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Financing & Factoring Oilfield

Financing & Factoring Oilfield

Over 3,200 clients funded
Waiting To Get Paid On Net 30, 60, or 90 Day Terms?
No up font fees to set up
No financial required
Funding in 3-5 days
Rates at
0.69% to 1.59%
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We Lend MORE Than The Bank

Financing & Factoring Oilfield

Waiting To Get Paid On Net 30, 60, or 90 Day Terms?
Request a quote
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$500,000

Staffing Oil Field Service
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$1.2 Million

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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.


Why Oilfield Companies Choose Us?
Accounts Receivable Financing is our Business.
$10,000 & up to $10 million Facilities
No financials required
Set up in 3 to 5 working days
No up-front fees - No hidden fees
No facility fees - No audit fees
We make same day decisions
No monthly minimums
No invoice minimum fees
Financing rates at 0.69% - 1.59%

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 financing become a tangible asset that is easily taped into liquid cash flow.

Many large companies use this type of financing to increase their cash flow for daily expenses. There is no need to borrow money if you have uncollected receivables from good credit worthy accounts.

1st Commercial Credit is a Factoring Company That Provides Receivable Based Financing for the Oilfield Industry

1st Commercial Credit offers an ideal financial solution that will advance a portion of your outstanding accounts receivable. We will provide your oilfield services company with the cash flow it needs to meet ongoing and pressing obligations. Once the transaction is settled and your customers pay their invoices fully, the factoring company will forward the remaining balance minus a small factoring fee.


Invoice financing can provide your company with the financial flexibility and the capacity to take on new customers without worrying about slow payments and cash flow issues.

Factoring the oilfield industry

1st Commercial Credit Offers Factoring Services to Small and Large Oil Service Companies

1st Commercial Credit offers factoring services to small and medium-sized businesses with as little as $10,000 a month in sales volume and up to $10 million in receivable assets. If your business would benefit by converting your accounts receivable to working capital, we can help.

Get initial funding in 3 to 5 working days. No financials needed, No up-front fees to set up, it is that easy.

Service companies that are in the oil and gas industry that need to offer credit terms to customers utilize our funding program. Oilfield companies can easily tap into their receivables asset for immediate cash flow.

You may offer credit terms to new and larger customers at an affordable cost, take advantage of early pay discounts offered by your suppliers, buy larger quantities with additional discounts, and countless other opportunities that your manufacturing business is missing out on.

Receivable Financing Rates at 0.69% to 1.59%
18 Years In business & Over 3,200 Clients Funded
Fast Approval Process.
No Financials Required.
3 to 5 Day Initial Setup.
No Up Front Fees to Set up.
Low Credit Score Accepted.
Free Invoicing Software

Oilfield Providers Experiencing The Following Can Take Advantage Of Our Financing Programs:

Cash flow shortage due to payments coming in slowly.
Oil Service Industry will not qualify for rigid bank loans.
Uneven spike in sales and income.
Long term jobs drain cash flow before invoicing.
oil drilling company men
Service companies that are in the oil and gas industry that need to offer credit terms to customers utilize our funding program.
Request A Callback Today!
Receivable Financing Rates
From 0.69% to 1.59%
◽️
Quick Approval Process!
◽️
Easy Set-Up in 3 to 5 Days.
◽️
No Financials up to $350k.
◽️
Over 18 years in business.
Schedule A Callback

Invoice Factoring And Receivable Finance For The Oilfield Service Industry

The oil and gas industry has continued experiencing growth all across the nation. This growth is fueling great opportunities for companies in this sector, and services such as oilfield transport have been increasing in demand. However, with all this rapid growth and increase in demand, financial hardship can ensue for some of the smaller providers in the industry.


Most small businesses have a difficult time obtaining financing, which can set them up for failure. Invoice factoring for oilfield companies is made easy with 1st Commercial Credit. We provide the most cost-effective and reliable accounts receivable loans.


Most oil and gas clients will pay their invoices in 30 to 90 days. Therefore, most customers require these payment terms. The problem arises when many smaller oilfield service companies do not plan for this situation, resulting in problems for companies that need to cover daily business expenses. 


1st Commercial Credit offers flexible invoice loans. If your customers have good credit, the invoice financing line can grow alongside your company sales. This type of flexibility is a significant advantage of invoice financing, especially when compared to other financial solutions. We offer strategic benefits to oilfield services companies experiencing cash flow problems and can make quick funding decisions. The cost of factoring receivables is dependant on the following factors.

Invoice factoring receivables company
  • The volume of the monthly receivables a company wants to factor
  • The size of each invoice 
  •  Industry
  • The creditworthiness of your clients
  • The length of time your customers take to pay

Our average factoring percentages can be anywhere between 1% and 4%. We recommend asking several factoring companies for quotes to get a good sense of what you will pay for factoring services and to try to get the lowest invoice factoring fees for your business.

Oilfield Providers Experiencing The Following Can Take Advantage Of Our Financing Programs:

Invoice factoring is an excellent alternative for those businesses looking to alleviate different types of financial issues. It is easy to determine if factoring will help your business by asking yourself the following questions:

1. Your financial problems are arising from slow-paying customers or extended payment terms
Most companies finance their receivables because of cash flow problems. If finding a way to obtain these payments sooner by using a cash flow lender would eliminate most of your financial problems, factoring is the solution.

Call Now 1 (800) 876 6071Request a quote

2. Customers keep asking for payment terms you can’t afford
Sometimes companies experience problems when their customers demand 30 to 90 day payment terms. Their current financial situation is often not large enough to cover company expenses while also waiting for customer payments. This puts them in a predicament. 

3. You have to turn away orders because you do not have the money to fulfill them
There are times when a company has to turn orders away because it does not have the cash available needed to fulfill these orders. This can sometimes push potential customers to a competitor. This problem is common for companies but can be avoided when using invoice factoring for oilfield companies. Oilfield factoring is financing used by many companies in the country, and 1st Commercial Credit has the experience and can advise how to maximize the value of your outstanding invoices.

1st Commercial Credit Offers Factoring Services to Small and Large Oil Service Companies

Factoring service company for oilfield businesses

Will my business qualify for invoice factoring with 1st Commercial Credit?

Factoring is a form of financing that helps improve a company's cash flow. This alternative financing gives the client access to immediate funds, which can then be used to pay for business expenses and grow. It is important to mention that qualifying for factoring is considerably more accessible than any other type of business financing.

To know if your small or large company would be eligible for accounts receivable funding, here are a few of the main prerequisites:

  1. Your customers must have good credit: This is the most essential requirement to qualify for factoring. The transaction is built by leveraging your customers' credit strength and not yours or the company's.
  2. Your invoices must be free of liens: Factoring companies provide financing by purchasing your invoices. But to be able to do this, your invoices must be free of liens.
  3. Need to have good invoicing practices: Your invoices must have clear and well-defined payment terms and must have all the necessary backups for a smooth collections process.
  4. Tax issues must be manageable: A significant advantage of receivables factoring over other solutions like business loans is that it is available to companies with tax problems. However, these tax problems must be manageable and solved with financing.
  5. No open bankruptcies: The company and the primary owners must not have an active bankruptcy, and previous bankruptcies must be adequately discharged.


Recent Transactions:

$350,000 | Invoice Financing for Industrial Coatings Pipeline Repair Company

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