Directional Drilling
At GO Funding, we understand the unique financial challenges faced by directional drilling companies. That's why we offer tailored financing solutions to help your business thrive. One such solution is invoice factoring. With invoice factoring, you can convert your outstanding invoices into immediate cash, bridging the cash flow gap and providing the working capital you need to cover expenses, invest in equipment, and pursue growth opportunities. Partnering with reputable factoring companies in our network, we ensure you receive prompt payment for your services while they handle the collection process. Experience the benefits of invoice factoring and let GO Funding support the success and growth of your directional drilling company.
Invoice factoring is a financing solution that helps businesses improve their cash flow by converting their outstanding invoices into immediate cash. The process is straightforward and involves three parties: the business (seller of the invoices), the customers (debtors), and the factoring company.
Here's how invoice factoring works:
Submitting Invoices: The business provides its invoices to the factoring company, which can be done electronically or through a designated online platform. These invoices represent the amount owed by the customers for the services or products provided.
Verification and Approval: The factoring company verifies the authenticity of the invoices and the creditworthiness of the customers. This step ensures that the invoices are valid and eligible for factoring.
Advance Payment: Once the invoices are approved, the factoring company advances a percentage of the invoice value to the business. This advance payment typically ranges from 70% to 90% of the invoice amount, depending on various factors such as the industry, creditworthiness of the customers, and the agreement with the factoring company.
Collection Process: The factoring company takes over the responsibility of collecting payments from the customers on behalf of the business. They handle the billing and follow-up processes, reducing the administrative burden on the business.
Final Payment: When the customers pay their invoices, the factoring company deducts their fees and any applicable charges. The remaining amount, known as the reserve, is then returned to the business. This final payment completes the factoring process.
By utilizing invoice factoring, businesses can access immediate funds, improve cash flow, and focus on their core operations without the burden of managing collections and waiting for payment. It provides a flexible and efficient financing solution, allowing businesses to seize growth opportunities, pay suppliers, and meet their financial obligations in a timely manner.
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Our Commitment to Your Success
At GO Funding, we go beyond simply providing financing solutions. We are dedicated to being your trusted partner, collaborating closely with you to comprehend your business goals and deliver the financial resources necessary to achieve them. We understand that as a directional drilling company, your success depends on having access to the right funding at the right time. That's why we are committed to providing the expertise and resources you need to thrive in the industry.
Understanding Your Business Goals: We take the time to understand your unique business goals and challenges. Our team works closely with you to gain insight into your specific financial needs and aspirations. By understanding your objectives, we can tailor our financing recommendations to align with your long-term vision for your directional drilling company.
Delivering Tailored Financing Solutions: With our extensive network of factoring partners, we offer a diverse range of financing solutions designed to address the specific needs of directional drilling companies. Whether you require funds for equipment acquisition, cash flow management, operational expansion, or seizing growth opportunities, we have the expertise and resources to deliver the right financing solutions for your business.
Expertise and Industry Knowledge: Our team brings extensive expertise and industry knowledge to the table. We understand the unique dynamics of the directional drilling industry and the financial challenges it entails. With our in-depth understanding of your business, we can provide valuable insights, guidance, and recommendations to help you make informed financial decisions that support your company's growth and success.
Collaborative Approach: Collaboration is at the core of our service philosophy. We believe in working hand-in-hand with our clients, fostering a strong partnership built on trust, transparency, and open communication. We value your input and actively involve you in the decision-making process, ensuring that the financing solutions we provide align with your business objectives and contribute to your long-term success.
Flexible and Timely Support: We recognize that the timing of financing is crucial in the fast-paced world of directional drilling. Our commitment is to provide flexible and timely support, ensuring that you have the financial resources you need when you need them. Whether you have an urgent funding requirement or are planning for future growth, we are here to assist you every step of the way.
Partnering for Long-Term Success: Our ultimate goal is to become your long-term partner in success. We aim to build lasting relationships with our clients, supporting you not only with financing solutions but also with ongoing guidance and support. As your directional drilling company evolves and grows, we will be there to provide the financial resources and expertise you need to overcome challenges, seize opportunities, and achieve your business goals.
Experience the GO Funding Difference
When you choose GO Funding, you're choosing more than just a financing provider. You're choosing a dedicated partner who is committed to your success. Contact us today to discuss your financing needs and let us show you how our personalized approach, industry expertise, and tailored financing solutions can help drive the growth and prosperity of your directional drilling company. Together, we can make your business aspirations a reality.