans.
This financial tool is ideal for relatively new businesses that don't have extensive reserve funds or an impressive balance sheet. Yet all sorts of different companies continue to rely on factoring beyond the initial start-up period. They do so because factoring catalyzes growth across posterity. Some start out factoring a couple of thousands of dollars and end up factoring millions more over time. Factoring is favored over a bank loan due to its inherent flexibility and nearly unlimited potential. This financial strategy doesn't accrue debt, facilitates the qualification process and hastens accounts receivable. If your business needs cash on the double, factoring is exactly what you are looking for.
- Quicker Accounts Receivable
- No Debt Incurred
- Easier Qualification
- Credit Analysis:
Turn your invoices into cash
Factoring is the perfect financial tool for companies of all sizes. If you have receivable invoices, taking advantage of our factoring services just might prove to be the missing piece to your business puzzle. We turn your invoices into cash without delay. This is not a loan so collateral is not necessary. Let us assume responsibility for credit loss by purchasing your receivable invoices. You will be provided with upwards of an 80 percent advance if necessary. GBC provides working capital that boosts your cash flow, making it possible to reinvest in the company, pay bills and ultimately grow your business toward its potential. We'll handle collecting payments from customers so you can focus on propelling your company to its potential.
- Credit Protection
- Advance Services
- Accounts Receivables Management
- Collection Services
Purchase order financing
Also known as P.O. financing, purchase order financing empowers businesses to take on massive orders that otherwise could not have been handled due to financial constraints. It is much easier to obtain P.O. financing than a traditional bank loan. There is no need for extra collateral. This financial tool boosts sales volume, spikes revenue and ultimately keeps customers happy.
- Sufficient gross profit margin to make the numbers work
- Production can be ramped up/down to meet demand
Import Financing makes it easy to obtain international goods in the midst of stifling regulations. Let us build relationships between your business and foreign manufacturers, arm you with the funds necessary to launch a Letter of Credit and make the purchases that keep your business operating like a well-oiled machine. GBC also provides export financing for ameliorating the challenge of large order purchases by foreign export businesses. We'll help you purchase goods with credit. You will be sent advances on portions of your funds as the shipments occur. When an agreement is reached with the overseas supplier, we remit funds upon receiving the client's payment.
- Letter of credit
- Bank guarantee
commercial truck financing
We provide OWNER OPERATORS and TRUCK DEALERS with the commercial truck financing even with BAD OR IMPERFECT CREDIT. Transportation is not cheap. Whether you need trucks, drivers or financial assistance with other transportation-related costs, GBC can help. Make use of our transportation financing and you will no longer have to worry about the logistics costs that have been holding your business back.
- Lower turndown ratio
- Fast processing
Fuel Card Program
Our Fuel Card service allows for the precise control of fuel use and other over-the-road expenses. These are the vitally important components of operating a trucking business. We have partnered with Electronic Funds to mitigate and relieve these challenges and keep your business in the black.
- Cash price at over 10,000 EFS-accepting locations.
- 10 cents/gallon discount from cash price at major truck stops