Factoring for Oil Field Workers

Factoring For Oilfield Services

If you work in the oilfields there’s a good chance that you work as a contractor that provides a service to the core drilling business. You might provide equipment maintenance, transportation, roustabout work and more. If so, you may experience long wait times for the drilling company to pay you for the services you have rendered.

Managing your overhead, payroll, and other daily expenses while waiting for the drilling company to pay their invoices can cause cash flow crunches, a lack of working capital, or even hinder you from growing your business. As a result, you might experience financial concerns such as a lack in necessary funds for expansion, development expenses, employee salaries and more.

You might turn to a traditional business loan to cover these expenses when there is a better option available. Factoring offers flexible financing solutions with fast approval processes. Treasure Valley Factors allows you to factor your accounts receivable at a small discount, typically 5%, and get your money within 24 hours instead of waiting for the oil company to pay. You can choose to factor as many or as few of your accounts receivable as you choose to meet your current cash needs.

Through factoring you can avoid taking out loans and other forms or debt that come with a high interest rate and focus on accelerating the cash flow you need to meet your current financial needs on an ongoing basis. Another benefit of factoring is that once we have purchased your accounts receivable, we handle the entire billing and collection process for you, saving you time and money.

To learn more about how Treasure Valley Factors can help your business, please fill out the contact form below and a member of our team will reach out to you to answer all of your questions.


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