Naturally, as an up and coming oil and gas business, you would like to expand into new markets and take on large projects. Slow-paying clients are normal for the oilfield industry, which can pose challenges when you’re trying to come up with financing to start new contracts.
Invoice factoring, or accounts receivable factoring, is the best way for small businesses to get the money they need to grow. Put an end to the waiting game and cash in on your outstanding invoices—oil and gas factoring companies buy your invoices and provide you with an instant cash advance.
Our marketplace features plenty of factoring companies that are knowledgeable in the oil and gas industry. So, don’t waste your time searching for the best factoring company when we already have the answer for you.
How Can Your Company Benefit from Oilfield Factoring?
Slow-payers are common in the oil and gas business. Invoice factoring ensures your company receives payment instantly and eliminates the 30+ day wait to get paid.
Same day funding
High advance rates and low fees
Unlimited funding (the more invoices, the more financing opportunities)
Working capital to bid on lucrative contracts
Funds to cover payroll and increase staff as needed
Cash flow to cover new equipment costs, maintenance, research & development
Fast approval and no long term commitment required
Invoice factoring helps oilfield and gas businesses that are just starting out and ones that have been in operation for years. Poor credit (or lack of credit) won’t impact your ability to factor invoices. Factoring approval is based on the strength of your clients since they are responsible for invoice payment. We work with oilfield contractors, suppliers and vendors in construction, transportation, production and exploration.
Mud and Water Haulers
Frac Sand Haulers
How It Works
Stop waiting and start factoring oilfield invoices. Here’s how the factoring process works for oil and gas companies.
Submit your invoices to the factoring company. The factor verifies that the work has been completed.
Once the factoring company receives your invoices, you’ll receive a cash advance within 24 hours. Funds are typically transferred by ACH, wire transfer or deposited on fuel card (for transportation companies).
Grow and Repeat
The factoring company collects payment from your clients. You get back to growing your business. Repeat the factoring process as needed.
Oil and Gas Funding FAQs
Have more questions? Get them all answered from the Factoring Marketplace FAQ page.
Q:I’m just starting up and landed my first project, can I factor?
A: Absolutely! As long as you’re billing a creditworthy customer, you’ll be able to factor.
Q: Are there limitations on how to use the funds?
A: Use for any oil and gas business expense you need. Whether it be for payroll, permits or overhead expenses, oil and gas factoring companies can supply you with the funds necessary to manage your day-today business expenses.
Q: Do I need to factor all oil and gas invoices?
A: You aren’t required to factor every project. Certain clients may pay promptly, eliminating the need for factoring. That’s okay. Factor when you need to.
Oil and Gas Companies in the United States
There are few oil and gas companies in the U.S., but the small number of competitors doesn’t make the competition any easier. When you are waiting over 90 days to get paid, it makes jobs difficult to carry out. Allowing us to partner you one of our factoring companies for oil and gas opens up working capital to grow your business and take on new projects. Good or bad credit, we’ve got your oil and gas business covered.
Oil and gas factoring experts, at your service. (855) 465-8870
Ready to Drill Into Opportunity?
Excuse our cheesy joke, we couldn’t help ourselves.