The increased borrowing capacity coupled with an aggressive cost of funds will allow Gateway to offer invoice factoring facilities to a wider spectrum of businesses at a lower cost
Delray Beach, FL (PRWEB) May 23, 2013
Gateway Commercial Finance, LLC a nationwide provider of invoice factoring announced today that the company has completed an amendment to its senior credit facility with First Tennessee Bank. “The increase in our borrowing capacity is a direct result of the success our existing clients have experienced over the last 12 months,” said Marc J. Marin, Managing Director. “The amended credit facility will support the growth of our existing clients while creating additional opportunities for our new business initiatives. We are particularly pleased to renew with First Tennessee Bank given their support of invoice factoring companies and our excellent working relationship.”
The increased borrowing capacity coupled with an aggressive cost of funds will allow Gateway to offer invoice factoring facilities to a wider spectrum of businesses at a lower cost. “We’re taking full advantage of these new opportunities and reaching out to a broader market for our products and services. We’ve committed resources to expanding our portfolio in telecommunications, staffing, oil & gas service providers, wholesalers and manufacturers” said Marin.
While the outlook on small business lending is dreary, many industry experts expect the factoring industry to grow between 6% to 9% in 2013 given the stringent requirements to obtain traditional bank financing coupled with a lack of interest by national banks to support small and medium sized businesses. “We’re perfectly positioned to provide timely, cost effective and transparent invoice factoring solutions to businesses across the Country,” said Marin.
Gateway Commercial Finance provides a variety of funding & factoring options to small and medium-sized businesses in need of capital. Those businesses include established companies, start-ups, highly leveraged, rapid growth or negative net worth operating companies. Receivable factoring is a widely utilized and highly accessible form of business funding. Factoring Companies like Gateway Commercial Finance can provide a funding facility to a business in as little as three business days.
Gateway Commercial Finance is a recipient of the INC 5000 for 2012 award for Fastest Growing Private Companies in America. The company is headquartered in Delray Beach, Florida and serves clients nationwide. Contact them at 877-734-2706 or visit their website at http://gatewaycfs.com.