Invoice factoring, also known as accounts receivable financing, is a funding solution companies use to improve their cash flow. Instead of waiting 30 days or more for customer payment, our Midland invoice factoring programs pay you the day you’re ready to invoice.
While there are other factoring companies in Midland and the surrounding areas, TCI Business Capital offers same-day funding, high advances, and low, competitive rates. We provide companies with the cash they need to operate and grow.
Unlike business loans and lines of credit, our Midland accounts receivable financing programs are not dependent on your credit. We qualify and approve companies based on the creditworthiness of their customers. We want to help ensure you’ll get paid for the work you do.
We also offer flexible programs that allow your business to grow. Our invoice factoring and accounts receivable financing monthly programs range from $50,000 up to $20 million.
TCI Business Capital has more than 20 years of experience in many different industries. As long as your company is B2B, invoices on net terms, and is waiting to get paid, we can provide you with the cash you need through our Midland invoice factoring programs.
Some of the industries we support include:
|Oilfield Services||Trucking & Transportation||Renewable Energy|
|Government Contractors||Telecommunications||Utility & Pipeline|
|Heavy Construction||Technology||Staffing Agencies|
Another reason companies choose TCI Business Capital over other factoring companies in Midland and Texas is because we’re able to provide a funding solution when other companies can’t.
We offer Midland accounts receivable financing programs to companies who:
Located in the Southern Plains of western Texas, Midland is commonly known as the Tall City, because its tall buildings rise up over the relatively flat land surrounding it. Although the population of Midland is only about 130,000 people, it has been able to build expensive, world-class attractions due to its success in the oil industry.
The city of Midland, Texas started as a railroad station between Fort Worth and El Paso in the 1880s. The station was called Midway Station because it was positioned halfway between the two cities, where their two separate railways intersected. Since there was already another town in Texas with the name Midway, the city was forced to change its name to Midland in order to get a post office. Midland quickly became one of the most important cattle shipping centers in Texas. The population increased slowly until the discovery of oil in the region in 1923. The Permian Basin oil boom transformed Midland into a staging area for nearby oil fields, which caused its population to increase exponentially. During World War II, Midland became the site of the new Midland Army Air Force Base, which was one of the largest training bases in the country. After the war, the base was closed and converted into an airport for the city. During this time, the oil industry exploded and between 1945 and 1960 Midland was transformed from the small town it once was into the city it is today.
Since the discovery of oil in the Permian Basin in western Texas, Midland’s economy has been highly dependant on oil and gas production. In fact, the city itself was built on it, as oil companies built most of the high-rise buildings on the downtown skyline. As a result of their economy being highly dependant on oil, the economy of Midland can fluctuate greatly with the market value. This leads to layoffs when the market is down and large economic booms when the market is up. However, during the most recent slump in the oil market, Midland has managed to reduce the impact on their economy. Some of this is due to many independent exploration and production companies either merging or acquiring other companies. This provides fresh capital, resources, and technology to the newly combined companies and allows them to invest in additional acreage for further exploration when the market turns around again. Despite the fact that some of the smaller oil companies find themselves struggling during the low time, the larger companies like Chevron begin to invest more. In fact, several oil companies are in the process of building new office space downtown Midland.
Another way that Midland’s economy has been less affected by the fluctuation in the petroleum market is through the use of technology that provides more oil extraction using the same amount of space. The development and advancement of extraction methods over the past decade have allowed oil companies to reach oil that was once nearly impossible to get. Hydraulic fracking, a technique that allows drillers to extract oil from shale rock using pressurized fluid, has been around for a long time, but it wasn’t until recently that it was paired with horizontal drilling. The technology to do this was first created in the 90s, but it wasn’t widely used until an increase in oil prices during the last decade provided excess capital to invest in the technology. The combination of hydraulic fracking and horizontal drilling allows the drillers to dig deeper wells than they were previously able to, which gives them access to a greater volume of the reservoir. Additionally, the Permian Basin has stacked pay geology, which means there are multiple pay zones that result from one drilling site.
Although oil and gas dominate the Midland economy, agriculture and ranching are also significant contributors. Additionally, after weathering through the many ups and downs of the oil and gas industry, Midland began to diversify its economy to lessen the effects. As a result, Midland has become the home to an emerging aerospace industry. In fact, the Midland International Airport was the first commercial service airport to be certified as a spaceport. XCOR Aerospace, a spacecraft and rocket engineering company, recently moved their headquarters from the Mojave Desert to Midland and they were the primary reason that the FAA approved the Midland International Airport as a launch site. In addition to the launch site, a major business park was created to attract new aerospace companies. Also, Midland is exploring alternative energy options, including wind and solar energy. In fact, Midland is leading the state in wind and solar energy development. Currently, Midland has eleven electric generation plants and eleven wind power farms with additional projects in progress.