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Factoring is the right solution for oilfield service companies needing reliable cash flow. With the cash from factoring, companies can pay their bills, take advantage of new opportunities, improve their equipment, and much more.

How Does Factoring Work? An oilfield service company provides work, service, or products to their customers as normal. When it’s time to invoice the customer, the company sends the invoice to their factoring company.

The factoring company advances the client a percentage of the value of the invoice, usually 90 percent, that same day. The invoice is sent on to the customer, who pays it in their regular terms. When the factoring company receives payment on the invoice, the remaining balance is remitted to the company, less a factoring fee.

There are many benefits of factoring for oilfield service companies.

First, instead of waiting for customer payments, factoring provides immediate cash to use to meet payroll, cover daily expenses, or grow your business.

Because factoring is not a loan, there is no additional debt. Companies that are turned down for bank loans can quickly and easily qualify for factoring.

Finally, top factoring companies like TCI Business Capital provide value-added services to help your company succeed. Services such as credit services, invoicing support, online reporting, and collections free up your time to focus on company operations.

For more information about factoring, call us at 800-707-4845, or visit our website, https://www.tcicapital.com/who-factor...