FACTORING OILFIELD SERVICES COMPANIES
Invoice factoring is a type of finance utilized by oilfield service companies and suppliers who want quick cash. Factoring ensures constant cash flow, allowing oilfield service firms to fulfill payroll, control expenditures, and expand their operations.
How does factoring work?
Factoring is an easy process. An oilfield services firm or oilfield supplier delivers work, services, or goods to its clients. When it comes time to bill the customer, the firm forwards the invoice to its factoring provider.
Request Information
Factoring and Oilfield Services Contractors
Customers often pay oilfield services businesses after 30 days, 60 days, or longer. Factoring minimizes the need to wait for client payments by providing a substantial cash advance on open invoices. Instead of worrying about when payment will arrive or having enough cash on hand for costs, business owners can concentrate on the task at hand.
Water Haulers
Roustabout
Well Servicing
Rig Movers
Chemical Blenders
Vacuum Trucks
Frac Sand Haulers
Tank & Pipeline Cleaning
Welding
Wireline Services
Gravel Haulers
