Business Factors, Inc. Sets Aside $100 Million to Finance Oil Field Contractors in North Dakota.
Business Factors has set aside $100 million as contractors look to business finance options while working in the Bakken Oil Shale Formation.
As the success of the region continues, contractors need to quickly hire more people to help with all aspects of the exploration. Business Factors can provide money for contractors who need accelerated cash flow as well as financing for equipment. Businesses may need to take advantage of BusinessFactors.com’s factoring services in order to cash flow payroll and expenses in a fast and efficient manner.
Business Factors offers factoring, which is a fast and simple way to get immediate cash in return for invoices and accounts receivable. Contractors provide their invoices to Business Factors. Business Factors will then give them up to 96% of the face amount in cash. It then waits for the invoice to be paid and handles the collections. There are no upfront fees, easy credit qualifications, consulting, and cash can be received in 24 hours. Contractors interested may complete the contact sheet on the website or call 888-234-6663.
Having been in the oil and gas business finance industry for several years now, the company knows the needs of contractors. “We understand the pressures and time restraints that contractors in Bakken Oil Shale region are feeling and we are here to assist,” said Robert Bernfeld, president of Business Factors. “Finding reasonable financing options can be difficult, but Business Factors is committed to assisting those who are working in the region.
Business Factors provides financing to large companies, as well as startups. Instead of focusing on a company’s financial statement it looks to it’s customer’s accounts receivable and equipment. While Business Factors have excellent, competitive solutions for existing, well established companies, it also considers companies experiencing financial challenges, and is very successful in helping new companies meet their financial projections.
For additional information, call 888-234-6663, or visit www.BusinessFactors.com.