Secure Timely Cash – Oil & Gas Service Companies
Business Factors & Finance has been helping oil & gas service companies grow their businesses since 1999. With experience servicing the special needs of the oil and gas sector in Alberta, Texas, North Dakota, Colorado, Pennsylvania, Ohio, and Saskatchewan, and Oklahoma, Business Factors & Finance is ready to help your business succeed.
Don’t let your people and equipment sit idle while your invoices languish in Accounts Payable – tap into that frozen cash today to keep your trucks running and hire enough crew to meet your project deadlines. Today’s oil and gas service companies must be able to move fast when a good opportunity comes along – this means having cash on hand to mobilize quickly when called.
Oil and Gas Funding Doesn’t Have to be Hard to Find
Yet even with the best-laid plans, oil and gas companies and their suppliers sometimes need additional capital. That’s where Business Factors’ oil and gas project financing comes in. If your business is in the oil and gas sector, you will more than likely have a hard time securing a traditional loan from a bank. Banks prefer lending to businesses with steady periods of growth and predictable projections. In this sector, even profitable and otherwise thriving businesses can routinely show up and down periods as this is just the nature of the business.
Banks don’t want to see these peaks and troughs as they prefer steady upward growth trajectories with minimal periods of decline. Moreover, many banks have clearly stated policies that that they won’t provide business loans to certain high risk industries, and there’s a good chance that sector is on that list. This is particularly true for businesses that have yet to establish themselves or those that lack sufficient collateral.
Factoring Frees up Cash For Investments or Expenses
Business Factors, an oil and gas financing company, routinely works with seasonal or high risk businesses. It provides funding to those directly in and around the industry, including suppliers, contractors, and trucking and transportation companies. Its loans can help cover the costs of:
- Transporting various equipment, such as pipes, tools, haul water, and more.
- Payroll for engineers, chemists, builders, constructors, oil rig installers, movers, and general laborers such as roustabouts.
- Clean up, set up, maintenance, and repair of the drilling or fracking site or equipment.
- Permits, licenses and other regulatory matters.
- Supplies, such as sand, gravel, rock, water and other materials that are needed for drilling or fracking expeditions.
Oil and Gas Factoring Let’s You Bid on Future Projects Today
Invoice factoring for the oil and gas industry provides funding to companies based on the validity of current invoices that are issued to creditworthy clients. So as long as you have a current client with a solid credit score and a history of paying bills when they are due, you likely qualify for oil and gas funding. Moreover, Business Factors can provide oil and gas project financing on a project by project basis so you can get the financing you need to complete the job without having to commit to a long-term contract.
Unlike standard loans, factoring is not dependent on your business’s credit score, business history, number of years established, the state of the local economy, or risk given to a particular industry. As long as you have a credit-worthy client, you are set. Oil and gas project financing enables your business to get paid for invoices in a matter of days so you can move forward with your next project.
Flexible Funding in a Changing Industry
With the power of cash-on-demand oil and gas financing, your company can bid on jobs with confidence knowing it will have access to the capital it needs to complete the job. With project financing, you can have added flexibility of getting the capital you need. This way you can get the amount of capital you need based on the requirements of the job rather than a flat disbursement amount.
The energy sector is in a constant state of flux as it is highly dependent on global economic and political trends. The industry has historically been a risky one, and that doesn’t look to change anytime in the foreseeable future. Today, that risk is exacerbated in many ways by low prices that are a result of a number of industry and geopolitical factors.
As a result of low market prices, many oil and gas companies are struggling to come up with sufficient capital to cover their operating costs. Business Factors can provide oil and gas financing to these and other companies to bolster their operations and ultimately their business growth.
Funding from Business Factors offers
- Fast financing in 3-5 business days or less
- Low, competitively priced fees
- Easy application process with no up-front costs
- Transparent handling of your receivables so you’ll know precisely when payment occurs.
So contact Business Factors today to learn more about financing oil and gas projects.
Learn more about Oil Field Factoring:
- Overcome Debt for Your Oil & Gas Company with Factoring
- Ways Oil and Gas Investment Companies Utilize Capital
- 5 Top Benefits of Oil and Gas Factoring
- Financing Oil and Gas Projects with Invoice Factoring Services
- 4 Tips for Oil and Gas Startups
- How Oil and Gas Invoice Factoring Can Benefit Your Business
- 4 Tips For a More Successful Oil and Gas Business
- How Improve Your Oil & Gas Invoicing Process
- How To Start A Diesel Supply Company
- Why Your Oil & Gas Business Needs Factoring
Other Industries We Serve: