Global Commercial Credit

Global Commercial Credit LLC is an American trade credit and political risk insurance broker.

Global Commercial Credit LLC
IndustryInsurance broker
FoundedMarch 1, 1996 (1996-03-01)
Founder
  • Craig Bonnell
  • Victor Sandy
Headquarters,
U.S.
Number of locations
Offices in Connecticut, Massachusetts , Maryland, Florida, Illinois, Ohio
Products
Websitewww.gccrisk.com

History

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Global Commercial Credit was founded on March 1, 1996[1] by Craig Bonnell and Victor Sandy in Bingham Farms, Michigan with the goal of offering a wider range of trade credit insurance products than was available from their previous employer.[1][2] They targeted middle-market companies with revenues of between $50 million and $500 million, an area which David Brophy, a finance professor at the University of Michigan, said was underrepresented due to a trend towards larger banks.[2]

The company opened a second office, in Chicago, Illinois, in the fall of 1996 and reported that they had protected over $2 billion in receivables, representing five different insurers, after 10 months of business.[1] With offices now in Boston, Baltimore, Tampa, Chicago, and Cleveland, the company protects over $40 billion in global sales with more than a dozen carriers.

References

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  1. ^ a b c "Credit firm receives new clients", by Matt Roush, Crain's Detroit Business Archived 2014-02-18 at the Wayback Machine, February 10, 1997
  2. ^ a b "2 Dun & Bradstreet staffers join firm in corporate finance", by Matt Roush, Crain's Detroit Business Archived 2014-02-18 at the Wayback Machine, March 11, 1996
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