Stop waiting to collect from your slow paying customers and get paid today
When you provide products or services to oil and gas companies, the extended payment terms these customers are known for can cause serious cash flow problems. By selling your receivables, you can generate the capital needed to cover overhead and expand your operations. You no longer have to wait months to receive payment…accounts receivable financing means you get paid today while the oilfield factoring company waits for payment.
Benefits of Oilfield Factoring
- Same day funding
- Competitive advance rates and fees
- Short term agreements with no hidden fees
- 24/7 Online account access
- Free credit checks on new customers
- Dedicated account managers
- Extensive oil and gas financing experience
Available for Oilfield Service Providers and Manufacturers
- Crane Operators
- Drilling Fluids
- Drilling Rigs
- Geophysical Svcs.
- Heavy Haulers
- Hot Shot Services
- Prospecting Equip.
- Seismic Surveyors
- Valves & Parts
- Wellheads & Pumps
- Other Tools & More
How Oilfield Factoring Works
- As soon as the work is completed for your customer, send the invoice and any additional billing paperwork to the oilfield factoring company.
- The factor will deposit up to 80-90% of the gross invoice value into your bank account within 24 hours or less.
- The factoring company handles the billing, then waits for your customer to remit payment in full.
- As soon as payment is collected, the factor releases any remaining funds into your bank account, minus a small factoring fee.
- You choose which customers and and which invoices to factor.
- Additionally, there are no minimum monthly volume requirements.
Getting Started with Oilfield Factoring
At Orion Business Capital we realize that not all oilfield factoring companies are created equal, that’s why our team of specialists are standing by, ready to help. Simply contact us today for a detailed discussion focused on your business and its capital needs. Within minutes, we’ll provide you with the perfect accounts receivable financing solution for your business. In most cases, you can begin funding your receivables in as little as 1-3 days.
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