Energy Services Invoice Financing

Most businesses in the Oilfield industry could make more money if they had more of their money. Funds could be used to hire more people or purchase more efficient machinery, drillheads, etc.., purchase product and supplies at a discount, or generally increase sales. However, many Oil companies have thirty plus days of sales tied up in accounts receivable. Factoring solves that by funding cash on invoices immediately instead of having to wait thirty days, sixty days or more.

1So, what is Oilfield Invoice Financing?

For over 4,000 years, people have used some form of factoring. Invoice factoring as we know it today is a type of business financing that allows businesses to circumvent traditional means of funding. Methods such as bank loans and private investments are less preferred because of their restrictive stipulations and their long approval times. To receive funding through this type financing, all you need are invoices that can be factored. Basically, you, the company, are selling your debt owed to you for money now.

2How does it work?

Your company does work and then bills customers for that work. If you send those invoices to Transfac, we will advance you a large percentage (many industries up to 90%) of the value owed to you in less than a day. Then, when your customer pays the bill several days or weeks later, Transfac forwards you the difference between the payment and the original amount advanced, minus a small fee for administration and funding.

3Top Reasons to Consider This Type of Funding For Your Business

 

  1. No new debt, no loans
  2. Receive payment in less than 24 hours
  3. Eliminate collections
  4. Professional AR management including Credit Management
  5. Improve cash flow and credit

Find out today how we can help finance your business.

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