Invoice Factoring and Receivable Finance for the Oilfield Service Industry
Is your money tied up in 30 to 90 day terms to your customers?
At 1st Commercial Credit, we can provide your business with working capital by using your accounts receivable as collateral. This type of financial service is available to oil and gas exploration service providers and field equipment suppliers such as seismic survey or geophysical operators, manufacturers of drilling fluids, drill rigs, lifts, geophysical prospecting equipment, pipes, pumps, production tools, valves, wellheads and many more.
1st Commercial Credit is a factoring company that provides receivable based financing for the oilfield Industry.
There is no need to borrow money if you have uncollected receivables from good credit worthy accounts.
Oilfield Service companies have to sell on open credit terms. Due to the nature of long collections in the oil and gas industry, accounts receivable become a tangible asset that is easily taped into liquid cash flow.