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Oilfield Services & Oilfield Suppliers
Turn Your Invoices into Same-Day Cash

Factoring For Oilfield Services

Oilfield Factoring Turns Invoices into Same-Day Cash

Oilfield services companies commonly wait 30, 60, or even 90 days to be paid by a customer on an invoice. Waiting so long for customer payments is a burden, especially for companies in need of consistent cash flow. Oilfield factoring with TCI Business Capital is the smart solution for companies needing reliable cash flow.

Since 1994, TCI Business Capital has worked to become one of the top invoice factoring companies in North America. Our oilfield factoring programs deliver immediate cash to companies, to use for equipment, payroll, fuel, and more.

factoring for oilfield servicesInvoice factoring with TCI Business Capital gives oilfield services companies and oilfield suppliers the ability to meet the financial demands that come with running a successful business. With the cash from factoring, companies can take advantage of opportunities, improve their equipment, and build towards a profitable future.

How Does Oilfield Factoring Work?

Invoice factoring is a straightforward process. An oilfield services company or oilfield supplier provides the work, services, or products to their customers as usual. When it’s time to invoice the customer, the company sends the invoice to their factoring company, such as TCI Business Capital.

The factoring company will advance them a percentage of the value of the invoice. The invoice is forwarded to the customer, who pays it in their regular terms. When the factoring company receives payment on the invoice, the remaining balance gets remitted to the company, less the factoring fee.

How Do Oilfield Services Companies Benefit From Factoring?

Oilfield service companies receive many benefits while using invoice factoring for their financing needs. One of the major benefits of factoring is companies that do not qualify for traditional lending, are easily approved for oilfield factoring.  Factoring lines are based on your customers’ credit and payment history, not that of your business.

Another benefit is the cash from factoring helps companies meet payroll, purchase supplies, materials, settle payables, and grow. With cash on hand, the stress and worry over payroll are gone, and the ability to take on new opportunities is available.

oilfield services factoring

Why Oilfield Services Companies Choose TCI Business Capital?

TCI Business Capital is a leader in factoring invoices for oilfield services companies. Our factoring programs are customized to fit the unique needs of each company. We understand timing is critical for many companies and our account set up process is designed to get clients set up quickly, so they can continue to focus on their business. In addition to the cash flow from factoring, TCI Business Capital has many value-added services for clients, including:

  • Quick Approvals: We can approve your company for factoring in as little as 15 minutes.
  • Fast Funding: Once your account is set up and active, we provide same-day funding of your invoices.
  • Online Reporting: 24-hour access to account activity and reports.
  • Competitive Rates: Factoring rates customized to fit your business needs.
  • Growth Opportunities: Factoring lines ranging from $50K to $20MM.
  • Customer Service: Dedicated relationship managers and funding teams, with knowledge and experience.
  • Industry Expertise: We factor companies working in a variety of industries.
  • Accounts Receivable Management: Our accounts receivable management services include integration with billing software, image archiving, and payment postings.
  • Credit Analysis & Risk Management: We make credit and payment information available, so clients make the right choice when working with new customers.
  • Accounts Receivables Management: Our dedicated team ensures your invoices are paid on time and the relationship with your customer stays strong.

At TCI Business Capital, we are driven to provide our clients superior service and support.

Factoring for Oilfield Exploration Companies

Oilfield exploration efforts rely on equipment and technology in order for work to be done correctly and efficiently. Oilfield exploration companies need working capital to provide their services, as the process to do the work is expensive and timely. Equipment expenses, payroll, and other operating costs need to be met on time. This can be a challenge when most of these companies are waiting 30 to 60 days for payments.

TCI Business Capital provides working capital solutions to all types of oilfield exploration companies, so they’re able to maintain and grow their exploration companies.

Acidizing & Cementing Crane & Aerial Lift Operators Drilling Contractors
Electrical Contractors Grading & Excavating Flowback Testing
Fracking Services Site Preparation Trenching Services
Vacuum Trucks Vacuum Trucks & Excavators Many More

Factoring for Oilfield Trucking Companies

The oil and gas industry is dependent on oilfield trucking companies to bring supplies and materials needed to complete the job. While the oilfield trucking companies need to pay for their employees, fuel, and trucks to do the work, they commonly run into a cash-flow crunch. Their customers wait up to 90 days or more to pay for their work after it’s complete.

TCI Business Capital provides oilfield trucking companies with working capital so they can complete their jobs and accept new contracts without having cash-flow stress.

Bulk Material Handling Crude Hauling Equipment Rentals
Flat Bed Carriers Frac Sand Hauling Gravel Haulers
Mud Haulers Water Haulers Many More

Factoring for Oilfield Production Companies

Oilfield production companies need sufficient, steady cash flow to operate. Equipment payments and payroll deadlines can be difficult to meet when they aren’t receiving payments on invoices until 30, 60, or even 90 days after the work is done. This makes it almost impossible to grow and take on new contracts, as oilfield production companies run into cash-flow gaps.

With TCI Business Capital’s accounts receivable factoring solution, oilfield production companies no longer have to worry about when they will get paid. We turn oilfield production company invoices into same-day cash, eliminating the cash-flow gap.

Completion Services Disposal Wells Environmental Services & Reclamation
Frac Sand Suppliers Gravel Suppliers Pit Cleaning
Roustabout Services Tank & Pipeline Cleaning Well Servicing
Sandblasting & Painting Casing Suppliers Many More

We Know Your Customers

We have over 20 years of experience working with the major players in the oil and gas industry. We know what they require, which makes it even easier for you to get paid same day for the hard work you do. Some of the companies we work with include:

 

Anadarko Petroleum Corporation Apache Corporation Baker Hughes
Canadian Natural Resources Canyon Technical Services Cenovus Energy
Concho Resources Consol Energy Continental Resources
Energen EOG Resources EP Energy Corporation
EQT Extraction Oil & Gas ExxonMobil
Gulfport Energy Halliburton Hilcorp Energy Company
Jones Energy Kinder Morgan Marathon Oil
Newfield Exploration Noble Energy Oasis Petroleum
Pioneer Natural Resources Range Resources Repsol Oil & Gas
Schlumberger Southwestern Energy SRC Energy
Statoil Syncrude Tundra Energy Marketing Limited
West Lake Energy Corp Whiting Petroleum Corporation WPX Energy
XTO Energy