Factoring Services Helping Oil and Gas Service Companies Thrive
While highly profitable, the oil and gas industry involves a considerable amount of risk, no matter whether you provide excavation services or clean oil rigs. At Working Capital of America, our goal is to give you the stability that you require for managing your cash flow through factoring, also known as receivables financing. It works like a business line of credit, but it is not borrowing.
What Is Invoice Factoring?
We give you a direct financial solution for running your business which is simple and flexible solution. When you transfer your invoices (accounts receivable) to us, we will transfer up to 95% of their face value to your bank account in the next 24 hours. Alternatively, you can receive ACH funding on the following business day. At Working Capital of America, we know that in the oil and gas service business the projects are large and so are the payments. That is why we can finance receivables for a sum of up to 5 million dollars.
Our professional account managers will collect the payments from your clients under the same terms originally agreed with you and once this happens, you will receive the remainder of the invoice amount minus our fee. With our competitive rates and transparent terms and conditions, we’ve won the trust of multiple companies in various industries over the years.
AR Financing Compared to Loan Financing
Take a look at the advantages that our cash flow management solution gives you:
Credit history isn’t a key factor. Your customers owe you money and we provide financing based on this and not on your company’s record as a borrower. Count on us for factoring even if you have no credit history because you are starting out or if you have bad credit due to financial difficulties in the past.
Company asset value is irrelevant. Financing receivables is comparable to an unsecured business line of credit in this respect. You will get the cash needed to expand your working capital without having to place collateral. The risk is lower and you can concentrate entirely on managing and expanding the business operations of your oil and gas service company.
Shorter time, better servicing. We don’t require tons of paperwork or take weeks to process your application. As long as you work with reliable customers, you can use our receivables financing to cover your expenses and take up bigger and more profitable projects. Our company has the experience and commitment to become your trusted partner in growth.
Making the First Step
Whether you have a large order coming up and you have to hire more people and equipment or you are planning a major investment, you can use our invoice factoring solution for oil and gas service companies right now. Apply online by filling out a short online form and expect to hear from us within 48 to 72 hours. It’s that fast.
When you partner with us, you can factor any fraction of your invoices, depending on your needs, and rely on professional support for your cash flow management from the dedicated team of Working Capital of America. It’s time to begin.