Invoice Finance and Oilfield Services Companies

Factor financing your Oilfield Receivables for immediate cash can speed up company growth and ensure you stay operating strong. If your company is facing financial hardship due to slow paying accounts then factoring may be the answer.

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IS YOUR MONTHLY CASH FLOW GOOD:

Oil and gas clients typically pay their invoices within 60 days. This is industry standard and is required by most large companies. However, smaller oilfield service companies do not plan on waiting so long to be paid and their business can suffer and even end very quickly.

Some of the smaller companies offer their customers a discount in exchange for faster payment. The term is early payment discount to customers willing to pay in 10 days or less. While this strategy may work in the beginning it has one serious drawback; it puts your customer in full control of your cash flow. And if your customer returns to their slow payment habits, your business could find itself in big financial trouble.

A BETTER ALTERNATIVE FOR YOUR BUSINESS:

You can take back control of your cash flow by accelerating your revenues using invoice financing. You’ll receive quick payments by financing your open invoices. Your business is advanced a large portion of your outstanding accounts receivables by the Factor, which provides your oilfield service company with immediate cash flow it needs to pay bills, reduce liability and continue to grow.

You don’t need to offer your customers a discount anymore. Your customer pays in full on their usual 45-60 day schedule, they don’t need to pay sooner, which means no more discounting your services.

Your company will get the financial flexibility it needs so you can take on new customers and focus on growing your business every day, not worrying about slow paying or no paying customers.

QUALIFICATIONS FOR OILFIELD INVOICE FINANCE:

Since you are financing your Accounts Receivables, its important that your customers have good commercial credit. Your Factor is going to do their due diligence to make sure you’re working with well established customers that pay their bills.

Some additional criteria a Factor may look for in qualifying your Oilfield Service Company for financing are; Your invoices must be unencumbered by liens, The owners and managers should have oil and gas industry experience, The company should not have an ongoing legal problems, The company should not have any serious tax issues and you must only invoice for delivered and accepted services and products.

Make sure you get a few offers from trusted Factors. Download Factor App, snap a picture of a current invoice, list the amount of the invoice and click submit. You’ll have a few qualified and industry leading Factors competing for your business.

If you’re not shopping your invoices, you’re not getting the best deal when Factoring!

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Why is factoring your accounts receivable invoices good for business? Under-capitalized businesses struggle to pay bills on time, retain good employees and stay competitive. Factor finance your receivables today!

Business is competitive today! If you’re acting as the finance entity for your customers, by caring their slow paying invoices for 45 to 150 days, your business may eventually be in trouble. Your business needs predictable cash flow to pay bills and stay competitive.

Technology is moving along much faster than in the past. Your vendors, partners and customers expect your business to keep up, get ahead otherwise you’ll be left behind!

Waiting 45-150 days to get paid for services you’ve already finished is bad for business. So what can you do?

You can Factor your invoices by Downloading Factor App to get;

  • Immediate cash for your accounts receivable invoices
  • Factors compete to buy your open invoices
  • You get the best rate and terms, which means more money in your pocket, fast!

Why should I factor?

Factoring is not a loan – by using Factor.bid you are utilizing your business assets “accounts receivable invoices” to get paid fast.

Under capitalized businesses miss out on new opportunities with existing customers and the chance to secure brand new customers. Have you ever wondered how some of your competitors continue to grow larger -year after year?

Factoring your accounts receivable invoices puts cash in your pocket you need to finance your business expansion, cover day-to-day expenditures and pay your employees. Factoring your receivable invoices will help put cash in the bank so you can hire new employees, bid on future contracts, buy new equipment and stay competitive in your industry!

Don’t let your competitors put you out of business because they’re able to grow at a faster pace and take over more of your industry; stay competitive and discover how businesses have been growing for years by factoring their asset based accounts receivable invoices.

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We match you with the top Factors in your industry. Get the leverage you need to negotiate the best deal when factoring, get Factor App!

Industry Invoice Types

  1. Trucking & Freight
  2. Construction
  3. Healthcare
  4. Media
  5. Production
  6. Manufacturing
  7. Staffing
  8. Payroll
  9. Oil & Gas
  10. International Factoring
  11. Wholesalers
  12. Tech
  13. Service Providers
  14. Security Guards
  15. Medical Transcription Services
  16. Pallets
  17. Distributors
  18. Importers
  19. Government Contracts
  20. Apparel
  21. Consulting
  22. Janitorial
  23. Automotive Supply
  24. Machine Shops
  25. Cable Sales/ Installers
  26. Wine and Spirits