Factoring for
the Oil and Gas Industry
Oil and gas factoring provides oil and gas companies with cash for their receivables so they can take on new opportunities without waiting for payment. This is a more business-friendly alternative to traditional lending compared to other options in the oilfield industry.
Oilfield service providers can benefit from invoice factoring.
Accounts receivable factoring is useful for oilfield service providers who want to avoid the negative cash flow that often results from Long payment terms in the industry. With this method, you can worry less about having enough money to pay your employees or cover other costs like equipment and research and development expenses.
Why oilfield Factoring?
- An option that can last as long or short as you need
- competitive advances, Low rates
- Debt Free
- Invest in new equipment
- With ease, hire additional staff and cover payroll.
- you can offer more favorable credit terms to your customers.
With factoring, you can send invoices at any time to get funding without limits.
Ready to start invoice factoring?
Complete the form or contact us for more information. We’re happy to help!
How Can Factoring Help Your Oil and Gas Business?
Factoring is a process of selling receivables for a cash advance, which allows oilfield industry workers to get paid faster. If you’re approved, simply submit your oil and gas receivables and receive up to 95 percent of their value within 24 hours. The rest of the money will be held in a reserve account until your customers pay the invoice.
You can receive as much funding as you need, so long as you have unpaid receivables.
Here's How to Qualify for Oil and Gas Factoring
Oilfield receivables factoring is simple to qualify for, even if your credit isn't good or you're new to the business world. That's because this type of financing approval process is based on the creditworthiness of your customers instead of yourself. And since they're responsible for invoice payment, bad credit won't hold you back from getting approved - which traditional financing options would do.
How does it Works:
Improve your business' cash flow by submitting invoices as soon as you are approved. Within 24 hours, you could receive a cash advance for work that has already been completed. The factoring company will verify the invoices and send you up to 95% of their value, so long as they have been accepted.
The oilfield factoring company holds back the balance portion of the total amount in a reserve account until your invoices are paid. They collect payment from customers on behalf of you and once all invoices have been paid, they release the rest of the money that was reserved to you after subtracting their service fee.
No matter what your oilfield business, we have the right financing solution for you.
- Dump Trucks
- Equipment Haulers
- Flat Bed Haulers
- Frac Sand Haulers
- Frac Sand Suppliers
- Gravel Haulers
- Gravel Pit Suppliers
- Hot Shot Haulers
- Mud Haulers
- Water Haulers
- Vacuum Trucks
- Acidizing & Cementing
- Disposal Services
- Excavation Services
- Fracking Services
- Flowback Testing
- Road Construction
- Shale Gas Industry
- Site Preparation
- Pipeline Construction
- Wireline Services
- Welders
- Environmental Cleanup
- Inspection Services
- Land Surveyors
- Manufacturers of Oil Extraction Equipment
- Oil Rig Cleaners
- Oilfield Equipment Rental
- Roustabout Services
- Staffing & Employment Services
- Sandblasters
- Tank & Pipeline Cleaning
- Well Servicing
Getting financing
to grow your business is simple with us.
Oil and Gas Factoring – The Solution for Your Business
Why wait 60 days or more to receive payment for your oilfield work when you could have the money immediately? Oil and gas factoring is simple to arrange and gets rid of the bureaucracy often involved with traditional loans. In only a few minutes – all it takes is your Articles of Incorporation, a current customer list, and copies of the invoices you wish to factor in – you could be approved for funding. And within 3 business days, get paid what you’re owed – sometimes even within 24 hours! With no hassles over expenses, you can fund easily.
There are many benefits to oil field service providers when they factor their invoices.
- A representative who will focus entirely on your account and addressing any questions you may have.
- With the extra confidence and security of a steadier income, you can take on bigger projects.
- Recourse and non-recourse options available
- comprehensive back-office support
- Get easy approval without bind yourself to a long-term contract.
