Industry Insurance broker Headquarters Bingham Farms | Website www.gccrisk.com Founded 1 March 1996 | |
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Founder Craig Bonnell
Victor Sandy Number of locations Offices in Connecticut, Massachusetts , Maryland, Florida, Illinois, Ohio Products Trade credit insurance
Political risk insurance | ||
Global Commercial Credit LLC is an American trade credit and political risk insurance broker.
History
Global Commercial Credit was founded on March 1, 1996 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. 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.
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. 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.