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.
