Invoice Factoring for Oil & Gas
Power Funding offers quick pay for the Oilfield Industry!
Power Funding, a nationwide leader in Oilfield Factoring, is here to help you grow your business, access immediate cash flow, and fund your day to day expenses without incurring debt. We can work with you even if your bank has told you no. Cover daily fuel costs, employee wages, and general business expenses today by selling your invoices for cash to Power Funding.
How Does Oilfield Factoring Work?
Invoice Factoring, also called accounts receivables financing, is a way to access immediate funds in exchange for your outstanding accounts receivable without taking out a business loan or waiting for slow-paying clients.
After the simple application process, which takes 2-5 business days to get approved, you can begin receiving finances within 24 hours. Each month, you can send your invoices to Power Funding, and we will pay you up to 98% of your receivables the same day. After your clients pay their invoices in full, you’ll receive the remainder of your receivables minus our small factor fee.
Oilfield Companies We Serve
Oil and Gas companies from every sector can benefit from our services. Whether you provide upstream, downstream, or midstream services, or if you are a fully integrated oil and gas service provider, Power Funding has a financing solution that will work for you.
We understand that when it comes to the oilfield industry, payment terms are often long and clients rarely pay right away. Your business will benefit from oilfield invoice factoring by receiving a high advance for your receivables within 24 hours. This allows your company to continue day-to-day operations without worrying about when your clients will pay their bills.
Here are just a few of the many types of oil and gas companies we serve:
- Abrasive Blasting/Sandblasters
- Dump Trucks
- Frac Sand hauling
- Fracing Companies
- Hot Shot Haulers
- Land Surveyors
- Oilfield Operator Companies
- Oilfield Trucking
- Pipeline Construction
- Powder Coating Companies
- Roustabouts
- Water Haulers
- Welders
- Well Drilling
Is Oilfield Factoring Better Than A Loan?
Many oilfield companies choose to factor their invoices every month rather than apply for a bank loan because at Power Funding, we do much more than a bank ever will. Below are some of the many services and benefits we provide to our clients:
- Our application process takes less than a week from start to finish. A bank loan can take several weeks or even months to process.
- Upon approval, your oil and gas company can begin getting paid within 24 hours. A bank loan may take weeks to put money in your hands even after you’ve received approval.
- Accounts Receivable Financing through Power Funding is not a loan. It’s an advanced payment for services you’ve already provided. That means there is no compounded interest or long term debt to worry about.
- Power Funding gives you access to long term financing. You do not have to apply for a loan every time you need funding. Simply turn in your invoices to Power Funding, and we’ll provide you with same day cash.
- We offer funding with no monthly minimums and up to $10 million maximum, meaning your financing can grow with your business.
- We handle your logistics, including collections, payment processing, and more.
Contact Us To Begin Your Application Today!
If your oilfield service company needs cash immediately, Power Funding can help. We pay some of the highest advances in the industry. Give us a call to request a quote.
Start an application today and get paid by Friday!
